Mitsubishi Power spins battery storage business into separate company Prevalon

Mitsubishi Power Americas is transforming its battery energy storage solutions (BESS) business into a standalone and legally separated company, Prevalon. Prevalon will concentrate independently on battery energy storage. It enters the market with an established track record, robust pipeline of global projects, and proven technology from Mitsubishi Power’s BESS business.

The BESS business at Mitsubishi Power produced over 30 projects, and 3 GWh of utility-scale battery energy storage systems (BESS) deployed globally. With this BESS global experience, Prevalon is positioned to operate as an established business, but with “the agility of a “start-up,” the company says.

“As the speed of the energy transition increases, it is imperative that advanced technology solutions such as battery energy storage keep pace,” said Bill Newsom, President and CEO, Mitsubishi Power Americas. “With the establishment of Prevalon, we are confident its dedicated focus on battery energy storage solutions and services will unlock more value in this business to keep pace with this hyper-growth battery energy storage market.”

The new entity retains the current leadership team, technology and service offerings, employees, and other assets from the BESS global business at Mitsubishi Power.

Prevalon will continue to offer the integrated end-to-end battery energy storage solution, renamed to “Prevalon Battery Energy Storage Platform,” which is designed to be flexible to specific project needs.

“Our core mission is to design and deploy safe, reliable, secure, and groundbreaking battery energy storage solutions, contributing to a more sustainable future,” says Tom Cornell, President & CEO, Prevalon. This vision drives our unwavering dedication to co-create tailored solutions with our customers, fast-tracking the progress toward a seamless energy transition.”

Mitsubishi Power Americas, headquartered in Lake Mary, Florida, employs more than 2,800 power generation, energy storage, and digital solutions experts and professionals.

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