• Acquisition is expected to extend Nextpower's solar power technology platform with the integration of BESS and energy management software
  • Expands market opportunity for energy infrastructure to serve the utility grid, AI data centers, and industrial power systems
  • Prevalon has over 6 GWh of BESS systems deployed globally and 1.3 GW of firm supply contracts supporting AI and hyperscaler data center infrastructure deployments
  • Transaction expected to be accretive to FY27 financial outlook

Nextpower™ (NASDAQ:NXT), a leading provider of solar and power technology solutions for utility-scale power plants, today announced it has entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, not including cash to be acquired, comprising cash and stock. Closing of the transaction is subject to customary closing conditions, including antitrust regulatory review.

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Featured technology: Prevalon Energy's Hybrid Power Stabilizer (HPS) at an AI data center

The acquisition is expected to extend Nextpower's technology platform across BESS and intelligent controls for critical power infrastructure. The Company projects that the global demand for BESS outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. comprising up to $15 billion.

In connection with the transaction, Nextpower is raising its fiscal year 2027 outlook, which assumes the successful closing of the transaction. Nextpower now expects fiscal 2027 revenue of approximately $4.0 billion to $4.4 billion, compared to its prior outlook of $3.8 billion to $4.1 billion, and adjusted EBITDA of approximately $845 million to $930 million, compared to its prior outlook of $825 million to $900 million. Nextpower will provide additional details on its updated outlook during an investor conference call later today.