Overview

• FlexGen completed the purchase of most Powin assets and all intellectual property, following U.S. Bankruptcy Court approval on August 6.
• The acquisition includes Powin’s software, hardware and IT systems plus spare parts, with FlexGen hiring former Powin employees to preserve customer support.
• FlexGen says it now supports more than 25 GWh of storage across 200+ sites in 10 countries and will connect Powin projects to its Remote Operations Centre with HybridOS available to customers while remaining hardware-agnostic.
• Powin reported another 25 layoffs, including nine in Oregon, after the asset sale, following nearly 250 job cuts announced at the time of its June Chapter 11 filing.
• Separately, Glencore acquired Li-Cycle’s facilities and Rochester Hub project, assumed some liabilities, and plans to resume construction as the recycler’s court-run sale process concludes.