International. Generac's acquisition of "ecobee" seeks to create a clean, efficient and reliable energy ecosystem for the home, which provides benefits to grid owners and operators.
Generac Power Systems announced the purchase of the sustainable solutions company ecobee Inc, for a figure that reached 770 million dollars. This union allows both companies to meet their goal of providing a sustainable and excellent quality energy future for their customers.
Ecobee, a pioneer in the smart thermostat market, was founded in 2007 and is headquartered in Toronto, Canada. It has a team of more than 500 employees worldwide and offers several Energy Star certified thermostats, as well as a suite of home monitoring products, all designed with a focus on sustainability and comfort. One of the best features of the thermostats of this brand is that they optimize the heating and cooling systems to offer significant energy savings. So, with more than two million homes connected, ecobee customers in North America have saved around 20TWh (Terawatt-hour), which equates to saving enough energy to disconnect, for example, every home in Los Angeles for a year.
Aaron Jagdfeld, president and CEO of Generac, said that residential HVAC systems represent the most energy-intensive device in the home, so "ecobee's smart thermostats and sensors offer the smartest way to balance comfort with conservation. In addition, the ability to combine ecobee's cutting-edge technologies with Generac's energy generation, storage and management devices will allow us to create a clean, efficient and reliable home energy ecosystem, which will not only save homeowners money, but also help grid operators cope with the challenges of an electrical grid under enormous stress, providing solutions to better balance supply and demand."
In this union ecobee is highly benefited, as it will be able to take advantage of Generac's global presence and its extensive distribution network, to maximize its growth opportunities. Stuart Lombard, founder and CEO of ecobee, said: "We are excited to join the Generac team to deliver a cleaner, more resilient and sustainable energy future for our customers and communities.
