Town of Genesee-based
Generac Holdings Inc. continues to expand its energy technology offerings through acquisition, acquiring California-based
Chilicon Power LLC on July 2.
Chilicon is a designer and provider of grid-interactive microinverter and monitoring solutions for the solar power market. The products help turn the electricity from solar panels into power that can be used in the home.
Terms of the deal were not disclosed.
"The extensive experience and technological expertise of the Chilicon team will further fuel the continued growth and development of Generac's expanding energy technology solutions," said Aaron Jagdfeld, president and chief executive officer of Generac. "Generac has a proven track record of developing leading energy solutions, and together with Chilicon, we believe we can replicate this success within the microinverter market."
Generac, which also saw
increased demand for its standby generators during the COVID-19 pandemic, entered into the energy storage and monitoring markets in 2019 with the acquisitions of
Neurio Technology and
Pika Energy. Following those deals, the company launched PWRcell and PWRview, products that help store and monitor energy generated from solar panels.
"Adding Chilicon's robust microinverter solutions alongside Generac's current PWRcell solar and storage product offerings will create one of the broadest product offerings in the residential clean energy market," said Russ Minick, president of energy technology and chief marketing officer at Generac. "Putting Chilicon's microinverters in the hands of our global network of Generac dealers and distributors will strengthen our competitive position in this rapidly expanding market."
Chilicon was founded in 2010. Co-founder Alex Kral said Generac and Chilicon have a “like-minded strategy” of developing products for the solar and storage markets.
"As part of the Generac team, we are able to accelerate our vision for a greener, energy-independent future and provide our microinverter solutions to a significantly larger customer base using Generac's global distribution network and proven go-to-market strategies," said Christopher Jones, co-founder of Chilicon Power.
