Generac and EcoMotors Agree to Engine Development Partnership
Allen Park, Mich., June 14, 2011 – EcoMotors International and Generac Power Systems, Inc. (NYSE: GNRC) have announced an agreement to jointly develop the revolutionary EcoMotors opoc® engine for Generac products. The agreement is designed to enable Generac to apply the opoc® technology to its market-leading range of residential, commercial and industrial power generation solutions.
“We are very excited to partner with Generac on this game-changing initiative for the power generation industry,” said Don Runkle, CEO of EcoMotors. “Together, our organizations look forward to bringing clean, efficient opoc®-powered Generac products to the power generation market in the near future.”
Aaron Jagdfeld, CEO of Generac, added, “This agreement with EcoMotors reflects Generac’s proud role as the standby power generation industry leader and innovator, and our continual quest to bring new technologies that add value for our customers and shareholders.”
Allen Gillette, Generac’s Senior Vice President of Engineering, noting the inherent functional advantages of opoc® said, “We believe that this remarkably compact and flexible engine can play a key role in ensuring that Generac products remain responsive to our customer needs, and to further distinguish Generac in terms of advanced technologies that are environmentally sound.”
Since 1959, Generac has been a leading manufacturer of backup power generation products serving residential, light commercial and industrial markets. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent dealers, retailers and wholesalers. Generac is committed to developing a long-term vision that promotes environmentally responsible products, processes and partnerships and strives to be a positive contributor of sustainable growth in the backup power generation industry. For more information on Generac and its extensive line of both portable and automatic generators, visit www.GENERAC.com.
Established in early 2008, EcoMotors is changing the landscape of internal combustion power. Based in Allen Park, Mich., EcoMotors is commercializing the unique opoc® engine for use in cars, light trucks, commercial vehicles, aerospace, marine, agriculture, auxiliary power units, generators, etc. Anywhere conventional gas or diesel power is currently utilized, opoc® represents a better propulsion solution.
The two primary investors in EcoMotors are Khosla Ventures and Bill Gates. Khosla Ventures, based in Menlo Park, California, offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough scientific work in clean technology areas such as solar, battery, high efficiency engines, lighting, greener materials like cement, glass and bio-refineries for energy and bio-plastics, and other environmentally friendly technologies as well as traditional venture areas like the Internet, computing, mobile and silicon technology arenas. Vinod Khosla, who founded the firm in 2004, is a founder of Sun Microsystems and was formerly a General Partner at Kleiner Perkins.