Energy storage firm Powin grabs $135m

The investors are GIC, Trilantic North America and Energy Impact Partners.

  • Evercore served as financial advisor to Powin on the transaction
  • Trilantic North America invests in the middle market
  • Headquartered in Singapore, GIC was established in 1981

Powin, a provider of energy storage solutions, has secured a $135 million growth equity investment. The investors are GIC, Trilantic North America and Energy Impact Partners.

“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, in a statement. “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.”

Evercore served as financial advisor to Powin for the transaction and Kirkland & Ellis LLP acted as legal counsel. Sidley Austin LLP served as legal counsel to GIC in relation to the transaction.

Powin has delivered over 2,500 MWh of BESS in 12 states and eight countries and has a contracted pipeline to supply over 10,000 MWh of energy storage systems globally over the next two years.

Trilantic North America is a middle market private equity firm focused on control and significant minority investments in North America.

Headquartered in Singapore, GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future.
Energy Impact Partners LP is a venture firm focused on leading the transition to a sustainable future.