Oregon-based power storage firm Powin Energy has filed for Chapter 11 chapter safety within the District Court docket of New Jersey. The corporate claims its estimated money owed are not less than $300 million.
Powin fashioned in 2010 and operated as a world storage supplier, designing every part within the system however the lithium cells. Powin had established contract manufacturing relationships all through the USA to make the modules, racks and full methods for domestic-content functions. A number of the largest unpaid collectors Powin listed on its chapter paperwork are Chinese language and Korean battery expertise suppliers.
Only one month in the past, Powin unveiled a new liquid-cooled battery power storage system that would ship 6.26 MWh. Powin deployed its personal built-in software program suite in its methods referred to as StackOS — which included power, battery and thermal administration methods.
Within the chapter filings, Powin revealed its restructuring plan: spinoff its StackOS providing as a brand new standalone firm and promote the remainder of its belongings. The engineering and set up facet of the enterprise was decided to be unsustainable after two massive firms canceled their initiatives.
The corporate says that there are greater than $2 billion of Powin utility-scale BESS deployed within the area, they usually rely upon the StackOS platform for his or her continued operation. This equates to over 17 GWh of BESS worldwide that might be unable to function tomorrow with out Powin’s software program.
