Nextpower has completed the previously announced acquisition of Prevalon Energy, a manufacturer of energy storage solutions, marking the beginning of its energy storage business. Prevalon produces domestically energy storage products for the utility-scale energy market, with 6 gigawatt-hours deployed globally to date.

"We are delighted to welcome the talented Prevalon team to Nextpower. The team will continue to be led by Tom Cornell, who has served as Prevalon's CEO since its inception," said Dan Shugar, founder and CEO of Nextpower, in the press release. "Reliable energy storage is the foundation for designing, building, and operating critical energy infrastructure. The addition of Prevalon expands our capabilities to serve utility-scale customers and data centers, offering a broader and more mature portfolio of technologies from trusted and reliable partners.". ”

Nextpower announced its plan to acquire Prevalon for $365 million in May. Prevalon had previously operated under the business umbrella of Mitsubishi Electric in the U.S. In addition to battery energy storage systems, the company also developed a proprietary control system to operate its battery products. Employees of Prevalon will receive stock units from the new parent company Nextpower after the transition.

Nextpower, formerly known as Nextracker, was initially a single-axis solar tracker manufacturer. Over the past few years, it has acquired businesses covering complementary areas in the solar market. Prior to this, the company expanded its domestic solar tracker production by collaborating with contract manufacturers nationwide.

Today, Nextpower retains the system's electrical balance products, inverters, structural foundations, solar module frames, robotics, operations and maintenance, and now energy storage, except for solar trackers.