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Generac Holdings Inc. (NYSE: GNRC) is a leading energy technology company that has been designing and manufacturing power generation equipment since its founding in 1959. Headquartered in Waukesha, Wisconsin, Generac is recognized globally for providing reliable and affordable power solutions to both the residential and commercial sectors.
Generac's product offerings are extensive and tailored to meet diverse power needs. The company is renowned for its home standby generators, which have become a household staple. Generac was the pioneer in creating the first affordable home standby generators and the first engine developed specifically for generator use. This innovation has positioned Generac as a dominant player in the market, selling more home standby generators than all its competitors combined.
Beyond residential solutions, Generac has also made significant strides in the commercial sector. The company introduced a cost-effective product line that caters to small and mid-sized businesses, revolutionizing the market with versatile and dependable power solutions.
Generac’s product portfolio includes:
- Standby Generators: Reliable power solutions for home and business continuity during outages.
- Portable Generators: Versatile and mobile power sources for various applications.
- Clean Energy Products: Innovative solutions that include energy storage systems and smart energy management devices.
- RV Generators: Specialized power solutions for recreational vehicles.
- Commercial and Industrial Generators: Heavy-duty power systems for industrial applications.
Generac's core philosophy is to ensure customer peace of mind by delivering superior products and a top-notch ownership experience. The company is dedicated to maintaining its market leadership through continuous growth and innovation in power generation technology.
Recent news highlights the company's ongoing achievements and initiatives:
- January 31, 2024: Generac announced its fourth quarter and full-year 2023 financial results, showcasing record free cash flow generation and strong margin expansion.
- April 17, 2024: Plans to release first quarter 2024 financial results, with a focus on strong operational execution and margin expansion.
- May 13, 2024: Leadership changes with Shree Dandekar becoming the head of Corporate Engineering and Product Management.
- May 20, 2024: Introduction of the EVO 96, the world's largest electric zero-turn mower, by Mean Green, a Generac company.
Generac's commitment to innovation and sustainable energy solutions positions it at the forefront of the energy technology industry.
Generac Mobile has launched the MLTB, an innovative battery light tower, marking a significant advancement in sustainable lighting solutions. The MLTB, powered by Generac's Green Lithium Battery technology, is the first DOT-certified high-intensity light tower with low noise and zero emissions. It features a 22 kWh lithium-ion battery offering up to 75 hours of runtime, and is designed for various applications including jobsites and entertainment venues. The unit reduces maintenance costs by up to 60% compared to diesel counterparts and will be available for order in Q1 2022.
Generac Mobile has unveiled two large diesel generators, the MDE330 and MDE570, focused on ease of operation and maintenance. Equipped with Perkins Tier 4 Final-certified engines, these models feature technology preventing wet stacking, enhancing operational reliability. They offer a 500-hour oil and filter service interval and can run for at least 25 hours before needing refueling. The units come equipped with the PowerZone® Pro Sync controller for performance monitoring. Orders will start in Q4 2021, with shipping expected in Q2 2022.
On Sept. 28, 2021, Generac Power Systems (NYSE: GNRC) announced the release of its inaugural Environmental, Social, and Governance (ESG) report. The report emphasizes sustainability in products and operations, social responsibility, and corporate governance commitments. CEO Aaron Jagdfeld highlighted the internal ESG Steering Committee's role and board-level oversight, aiming to enhance accountability to stakeholders and communities. This inaugural report serves as a baseline for future ESG performance evaluations, framing Generac's commitment to resilient and sustainable energy solutions.
Generac Power Systems (NYSE: GNRC) has introduced the PWRgenerator, a novel DC generator aimed at enhancing energy independence for homeowners. This device complements the PWRcell Battery by enabling rapid recharging and creating a residential nano-grid with solar and battery storage systems. PWRgenerator operates quietly on natural gas or LP and is part of a Smart Grid Ready framework that allows customers to participate in virtual power plant programs. Set for release in early 2022, the PWRgenerator promises efficiency and reliability, especially during outages.
Generac Power Systems (NYSE: GNRC) announced the launch of PWRmanager, a new load management system designed for its PWRcell Energy Storage System. This innovation allows homeowners to manage power distribution during outages by controlling which circuits receive energy. PWRmanager enhances battery runtime and integrates seamlessly with existing systems, requiring no new load panel for installation. Priced competitively, it automates control of numerous circuits and is aimed at improving user comfort during power outages. It will be available for purchase starting Spring 2022.
On September 21, 2021, Generac Power Systems (NYSE: GNRC) announced the launch of PWRmicros, innovative solar microinverters that optimize solar energy output. The lineup includes the PWRmicro 2:1, a dual-module, 720W microinverter, and the PWRmicro 1:1, a single-module unit. These products improve energy efficiency, allowing homeowners to maximize solar production without clipping output. Set for early 2022 availability, PWRmicros aim to simplify installation for solar professionals, establishing Generac's leadership in the solar technology market.
Generac Holdings to Acquire Tank Utility
Generac Holdings Inc. (NYSE: GNRC) has announced the purchase agreement to acquire Tank Utility, a provider of IoT propane tank monitoring solutions. This acquisition aims to enhance Generac’s energy management offerings, leveraging Tank Utility’s advanced monitoring capabilities. With anticipated closing in October 2021, Generac expects this move to bolster its market position and provide added value to its dealers and customers, especially in off-grid applications and backup power solutions.
Generac Holdings Inc. (NYSE: GNRC) announced a virtual webcast for its 2021 Investor Day, scheduled for September 29, 2021. The event will feature President and CEO Aaron Jagdfeld alongside the management team discussing key strategic priorities and growth opportunities. The live presentation begins at 9:30 a.m. EDT and is expected to conclude by 1:30 p.m. EDT. Interested parties can register for the webcast and access presentation slides through Generac's website.
Generac Power Systems and Enchanted Rock announced a 5-year collaboration to develop advanced natural gas generators and control systems. This partnership aims to enhance power resiliency solutions across the U.S., utilizing Generac's technology to support Enchanted Rock's ultra-low emissions Dual Purpose Microgrids. These microgrids provide reliable backup power and assist electric grid operators in adopting renewable energy. The new generator units will be produced in Generac's Oshkosh, Wisconsin facility, ensuring high-quality and efficient power solutions.
Generac Power Systems (NYSE: GNRC) announced the creation of Generac Grid Services, focusing on providing energy solutions to utilities and energy markets. Bud Vos, former president of Enbala Power Networks, will lead this new group. This initiative aims to deliver economic and environmental value by utilizing Generac's diverse energy products, including home standby generators and storage systems. The formation builds on the October 2020 acquisition of Enbala Power Networks, enhancing Generac's capabilities in distributed energy solutions.
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