Energy

5G rollout boosts demand for backup power generation, Generac CEO says

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Generac CEO Aaron Jagdfeld told CNBC Monday that the backup power generator company expects to benefit from the adoption of 5G wireless technology.

“We think that that’s a space that is going to grow tremendously over the next five years,” he said in an interview with Jim Cramer on “Mad Money.

For Generac, the opportunity particularly lies in the telecommunications arena. The company is already a top provider of backup generation for major wireless providers, Jagdfeld said.

The rollout of 5G technology, or fifth-generation mobile network, promises to bring faster network speeds and connect more activities to the internet of things. The way people learn, drive and take care of their health…



Source cnbc.com

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