FlexGen Power Systems, LLC (“FlexGen”), a leading provider of battery energy storage solutions and energy management software, today announced that the U.S. Bankruptcy Court for the District of New Jersey, the Court presiding over the Chapter 11 cases of Powin, LLC and Powin affiliates, has approved FlexGen’s acquisition of a substantial portion of Powin’s business, advancing FlexGen’s mission to future proof global grids and growing energy demand through battery energy storage.
Through the acquisition, FlexGen will own all of Powin’s IP, including hardware IP, software IP and information technology systems, along with a significant spare parts inventory. Upon closing of the acquisition, FlexGen will support over 25 GWh of battery energy storage systems and 200 projects across 10 countries in its portfolio. FlexGen’s Remote Operations Center (ROC) will gain system visibility to ensure continuity for Powin customers, while its FlexGen HybridOS® controls software, analytics modules and lifecycle services will be made available to provide additional insights and best-in-class system availability.
“This is a significant milestone, not just for FlexGen, but for the entire industry, as storage is no longer a nice-to-have, but rather, essential to meeting global energy demand and opportunities,” said FlexGen CEO, Kelcy Pegler. “With this acquisition, we will continue to deliver the reliability and intelligence the grid, data centers and communities need to thrive in a world of growing energy needs.”
Drawing on 15 years of integration experience with over 65 configurations from 22 global vendors, FlexGen is prepared to deliver immediate continuity and support for Powin customers. With its full suite of lifecycle services and hardware-agnostic FlexGen HybridOS® software products, FlexGen meets operators where they are today while driving an AI-centric roadmap for its analytics module and sophisticated controls software. The impact is futureproofing customer investments with maximum uptime and minimal disruption.
“Our top priority is customer success and delivering immediate operational stability, maximizing the value and performance of their systems. FlexGen’s proven financial strength means we’re a capital-light software and services partner that will remain in business to deliver on our customer promises,” added Gary Cristini, FlexGen’s CFO. “We thank Powin for their early-mover role in shaping the dynamic and important grid-scale battery market and honor our commitment to carry on that legacy and deliver exceptional uptime, reliability and customer success.”
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