Powin Acquires EKS to Deliver Fully Integrated Grid-Scale Energy Storage Systems

Global energy storage platform provider Powin LLC (Powin) today announced the acquisition of EKS Energy (EKS), a leading provider of advanced power electronics and energy management solutions for energy storage and renewables. This transaction ensures new and existing Powin customers will receive enhanced product and technology offerings, enabling Powin to deliver a fully integrated grid-scale energy storage experience with supply chain security.

As the world transitions to cleaner energy sources, global demand for energy storage will continue to surge to an estimated market of $49 billion by 2028, according to Bloomberg New Energy Finance. To better serve this fast-growing market, this acquisition expands Powin's offering to include the EKS Power Conversion System and Power Plant Controller, enabling Powin to deliver a complete AC energy storage platform capable of advanced control functionality to support microgrid applications while interfacing with multiple generation assets. Other new products include PV inverters, DC-to-DC converters and multi-port inverters, which are used to maximize performance and profits for utility-scale solar plus energy storage projects.

"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," said Powin CEO Geoff Brown. "This landmark deal accelerates our mission to building the grid of the future by delivering safe, scalable and integrated storage solutions."

"With over a decade of experience and 4.5GW of global inverter installations, the EKS Energy team has proven to be able to deploy and interconnect our solutions in many of the toughest and complicated grid conditions in the world. With Powin, there is endless potential in how we can integrate our software capabilities, as well as our AC and DC hardware together into a seamless package at large scale," said EKS Energy CEO, Javier Landero.

Both Powin and EKS remain committed to serving our customers by offering a wide range of energy storage solutions to build a cleaner, safer, and more resilient power grid.

About Powin

Powin is a global leader in the design and manufacture of safe and scalable energy storage solutions. Our innovative and cost-effective hardware and software are revolutionizing the way energy is generated, transmitted, and distributed, helping the world achieve decarbonization objectives. Powin has delivered over 2,500 MWh of BESS in over 8 different countries and has a contracted pipeline to supply over 10,000 MWh of energy storage systems globally over the next three years. To learn more, please visit www.powin.com.

About EKS Energy

EKS is a designer, manufacturer and system integrator of advanced power electronics and energy management solutions for distributed energy generation/storage and grid management to address energy market challenges. Since 2002, EKS develops "turnkey" energy solutions, through the complete integration of renewables and/or storage systems, with the aim of meeting both the needs of the client and the most demanding grid codes, even in harsh environments.