Prevalon Energy: Mitsubishi Power's BESS Business Evolution
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Mitsubishi Power Americas has decided to spin off its battery energy storage solutions (BESS) business into a standalone entity called Prevalon Energy LLC. This move is aimed at increasing focus on innovation and accelerating expansion in the sector. Prevalon Energy will inherit a pipeline of over 30 battery projects and a 3-GWh portfolio of utility-scale BESS capacity deployed globally, positioning it as an established business with the agility of a start-up.
The rebranded business will retain its current leadership team, technology, and service offerings, continuing to provide Mitsubishi Power's end-to-end battery energy storage solution under the name Prevalon Battery Energy Storage Platform. President and CEO of Mitsubishi Power Americas, Bill Newsom, expressed confidence that the dedicated focus of Prevalon on BESS solutions and services will unlock more value in the rapidly growing battery energy storage market.
What is the new standalone entity for Mitsubishi Power Americas' battery energy storage solutions?
- The new standalone entity for Mitsubishi Power Americas' battery energy storage solutions is called Prevalon Energy LLC.
- Prevalon Energy will inherit a pipeline of over 30 battery projects and a 3-GWh portfolio of utility-scale BESS capacity deployed globally.
- The rebranded business will retain its current leadership team, technology, and service offerings.
- Prevalon Energy will continue to provide Mitsubishi Power's end-to-end battery energy storage solution under the name Prevalon Battery Energy Storage Platform.
- President and CEO of Mitsubishi Power Americas, Bill Newsom, expressed confidence that the dedicated focus of Prevalon on BESS solutions and services will unlock more value in the rapidly growing battery energy storage market.
