Nextpower acquires Prevalon Energy in up to $365 million battery energy storage systems deal

Type: Acquisition · Technology: Storage · Country: United States · Value: $365M · Announced: 2026-05-29

Nextpower has agreed to acquire Prevalon Energy, a US-based battery energy storage systems (BESS) joint venture between Mitsubishi Power Americas and EES, for a total consideration of up to $365 million comprising cash and shares. The transaction is expected to close in Q2 2027, subject to customary regulatory approvals and closing conditions. Prevalon Energy specializes in battery storage technology for utility-scale storage, industrial power systems, private grids, and data centers, offering products such as the Hybrid Power Stabilizer platform and insightOS software for controls and asset management. Nextpower’s CEO Dan Shugar highlighted that many customers have rapidly expanded storage programs and requested integrated power solutions, driving the need for Prevalon’s BESS platform. The acquisition will expand Nextpower’s technology platform into battery storage, intelligent controls, and critical power infrastructure, strengthening its position in the energy storage market. Prevalon’s BESS hardware and software platform addresses complex use cases for utility-connected and self-powered AI data centers, including grid stabilization and GPU AI workload smoothing.

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