Fremont, Calif., May 28, 2026 – Nextpower today announced it has signed a definitive agreement to acquire Prevalon Energy, a U.S.-based joint venture between Mitsubishi Power Americas and EES, for up to $365 million in cash and stock (excluding cash to be acquired). Subject to customary closing conditions, including antitrust regulatory review, the acquisition will extend Nextpower’s technology platform into battery energy storage systems (BESS) and intelligent controls for critical power infrastructure, including AI data centers.
Nextpower estimates that global demand for BESS outside China could reach $35 billion by 2030, with the U.S. market accounting for as much as $15 billion. In connection with the transaction, the company raised its fiscal 2027 outlook, assuming deal closure: revenue is now expected to range from $4.0 billion to $4.4 billion (up from $3.8 billion to $4.1 billion), and adjusted EBITDA is projected at $845 million to $930 million (versus $825 million to $900 million previously). Nextpower will provide further details during an investor conference call later today.
“Prevalon was the perfect choice for Nextpower to expand into BESS,” said Markus Wilhelm, founder and CEO of Strata Energy. “Both companies are technology focused and understand power, utilities, and complex use cases for customers. Prevalon’s BESS hardware and software platform solves challenging problems for utility-connected and self-powered AI data centers, including inertia support, grid stabilization, contingency management, and GPU AI workload smoothing. This is a differentiated, competitive advantage that Nextpower’s customers will value.”
“Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS,” added Dan Shugar, founder and CEO of Nextpower. “Prevalon’s proven hardware and software platform, along with its engagement with major hyperscalers and a seasoned delivery team, will open new market opportunities in AI data center power supply applications.”
Prevalon’s technology supports applications where rapid response, power quality, and deployment speed are critical. Its Hybrid Power Stabilizer manages sudden load changes and grid stability, while the HD5™ DC block and HD5™ AC block products provide modular storage building blocks backed by insightOS controls, monitoring, diagnostics, and long-term service capabilities.
Tom Cornell, president and CEO of Prevalon Energy, noted that operating within Nextpower’s global network will enhance customer access to innovative storage and control solutions from an investment-grade partner with decades of power-generation expertise.
The transaction is expected to close in the second quarter of fiscal 2027, pending regulatory approvals and other customary conditions.
Source: Business Wire
