Powin LLC, an energy storage service provider, has purchased EKS Energy, a power electronics and energy management services company for energy storage and renewables.
The acquisition aims to allow Powin to deliver a fully integrated grid-scale energy storage service with supply chain security. Powin’s offerings will include the EKS Power Conversion System and Power Plant Controller, looking to deliver an AC energy storage service that is capable of advanced control functionality to support microgrid applications. According to Bloomberg New Energy Finance, the global demand for energy storage will continue to rise to an estimated market of $49 billion by 2028 as the world transitions to cleaner energy sources.
“The EKS acquisition will give us direct access to an industry-leading team, their power conversion technology, advanced controls, and decade’s worth of experience; enabling Powin to offer a fully wrapped solution to further enhance the customer experience,” comments Geoff Brown, Powin CEO. “This landmark deal accelerates our mission to building the grid of the future by delivering safe, scalable and integrated storage solutions.”