Case Study
Powin Energy
Overview
- 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
Similar Case Studies
-
Cross-border sale of renewable energy company to strategic acquirer.
-
Challenging market entry and interest from international players.