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Nextpower Completes Prevalon Acquisition to Expand into Energy Storage

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US energy technology firm Nextpower (NXT) said on Tuesday it had completed the acquisition of battery energy storage provider Prevalon Energy.

The move aims to expand Nextpower's business beyond solar power as demand for grid-scale storage and power infrastructure accelerates.

The deal adds Prevalon's battery energy storage systems, energy management software, power control technologies and lifecycle services to Nextpower's portfolio.

Nextpower did not disclose the financial terms of the acquisition.

The acquisition expands Nextpower's integrated energy technology platform to include grid-connected battery storage, hybrid power plants and infrastructure supporting artificial intelligence data centers, alongside its existing solar business.

Prevalon has deployed over 6 gigawatt-hours of energy storage systems worldwide, giving Nextpower an established presence in the utility-scale storage market.

Separately, Nextpower said it granted equity awards to former Prevalon employees as an inducement to join the company following the acquisition.

The awards include about 810,733 performance-based restricted stock units and up to 375,000 service-based restricted stock units tied to Nextpower's Class A common stock.

The RSUs will vest over four years, while the PSUs will vest based on Prevalon's gross profit performance between April 2026 and March 2030, subject to continued employment.

The acquisition comes as rising electricity demand, driven by renewable energy integration and the expansion of AI data centers, boosts investment in battery storage systems that help stabilize electricity grids and provide dispatchable power.

Price: $107.18, Change: $+6.94, Percent Change: +6.93%

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