Nextpower launches energy storage business following Prevalon acquisition
Integrated energy solution firm Nextpower has announced its completion of its acquisition of Prevalon Energy, advancing its energy platform to include storage, hybrid power, and AI data center-based applications.
Originally announced in May 2026, the acquisition allows Nextpower to move into the next phase of its wider business strategy, the company says. The company can now provide end to end solutions spanning power plant design, deployment, optimization, and long-term asset operations. With the addition of Prevalon’s energy storage business, the company’s platform extends beyond solar and into batteries, energy management, and power control.
Nextpower co-founder and CEO Dan Shugar says the Prevalon team will continue to run under CEO Tom Cornell, who has led the firm since it spun off from Mitsubishi Power Americas’ battery storage business in early 2024.
“Reliable energy storage is foundational to designing, building, and operating critical energy infrastructure,” Shugar says. “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.”
Adding a proven track record
Headquartered in Heathrow, Florida, Prevalon offers Nextpower a variety of services for grid-connected storage, as well as hybrid power plants, AI data center infrastructure and “other critical power applications.” The firm adds that it has a long proven track record since its founding, with more than 6 GWh of storage systems deployed worldwide as of July 2026.
“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,” Shugar says. “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.”
Along with the acquisition, Nextpower also announced the grant of inducement awards to former Prevalon employees. The awards consist of 810,733 performance-based restricted stock units, as well as 375,000 service-based restricted stock units.
