Generac Holdings, a global designer and manufacturer of energy technology solutions and other power products, has announced the acquisition of Chilicon Power, a provider of microinverters and monitoring solutions. Through the takeover of Chilicon, Generac hopes to further strengthen its position in the residential energy technology market. The deal was 2021, but the terms are yet to be disclosed.
California-based Chilicon Power offers power inversion and monitoring technology to optimize installation and operation and integration of solar systems. President and CEO of Generac, Aaron Jagdfeld promised, "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."
Sharing similar sentiments, Russ Minick, President of Energy Technology and CMO at Generac said, "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."