Powin, a manufacturer of battery energy storage systems, has raised $135 million in growth equity.
GIC, Singapore's Sovereign Wealth Fund led the investment, with participation from Trilantic Energy Partners North America and Energy Impact Partners.
The company provides software and hardware solutions for battery storage and has delivered over 2,500 MW of BESS in 12 states and eight countries.
Powin's contracted pipeline stands at more than 10,000 MWh for the next two years.
"We look forward to using this investment to empower utilities, IPPs, and other businesses to ensure that no energy is left to waste as we work to mitigate climate change," Powin CEO Geoff Brown said in a statement.
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Powin's 88 MW/387 MWh battery storage project in California. The BESS is paired with a solar farm. (Courtesy: Powin)Powin's battery storage options can be used for grid service and transmission and distribution deferral, as well as behind-the-meter, microgrid and solar+storage applications.
The company claims to provide safer and more reliable lithium-ion storage options to customers, boasting over 500,000 hours of incident-free operations.
Powin's battery storage options can be used for grid service and transmission and distribution deferral, as well as behind-the-meter, microgrid, and solar+storage applications.
Powin will use the latest investment to scale its global manufacturing, further develop its suite of products, and support its relationship with international suppliers.
