Powin and Akaysha Energy Announce 1.7 Gigawatt-Hour Energy Storage Supply Framework Agreement | New

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MELBOURNE, Australia and PORTLAND, Oregon–(BUSINESS WIRE)–August 30, 2022–

Powin LLC (Powin), a global provider of energy storage platforms, and Akaysha Energy, one of Australia’s leading battery storage developers, today announced a framework partnership agreement under which Powin is to deploy more 1.7 GWh of energy storage systems over the next two years.

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Powin Centipede Battery Energy Storage System (Photo: Business Wire)

This partnership with Akaysha represents Powin’s entry into one of the largest and most sophisticated energy markets in the world. As Australia continues to decommission fossil fuel power plants and invest more in renewables, energy storage is key to maintaining grid reliability while keeping energy prices low .

With over 3 GWh of energy storage capacity in its portfolio, Akaysha was recently acquired by a fund managed by the Climate Infrastructure business of BlackRock Real Assets. BlackRock Real Assets recently announced its intention to engage more than 1 billion Australian dollars ($700 million) in capital to support Akaysha’s development of battery storage assets in Australia.

“Having a diverse competitive landscape is essential in the Australian ESS market. Powin’s flexible and vertically integrated business model reduces project costs and risks by having multiple vendors of trusted cells, proprietary software and ‘an internal power plant controller,’ said Nick Carter, CEO of Akaysha Energy.

Akaysha has partnered with Powin for the performance, reliability and security capabilities of their Stack product line and the StackOS control system. Using their advanced StackOS power plant controller, the engineering team at Powin and Akaysha have been working closely for several months and are well advanced in the process of interconnecting the grid, including the generator performance standard mandated by the Australian grid operator required to enter the market and interconnect generation to the Australian grid on initial plans.

“This partnership is a key step as we expand our global presence and invest in new regions,” said Powin CEO Geoff Brown. “Powin has spent the past decade developing our product to bring the benefits of clean, reliable electricity to the world. We are delighted to partner with Akaysha Energy on this project because of their unparalleled knowledge of the Australian energy market and their team’s extensive experience in creating jobs and critical infrastructure to help Australia achieve its net zero goals.

On July 12, 2022, the United States and Australia signed the Australia-US Partnership for Accelerating Net-Zero Technology to accelerate the development and deployment of zero-emission technologies that reduce greenhouse gas emissions and drive economic growth. The United States and Australia have a common goal of achieving net zero carbon emissions by 2050. Both countries have recognized the critical role that energy storage will play in reducing emissions by accelerating the adoption of renewable energy and improving grid reliability.

About Powin, LLC (Powin):

Powin is a world leader in the design and manufacture of secure and scalable energy storage solutions. Our innovative and cost-effective hardware and software are revolutionizing the way energy is generated, transmitted and distributed, helping the world achieve its decarbonization goals. Powin has delivered over 2,500 MWh of BESS to over 8 different countries and has a contracted pipeline to deliver over 10,000 MWh of energy storage systems globally over the next three years. To learn more, please visit www.powin.com.

About Akaysha Energy (Akaysha)

Akaysha Energy brings together leading experience in energy markets, technology, development, asset management and capital markets for the end-to-end development of battery energy storage systems (BESS ) and renewable energy projects in Australia and the APAC region. For more information on Akaysha Energy, please visit www.akayshaenergy.com.au.

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CONTACT: Amy Silber

[email protected]

KEYWORD: OREGON AUSTRALIA/OCEANIA AUSTRALIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER MANUFACTURING ENVIRONMENT TECHNOLOGIES OTHER ENERGY UTILITIES ALTERNATIVE ENERGY MANUFACTURING GREEN TECHNOLOGY ENERGY BATTERIES

SOURCE: Powin LLC

Copyright BusinessWire 2022.

PUBLISHED: 8/30/2022 6:00 PM / DISK: 8/30/2022 6:02 PM

http://www.businesswire.com/news/home/20220830005975/en

Copyright BusinessWire 2022.

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