Powin, a global company in battery energy storage solutions, secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR, a global investment firm. The facility will be instrumental in supporting Powin’s working capital needs, driving continued innovation and further enhancing the company’s financial flexibility as it expands its leadership position in the storage industry.
“We are excited to have KKR, a renowned leader in the investment community, supporting our mission to be the most trusted energy storage partner in the industry,” Jeff Waters, CEO of Powin, said. “This facility enables us to accelerate our expansion, drive innovation and maximize value for our customers, reinforcing our commitment to advancing a sustainable energy future.”
“Powin stands out as a leader and innovator in the clean energy space,” Sam Mencoff, a director at KKR, said. “We are proud to support them and their efforts to expand the use of battery energy storage systems through our deep experience in asset-based finance.”
