Private equity firms Trilantic North America and Energy Impact Partners have bought a controlling interest in Powin Energy Corp.
Powin has worked to advance its patented battery management technology and develop product offerings. The company was founded in 1989 as a contract manufacturing company with a supplier network and relationship base in Asia. Powin’s aim is to make safe and cost-effective energy storage products that improve the way energy is generated, transmitted, and distributed for utilities, IPPs, and energy consumers.
“For many years, the key constraint to wide-scale renewable energy adoption was the lack of an economic storage solution,” said Glenn Jacobson, partner at Trilantic. “Powin’s differentiated manufacturing and supply chain expertise puts the company at the forefront of the significant improvements we’re seeing in the economics of battery storage.”