Global energy storage platform provider Powin LLC has announced a new partnership with global technology leader Hitachi Energy. Accordingly, Hitachi Energy will take majority stakes in eks Energy (EKS).

Powin got EKS in September 2022. EKS is a leading supplier of power electronics and energy management solutions for renewables and energy storage projects.

This deal will provide EKS with access to Hitachi Energy’s advanced engineering and control capabilities, expanded market reach, and supply chain optimization and leverage. Meanwhile, Powin and Hitachi Energy’s shared market vision will ensure all companies are ready for future innovation and growth.

Rapid Growth of Renewable Energy Sources

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. This sale marks the commencement of a strategic relationship between Powin and Hitachi Energy. Moreover, both companies are committing to deeper technical and commercial collaboration. Initiatives include joint marketing activities and the integration of EKS’s technologies into Powin’s product roadmap. Furthermore, it will also cover the inclusion of Powin’s batteries in Hitachi Energy’s solutions at the edge of the energy system.

The global demand for energy storage solutions has reached a critical juncture. Primarily, driven by the rapid growth of renewable energy sources and the electrification of various sectors. Most importantly, there is an increasing awareness of the need for sustainable and resilient energy infrastructure.

Hence, this strategic alliance will build off Powin’s extensive battery expertise while leveraging Hitachi Energy’s experience in the electric energy industry.

Advances Global Expansion

“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. In addition, Waters said Powin has played a pivotal role in EKS’s remarkable success, facilitating its impressive growth. At the same time, advancing their global expansion. Thus, he said Hitachi Energy’s expertise in research and development and impressive grid-edge capabilities will accelerate EKS’ continued growth.

Meanwhile, Massimo Danieli, Managing Director for Hitachi Energy Grid Automation Business Unit said the market has made it clear that it needs and wants energy solutions. Particularly, powered by best-in-class power electronics integrated with control and digital capabilities.

“EKS has an impressive product deployment footprint in North America and Europe under Powin. (It) has further extended their global reach. With this significant addition to our portfolio, Hitachi Energy is ready to address the demands of the fast-growing global BESS market with speed and scale.”

To date, Powin has deployed over 3,200 MWh of battery systems worldwide with 11,900 MWh under construction. Powin’s fully integrated business model is enabling the company to scale to meet the rising international demand for energy storage.