Powin Announces $135M Growth Equity Investment from GIC, Trilantic North America and EIP

Powin LLC announced a $135 million growth equity investment led by GIC, Singapore's Sovereign Wealth Fund (GIC), with participation from existing lead investors Trilantic Energy Partners North America (Trilantic North America) and Energy Impact Partners (EIP).

July 15, 2022. By News Bureau

Powin LLC announced a $135 million growth equity investment led by GIC, Singapore's Sovereign Wealth Fund (GIC), with participation from existing lead investors Trilantic Energy Partners North America (Trilantic North America) and Energy Impact Partners (EIP).

The partnership and investment epitomize Powin's mission to lead the sustainable transformation and decentralization of the world's outdated electrical grids.

"We are grateful for this investment from GIC, Trilantic North America, and EIP. We appreciate the vote of confidence and believe that it demonstrates both the market leadership position of our business and our customers' trust in us to change the way they generate, transmit, and distribute electricity," said Geoff Brown, CEO of Powin. "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."

Energy storage technology is set to play a pivotal role in the transformation of electrical grids and global decarbonization due to the rapid expansion of renewable energy.

The investment will scale Powin's global manufacturing, further develop its suite of products, and support its relationship with international suppliers.

Powin has grown rapidly in recent years, building out a 10 gigawatt-hour energy storage business despite supply chain disruptions, an uncertain regulatory environment, and the rising cost of capital.

This growth has been fueled by Powin's differentiated manufacturing approach, innovative software, and supply chain expertise, enabling them to efficiently deliver the safe, intelligent energy storage systems customers need to reduce project risk and increase project revenues.

"Grid-scale energy storage is crucial if we hope to accelerate the world's transition to a new energy economy – and Powin's reputation as a leading, technology-forward energy storage platform has helped to cement its position at the forefront of this generational market trend," said Glenn Jacobson, Chairman of Powin Board of Directors and Managing Partner of Greenbelt Capital Partners. "We are excited to have GIC and Samsung Ventures join as partners in this investment, and support Powin as it continues to use its platform to accelerate adoption of the fundamental structural changes in how energy is produced, stored, and consumed."

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