Powin provides fully integrated battery energy storage solutions, combining hardware, software, and services to optimize grid performance. The company offers end-to-end energy storage systems and reports 17 GWh of projects deployed and under construction. Powin positions itself as a leader in the rapidly expanding energy storage market and aims to accelerate expansion and drive continued innovation. The company intends to use new capital to support working capital needs and enhance financial flexibility. Equity investors include Greenbelt Capital Partners, Trilantic, and Energy Impact Partners, and Guggenheim Securities served as financial advisor. Powin’s strategy is framed around meeting rising demand for storage driven by renewable expansion and the need for grid resiliency. Powin develops battery energy storage systems and integration technology, including its own battery modules and racks called Stacks. The company built StackOS, an energy storage management platform that combines a battery management system (BMS), energy management system (EMS) and thermal management system (TMS). Powin counts customers such as Invenergy, EDF, Southern Power, Idaho Power, Ameresco, Borrego, Leeward Energy and STEM. The company said it raised $135 million in funding led by Singapore’s sovereign wealth fund GIC, with participation from Trilantic Energy Partners North America and Energy Impact Partners. Powin did not disclose a valuation or its cumulative amount raised, but CEO Geoff Brown said the new capital will scale global manufacturing and infrastructure, further develop its product suite, and support relationships with international suppliers and global customers. A recent strategic partnership with Samsung C&T and prior funding from Samsung Venture Investment are expected to help Powin expand into the Middle East and Southeast Asia. Powin designs and manufactures integrated hardware and software battery energy storage systems and has developed patented battery management technology. The company says it has built over 600 MWh of systems across 54 projects in 10 states and 8 countries, and has a contracted pipeline to supply over 4,000 MWh globally over the next five years. Powin positions its products as safe, cost‑effective, and bankable solutions for utilities, IPPs, and energy consumers. Management plans to accelerate growth and execute planned innovations within its integrated platform following the new investment. The company emphasizes supply‑chain and manufacturing expertise developed since its founding and evolution into Powin Energy. Powin’s stated mission is to enable higher renewables penetration, non‑wires alternatives, and power decentralization to support grid decarbonization.

Total raised

$335M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Oct 2024