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Hitachi Energy Acquires Eks Energy To Advance Sustainable Energy Future

KUALA LUMPUR, Oct 24 (Bernama) -- Hitachi Energy has acquired a controlling stake of eks Energy, a leading supplier of power electronics and energy management solutions for storage and renewables integration, based in Seville, Spain, from Powin LLC (Powin).

According to Hitachi Energy in a statement, the investment also marks the establishment of a strategic partnership with Powin, who maintains a significant ownership stake in eks Energy.

“The market, including leading BESS system integrators, has made it clear that it needs and wants energy solutions powered by best-in-class power electronics integrated with control and digital capabilities.

“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,” said Hitachi Energy Grid Automation Business Unit Managing Director, Massimo Danieli.

Meanwhile, Powin Chief Executive Officer, Jeff Waters said 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.

As the global demand for battery energy storage systems (BESS) continues to surge, Hitachi Energy fortifies its position as a leading-edge technology provider to the renewables and BESS market by combining eks Energy’s power electronics and advanced control capabilities with its own highly complementary automation, software, and system integration offerings.

With the strategic partnership, Hitachi Energy and Powin aim to apply the strength of the two firms to develop power conversion products specifically designed for the next generation of energy storage systems.

The addition of eks Energy to the Hitachi Energy portfolio demonstrates accelerated traction on the company’s 2030 strategic growth plan, as the company is continuously strengthening its power grids core business while advancing the world’s energy system to be more sustainable, flexible and secure.

This acquisition increases its core capabilities at the edge of the grid including digital, power electronics and services, toward the larger goal of advancing a sustainable energy future for all.

Nomura Greentech acted as exclusive financial advisor and Shearman & Sterling as legal advisor to Hitachi Energy.

-- BERNAMA

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