Founded in a Wisconsin barn more than 60 years ago, Generac is a global leader in designing and manufacturing residential, commercial and industrial power generation equipment. Generac practically created the market for home standby generators and still commands an impressive market share in that category. Now it’s fueling its transition to the renewable energy reality through an acquisition spree in clean energy products and services.
Take Neurio, a Vancouver, British Columbia-based energy data company. Founded in 2005, Neurio focused on metering technology and analytics to optimize home or business energy use. Generac bought it in 2019 to accelerate its efforts around connectivity and remote monitoring — what it described as “critical parts of its ‘Powering Our Future’ strategy.”
Keith Marett was CEO of Neurio at the time of the acquisition. He said combining Neurio’s intelligent energy management technology with Generac’s products, distribution, and market creation capabilities created tremendous energy use and management opportunities. And that was only the beginning.
Keith is now the president of Generac’s Clean Energy Services, its fastest-growing division. He expects homeowners to become increasingly aware they can track and control their energy use through various technologies that allow them to decide who they pay and how much they pay for electricity. And he’s shepherded a 3+ year transformation of this traditional power company into an outperforming Fortune 1000 star. What’s the strategy, and where are they looking next?