Hitachi Energy acquires eks Energy
Hitachi Energy announced its acquisition of a controlling stake of eks Energy, a supplier of power electronics and energy management solutions for storage and renewables integration.
Hitachi Energy acquires eks Energy (Image source: Hitachi Energy)
Switzerland, Zürich: Hitachi Energy announced its acquisition of a controlling stake of eks Energy, a supplier of power electronics and energy management solutions for storage and renewables integration.
Eks Energy is based in Seville, Spain, and was acquired from Powin LLC, a global energy storage system provider. The investment marks the establishment of a strategic partnership with Powin, who maintains a significant ownership stake in eks Energy.
As the world transitions to renewable energy sources, the global demand for battery energy storage systems (BESS) surges and is expected to grow more than 20 percent per year through 2030. By combining eks Energy’s power electronics and advanced control capabilities with its automation, software, and system integration offerings, Hitachi Energy fortifies its position as a leading-edge technology provider to the renewables and BESS market. Hitachi Energy and Powin aim to apply their strength to develop power conversion products designed for the next generation of energy storage systems.
“Hitachi Energy has been an innovative force in the BESS and microgrid space for more than 30 years, and this strategic acquisition demonstrates our continued commitment to deliver the most advanced and proven solutions for our customers,” said Massimo Danieli, Managing Director for the Hitachi Energy Grid Automation Business Unit. “The market has made it clear that it needs and wants energy solutions powered by best-in-class power electronics integrated with control and digital capabilities. New applications and use cases are emerging every day, driven by the ever-increasing need for integration of renewable resources in the grid and electrification at the grid edge. eks Energy has an impressive product deployment footprint in North America and Europe. With this significant addition to our portfolio, Hitachi Energy is ready to address the demands of the fast-growing global BESS market with speed and scale.”
“This strategic investment marks a significant milestone in the energy storage industry, as it paves the way for Hitachi, Powin and eks Energy to align their strengths in exploring new opportunities on a global scale as well as an ability to better serve new and existing customers,” said Jeff Waters, CEO of Powin.
The addition of eks Energy to the Hitachi Energy portfolio demonstrates accelerated traction on the company’s 2030 strategic growth plan. Hitachi Energy is continuously strengthening its power grids core business while advancing the world’s energy system to be more sustainable, flexible and secure.
Source: Hitachi Energy