Mitsubishi Power Americas spins off BESS business

Mitsubishi Power Americas is separating its battery energy storage solutions (BESS) business as a standalone entity in an effort to put greater focus on innovation and speed up its expansion in the sector.

The business has been spun off into Prevalon Energy LLC, which operates as a wholly-owned subsidiary of Mitsubishi. According to a press statement, the new entity will inherit a pipeline of more than 30 battery projects and a 3-GWh portfolio of utility-scale BESS capacity deployed worldwide, positioning it to “operate as a proven and established business, with the agility of a start-up.”

The transformed battery solutions business will be rebranded but will keep its current leadership team, technology and service offerings. Prevalon will continue to offer Mitsubishi Power’s end-to-end battery energy storage solution under the name Prevalon Battery Energy Storage Platform name.

“With the establishment of Prevalon, we are confident its dedicated focus on battery energy storage solutions and services will unlock more value in this business to keep pace with this hyper-growth battery energy storage market,” said Bill Newsom, president and CEO of Mitsubishi Power Americas.

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