US-listed energy technology company Nextpower (Nasdaq: NXT) has completed its acquisition of Prevalon Energy, a US-headquartered provider of large-scale battery energy storage systems, power stabilisation solutions and lifecycle services, extending its integrated platform beyond solar into the rapidly growing energy storage market, as reported by Business Wire.

Prevalon brings a proven portfolio of more than 6GWh of energy storage systems deployed worldwide, along with energy management software and power control technologies. The acquisition enables Nextpower to serve utility-scale customers and data centre developers with a broader range of technologies spanning grid-connected storage, hybrid power plants and critical power infrastructure.

Prevalon Energy will continue to be led by Tom Cornell, who founded and has run the company since its inception. The Prevalon team joins Nextpower's approximately 2,000-strong global workforce.

Dan Shugar, founder and CEO of Nextpower, said: "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. It also provides Nextpower with a significant foothold in one of the fastest growing segments of the global power industry. As demand for electricity accelerates, utilities, power producers, data center developers, and grid operators need accountable, bankable partners that can deliver reliable, dispatchable power at unprecedented scale and speed. With our customer-centric approach, reputation for high-quality execution, and proven ability to rapidly scale, Nextpower is uniquely positioned to serve both continued growth of utility-scale solar and the rapidly growing energy storage market."

In connection with the closing, Nextpower has granted inducement awards to former Prevalon employees, comprising 810,733 performance-based restricted stock units and up to 375,000 service-based restricted stock units tied to Nextpower's Class A common stock. The RSUs vest over four years, while the PSUs are tied to Prevalon's gross profit performance through March 2030.

The acquisition follows Nextpower's separate announcement of a definitive agreement to acquire Zimmermann PV-Steel Group, a Germany-based solar technology provider with more than 20GW deployed and a strong presence in the German market.

Nextpower, headquartered in Fremont, California, provides integrated technology solutions for utility-scale solar and energy storage, partnering with customers worldwide across power plant design, deployment, optimisation and long-term operations.