Generac Power Systems has announced 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 YearAward 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 runtimes during power outages because there is no need to refuel. These products don’t require onsite fuel storage, which eliminates fuel maintenance and spillage concerns. Special permitting is also 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.