Generac Acquires Connectivity Firm
By Chad Elmore13 March 2019
Generac Holdings Inc. has accelerated its connectivity strategy with the signing and closing of a purchase agreement to acquire Neurio Technology Inc.
Neurio, founded in 2005 and headquartered in Vancouver, B.C., Canada, is an energy data company focused on metering technology and analytics to optimize energy use within a home or business. Neurio’s hardware and software solutions equip users with the intelligence to manage and control electrical loads, solar systems and batteries to optimize energy consumption and increase savings.
“The addition of Neurio’s data expertise, devices and advanced technologies will help us strengthen our home energy management capabilities and accelerate our efforts around connectivity and remote monitoring … all of which are critical parts of our ‘Powering Our Future’ strategy,” said Russ Minick, Generac’s Chief Marketing Officer. “Customers using Neurio’s technology get real-time access to their power consumption data and have the ability to make informed decisions that allow them to save on their energy use.”
“The combination of Neurio’s intelligent energy management technology with Generac’s products, distribution, and market creation capabilities will create tremendous opportunities in how energy is used and managed in a home,” commented Keith Marett, CEO of Neurio. “We are excited about joining the Generac family to accelerate our efforts to bring these solutions to a broader market.”