Media Room
Nextpower Announces Entry into Battery Energy Storage and AI Data Center Markets with Definitive Agreement to Acquire Prevalon Energy
May 28, 2026
- Acquisition is expected to extend Nextpower’s solar power technology platform with the integration of BESS and energy management software.
- Expands market opportunity for energy infrastructure to serve the utility grid, AI data centers, and industrial power systems.
- Prevalon has over 6 GWh of BESS systems deployed globally and 1.3 GW of firm supply contracts supporting AI and hyperscaler data center infrastructure deployments.
- Transaction expected to be accretive to FY27 financial outlook.
FREMONT, Calif., May 28, 2026 — Nextpower™ (Nasdaq: NXT), a leading provider of solar and power technology solutions for utility-scale power plants, today announced it has entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, not including cash to be acquired, comprising cash and stock. Closing of the transaction is subject to customary closing conditions, including antitrust regulatory review.
The acquisition is expected to extend Nextpower’s technology platform across BESS and intelligent controls for critical power infrastructure. The Company projects that the global demand for BESS outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. comprising up to $15 billion.
In connection with the transaction, Nextpower is raising its fiscal year 2027 outlook, which assumes the successful closing of the transaction. Nextpower now expects fiscal 2027 revenue of approximately $4.0 billion to $4.4 billion, compared to its prior outlook of $3.8 billion to $4.1 billion, and adjusted EBITDA of approximately $845 million to $930 million, compared to its prior outlook of $825 million to $900 million.
“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.”
“Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS to deliver fully integrated firm power solutions,” said Dan Shugar, founder and CEO of Nextpower.
Prevalon’s BESS technology supports applications where power quality, rapid response, and deployment speed are critical, including AI data centers, private grids, grid-connected storage, and industrial power systems.
“Prevalon shares Nextpower’s relentless focus on innovation, quality, reliability, and customer success,” said Tom Cornell, President and CEO of Prevalon Energy. “Operating as part of Nextpower, we can leverage their global reach and deep client relationships.”
The acquisition continues Nextpower’s evolution to a comprehensive, integrated energy technology platform spanning structural systems, electrical infrastructure, power conversion, storage, controls, automation, and software.
The transaction is expected to close in Q2 FY27, subject to customary regulatory approvals and closing conditions.
FY2027 Annual Outlook
| Metric | Updated Outlook | Previous Outlook |
|---|---|---|
| Revenue | $4.0 to $4.4 billion | $3.8 to $4.1 billion |
| GAAP Net Income | $507 to $573 million | $501 to $559 million |
| GAAP Diluted EPS | $3.22 to $3.64 | $3.19 to $3.56 |
| Adjusted EBITDA | $845 to $930 million | $825 to $900 million |
| Adjusted Diluted EPS | $4.30 to $4.73 | $4.21 to $4.59 |
Updated outlook includes planned incremental costs of approximately $50 million related to the acceleration of Nextpower’s entry into the power conversion market.
Investor Conference Call and Webcast
Nextpower will host an investor conference call and webcast to discuss the acquisition today, May 28, at 2 p.m. PT / 5 p.m. ET. The live webcast and presentation materials are available at investors.nextpower.com.
About Nextpower
Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.
About Prevalon Energy LLC
Commitment, reliability, expertise. These are the ideals that guide our decision making, design philosophy, and relationship building. Prevalon™ Energy LLC (Prevalon), a Mitsubishi Power Americas and EES joint venture, is empowering companies to deploy flexible energy solutions and accelerate a more sustainable energy future. With over 35 projects and 6+ GWh of utility-scale global battery energy storage deployed, Prevalon delivers end-to-end integrated battery energy storage solutions that ensure performance throughout the entire project lifecycle. From design and engineering, energy management systems integration, commissioning, and long-term service programs, the Prevalon Battery Energy Storage Platform meets the demands of your energy system today and into the future. For more information, visit PrevalonEnergy.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the acquisition of Prevalon by Nextpower, future financial and operating results of Prevalon and Nextpower, the future demand for BESS, opportunities in the energy infrastructure market, and the benefits of the transaction and future opportunities for the combined company.
These forward-looking statements are based on current expectations and assumptions and may differ materially from actual results due to various risks and uncertainties, including the ability of Nextpower to successfully integrate Prevalon’s operations, products and employees, unexpected costs, market demand, customer and supplier relationships, macroeconomic trends, and regulatory developments.
Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.
