Powin
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Catalyst 2
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4 statements about Powin, every show
FlexGen bought Powin service rights without assuming warranty coverage
“FlexGen, who stepped in. They purchased many of the rights to service many of the Powen portfolio, but they're not covering the warranties.”
Powin bankruptcy driven by mismanagement and chasing short-term growth
“It's, you know, still open question, but in my view it came down to mismanagement at Powen. They were chasing short-term growth and profits without putting enough emphasis on long-term risk management.”
Powin filed for Chapter 11 months after $200M KKR investment
“So they received a two hundred million or so capital injection from KKR, One of the biggest names in private equity as a backer, and then only a few months later, they filed chapter 11.”
Tariff risk pushed down the supply chain is causing energy storage delays
“And effectively, what's happening now is you're seeing a bit of a push from off-takers to try and push more of the tariff risk onto developers, and developers trying to push it more onto you know, guys like us, like the integrators and the cell suppliers. And …”