Nextpower has finalized its previously announced acquisition of energy storage manufacturer Prevalon Energy, marking the start of its energy storage
Nextpower has completed its previously disclosed purchase of energy storage manufacturer Prevalon Energy, officially launching the company into the energy storage sector. Prevalon manufactures energy storage equipment within the United States for the utility-scale power market, and its products currently account for 6 GWh of deployed capacity worldwide.
“We are very pleased to welcome the talented Prevalon team to Nextpower. The team will continue to be run by Tom Cornell, who led Prevalon as CEO since its founding,” said Dan Shugar, founder and CEO of Nextpower, in a press release. “Reliable energy storage is foundational to designing, building and operating critical energy infrastructure. The addition of Prevalon expands our ability to serve utility-scale customers and data centers with a broader portfolio of proven technologies from a trusted, bankable partner.”
The company revealed in May that it intended to acquire Prevalon in a transaction valued at $365 million. Before the sale, Prevalon operated as part of Mitsubishi Power America. Alongside its battery energy storage system offerings, the company also created its own proprietary control platform designed to manage and operate those battery systems. Employees moving from Prevalon to Nextpower are being granted stock units in their new parent organization.
Previously known as Nextracker, Nextpower began as a manufacturer focused on single-axis solar tracking systems. During the past several years, the company has broadened its presence by purchasing businesses operating in related areas of the solar industry. Before these acquisitions, it had already increased domestic production of its solar trackers through partnerships with contract manufacturing companies located across the United States.
At present, Nextpower's portfolio extends beyond solar trackers to include products for electrical balance of systems, inverters, structural foundations, solar module frames, robotics, operations and maintenance services, and now energy storage solutions.
Originally reported by Solar Power World on Jul 20, 2026.
