August 15, 2025: Flexgen Power Systems said on August 6 it had been given court approval to acquire a substantial portion of the business of US-based BESS developer Powin.

Batteries International reported last June that Powin had voluntarily filed for Chapter 11 protection under the US Bankruptcy Code in the District of New Jersey.

Powin said the decision was part of moves to tackle financial liabilities and secure its core businesses — which would include spinning off a new business entity to encompass its existing monitoring and energy services operations.

Now BESS tech company Flexgen said it will own all of Powin’s IP, including hardware and software IP and information technology systems, plus a significant spare parts inventory.

Once the acquisition is finalized, FlexGen will support over 25GWh of battery energy storage systems and 200 projects across 10 countries in its portfolio.

FlexGen said it would draw on its 15 years of integration experience with over 65 configurations from 22 global vendors to support Powin customers.

FlexGen CEO Kelcy Pegler said: “This is a significant milestone, not just for FlexGen, but for the entire industry, as storage is no longer a nice-to-have, but rather, essential to meeting global energy demand and opportunities.”

Last May, Powin unveiled its ‘Pod Max’, which the company said was its most powerful and energy-dense product to date.

Delivering 6.26MWh of capacity in the same 20-foot liquid-cooled container as previous models, the Pod Max offers a 25% increase in energy density over Powin’s standard 5MWh system.