Directory profiles · Battery Business Directory
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Sources and links on page 49 (7)
Links embedded in the original report PDF, including citations and other references. These destinations have not been independently reviewed. Links open in a new tab.
- https://chapter11cases.com/blogs/news/energy-storage-company-powin-files-joint-liquidation-plan-after-54-million-in-asset-sales?srsltid=AfmBOopDyXOHfHh21BVPRvX0pjj47ayV1_ODFxER6graVtvm-0VuRlLJ
- https://www.canarymedia.com/articles/energy-storage/powin-bankrupt-grid-batteries
- https://www.energy-storage.news/powin-files-for-chapter-11-bankruptcy-protection-and-spins-off-project-services-business/
- https://www.energy-storage.news/catl-seeking-us44-million-in-overdue-payments-from-powin-for-battery-shipments-in-2022-23/
- https://www.veritaglobal.net/powin/document/2516137251017000000000011
- https://www.togutlawfirm.com/blog/2025/08/powin-llc-sale-approved-by-new-jersey-bankruptcy-court/?utm_source=chatgpt.com
- https://ccwd.hecc.oregon.gov/Layoff/uploads/LOT9249/WARN%209249%20Powin%20LLC%20-%20Oregon.pdf
Text on page 49
Powin’s Chapter 11: A Post-Mortem Powin, LLC, and multiple affiliates, filed Chapter 11, U.S. Bankruptcy Court in June citing “suffering from liquidity constraints, an over dependence on trade credit, increasing assertions of liquidated damages, and a credibility problem.” Top unsecured creditors include Ace Engineering (enclosures) and CATL (cells), among others. During the bankruptcy proceedings, the debtors completed three major asset sales totaling $54 million. FlexGen was the largest sale at $36M, and they purchased IP and spare-parts inventory FlexGen is dedicated to service operating Powin systems. Key takeaways:
Counterparty risk is real - even for market leaders
Thin-margin integrators squeezed by vertically integrated OEMs
Trade policy/tariff volatility can tip a shaky balance sheet
Supplier disputes can cascade into liquidity crises
LDs + schedule slips + damaged credibility = a doom loop
Warranties are only as good as the warrantor’s solvency
Incident history matters and can cause a reputation drag
Source: Stretto, Canary Media, Energy Storage News, Energy Storage News, Verita Global, Togut, Segal & Segal LLP. Oregon Rapid Response Activity Tracking System
Extracted from the PDF; charts and images may read imperfectly.
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