GIC, Singapore's sovereign wealth fund, with participation from lead investors Trilantic Energy Partners North America and Energy Impact Partners (EIP), have made a $135 million growth-equity investment in Powin, an energy-storage solutions company.
In recent years, Powin has built a 10-gigawatt-hour energy storage business. The investment will help scale Powin's global manufacturing, further develop its suite of products and support its relationship with international suppliers. Essentially, it will be used to empower utilities, IPPs and other businesses to conserve energy.
“We are grateful for this investment from GIC, Trilantic North America and EIP,” said Geoff Brown, CEO of Powin. “We appreciate the vote of confidence and believe that it demonstrates both the market leadership position of our business and our customers’ trust in us to change the way they generate, transmit and distribute electricity.”