Waukesha, Wisconsin-based Generac is known for the design and manufacture of industrial, commercial, and residential power products, primarily generators.
On April 29, 2019, the company announced a play to enter the energy storage market with the acquisition of Pika Energy, a Westbrook, Maine-based company that specializes in home energy storage.
The company created the Pika Energy Island, a system that generates, stores, and consumes clean energy for commercial and home applications. The technology competes with similar home storage systems, such as Tesla’s Powerwall.
Founded in 2010, Pika has expertise in advanced power electronics, software, and controls for smart energy storage and management.
The acquisition closed on April 26, but Generac didn’t disclose the terms. The addition should pair nicely with Generac’s recent acquisition of Vancouver, British Columbia-based Neurio Technology.
On March 13, 2019, the company announced the deal for the energy data company that is focused on metering technology and sophisticated analytics to optimize energy use within a home or business. Neurio’s hardware and software solutions allow users to manage and control electrical loads, solar systems, and batteries to optimize energy consumption.
According to Generac, the combination of its power product manufacturing expertise, Neurio’s knowledge on home energy use, and Pika’s expertise in solar storage will enable the company to deliver intelligent home energy management systems.