WAUKESHA, Wis., March 20, 2015 /PRNewswire/ -- Generac Power Systems, a leading designer and manufacturer of backup power generators and engine-powered tools, is pleased to announce that it has been honored with the 2014 Natural Gas Generator Company of the Year Award from Frost & Sullivan for its contribution to the North American natural gas generator set industry.
Recipients of this prestigious award are selected based on their demonstration of excellence in growth, innovation and leadership. According to Frost & Sullivan chairman David Frigstad, "Businesses that receive the Company of the Year Award have a keen eye to the future and drive innovation that meets future needs before they become commonly visible, thereby often being first to market with new solutions."
Generac received the award for its continuous performance in identifying untapped needs in the market and its ability to develop product solutions for residential, commercial, industrial and mobile applications that utilize natural gas. The company's strategic business acquisitions were also noted for extending Generac's long-term growth opportunities.
"We are honored to accept this award from Frost & Sullivan, which recognizes our current achievements and the path to our future success," said Aaron Jagdfeld, president and chief executive officer of Generac Power Systems. "I'd also like to thank the employees at Generac for their incredible work ethic. This award is a result of their dedication and commitment to excellence, which has made everything we do possible."
In the award recognition, Frost & Sullivan highlighted Generac's natural gas products. Generac's innovations have made gaseous-fueled generators more powerful and cost effective. Natural gas units offer extended run times during power outages because there is no need to refuel. These products don't require on-site fuel storage, which eliminates fuel maintenance and spillage concerns. Special permitting also is not required. Along with these benefits, natural gas units have enabled customers to significantly reduce operating costs, saving thousands of dollars each year. Another advancement is the use of these products in the oil and gas industry. Generators can be used to power remote sites by utilizing the existing natural gas source. This helps to reduce flaring, providing faster return on investment for customers.
Frost & Sullivan evaluates two key factors in determining the Company of the Year: visionary innovation and performance, and customer impact. For more information on how award recipients are selected, click here.
For additional information on Generac, visit www.Generac.com.
About Generac (NYSE: GNRC)
Generac Power Systems (NYSE: GNRC) is a leading global supplier of backup power and prime power products, systems, and engine-powered tools. Back in 1959, our founder was committed to designing, engineering, and manufacturing the first affordable backup generator. Fifty-five years later, the same dedication to innovation, durability and excellence has resulted in the company's ability to expand its industry-leading product portfolio into homes and small businesses, on job sites, and in industrial and mobile applications across the globe. Generac offers backup and prime power systems up to 100 MW, and uses a variety of fuel sources to support power needs for our customers. We are proud to be named the Frost & Sullivan 2014 North American Natural Gas Generator Set Company of the Year.
About Frost & Sullivan
Frost & Sullivan, The Growth Partnership Company, enables clients to accelerate growth and achievement through growth, innovation and leadership. The company's Growth Partnership Services provide the CEO, as well as the CEO's Growth Team, with disciplined research and best-practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 40 offices on six continents. To join our Growth partnership, please visit http://frost.com.
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SOURCE Generac Power Systems