US-based power products group Generac Holdings has acquired lead-acid and lithium-ion battery storage firm Pika Energy for an undisclosed sum.
Generac president and CEO Aaron Jagdfeld said Pika’s development of systems for the residential and commercial market would give the group “a considerable edge as we expand into the rapidly developing market for energy storage”.
The acquisition follows Generac’s recent takeover of energy management technology company Neurio. “By combining Generac’s expertise in power products; Neurio’s unprecedented insight into home energy use; and Pika’s expertise in battery storage, we can bring to market the first truly intelligent home energy management system,” Jagdfeld said.
Pika, founded in Maine in 2010, also manufactures solar inverters and DC converters and has a distribution reach across North America and Puerto Rico.
Ben Polito, Pika CEO and co-founder, said: “Pika energy storage technology, combined with Generac’s distribution strength and demand creation capabilities, will make this solution immediately available to more users”.
