The global demand for energy storage solutions has reached a critical juncture, and major tech brands are all finding new ways to enter the space and expand. This week, renowned global tech company Hitachi Energy announced a collaboration with energy storage platform provider Powin. Hitachi Energy will take majority ownership in eks Energy (EKS) — a power electronics and energy management solutions supplier previously purchased by Powin in September 2022.
As a part of the transaction, Powin retains a significant minority ownership in EKS and will remain actively involved in EKS’ product development and marketing efforts. To date, Powin has deployed over 3,200 MWh of battery systems worldwide with 11,900 MWh under construction.
Powin and Hitachi Energy brass say this sale marks “the commencement of an ambitious strategic relationship,” and that both are committing to deeper technical and commercial collaboration. Initiatives include joint marketing activities, the integration of EKS’s technologies into Powin’s product roadmap, and the inclusion of Powin’s batteries in Hitachi Energy’s solutions at the edge of the energy system.
“The market has made it clear that it needs and wants energy solutions powered by best-in-class power electronics integrated with control and digital capabilities,” said Massimo Danieli, Managing Director for Hitachi Energy Grid Automation Business Unit. “EKS has an impressive product deployment footprint in North America and Europe, and under Powin has further extended their global reach.”
EKS details | For EKS, this deal provides access to Hitachi Energy’s engineering and control capabilities, expanded market reach, and supply chain optimization and leverage.
The EKS Power Conversion System and Power Plant Controller deliver a complete AC energy storage platform capable of advanced control functionality to support microgrid applications. Other 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.
“This is an incredible opportunity for Powin and Hitachi Energy to partner on shaping the future of the PCS solution,” said Powin CEO Jeff Waters. “Hitachi Energy’s expertise in research and development and impressive grid-edge capabilities will accelerate EKS’ continued growth and aid our shared mission to reinvent the global energy storage industry with safe, reliable, and scalable solutions.”
— Solar Builder magazine