Headquartered in Oregon, Powin Energy Corporation (“Powin”) is a global leader in the design and manufacture of safe and scalable battery energy storage solutions
For nearly a decade, Powin worked to advance its patented battery management technology and develop market leading product offerings at the lowest price
At the time of the transaction, Powin had built over 600 MWh of systems, supporting 54 projects in 10 states and 8 countries. Powin had a contracted pipeline to supply over 4,000 MWh of energy storage systems globally over the next five years
Situation
Powin was in need of working capital on their balance sheet to facilitate a large influx of contracted projects
The Company’s founding shareholders were looking for liquidity
The Company had received inbound interest from multiple sources
Cascadia Capital was engaged by Powin to pursue a broader marketing effort
Cascadia Process
Cascadia initially facilitated a convertible debt offering, providing the Company with cash while it pursued a market outreach
Cascadia positioned Powin around its sizeable project pipeline, favorable margins, and superior technology
Cascadia ran a controlled process reaching out to a select group of potential investors and buyers that understood the energy storage market
Trilantic Capital Partners & Energy Impact Partners acquired a majority interest in the Company