Younicos acquires Xtreme Power Assets

17.04.2014

Younicos Inc., a wholly-owned subsidiary of German Younicos AG, completed the strategic acquisition of the bankrupt US company Xtreme Power. Younicos acquired all relevant assets and will also retain employees of Xtreme Power.

By acquiring the other big player in the energy storage business, Younicos becomes the world leader for multiple battery technologies, inverters and smart power control systems. Besides the Xtreme Power assets Younicos will also retain members of the company’s former management, engineering, business development and operations team.

Energy storage expert Younicos is currently building Europe’s first stand-alone commercial Battery Park in Schwerin, Germany. Additionally they are providing the software for Europe’s biggest commercial energy storage trial in Leighton Buzzard, UK. Xtreme Power was one of the few companies that had implemented multi-megawatt installations, such as the largest US wind energy storage system at the Notrees wind power project in west Texas. The former Xtreme Power team will join Younicos with their experience in designing, implementing and servicing over 78 MW of energy storage installations.

James P. McDougall, CEO of Younicos commented on the acquisition: “This is a historic and strategic moment for Younicos. We’re onboarding a great and talented team, acquiring important assets, know-how and customer relationships that are complementary to our current product and services offering. Younicos AG is the industry leader in Europe. The Xtreme Power asset acquisition and joining of forces establishes Younicos firmly in North America, one of the highest potential growth markets for large scale energy storage applications. We look forward to integrating the two teams under the Younicos flag and in doing so becoming the world leader in large scale energy storage solutions.” 

Tanja Peschel

Similar Entries

At this week’s Energy Storage Europe conference, Younicos is launching a new “Energy-Storage-as-a-Service” rental offering, allowing customers to meet immediate storage requirements and tap into multiple opportunities in fast-evolving markets – without risk or long-term capital commitment. Customers can choose from a range of containerised solutions, which will be shipped to their site and operated by Younicos.

Battery storage integrator Younicos, together with its parent company Aggreko – the leading global provider of modular, mobile power – are launching a new microgrid-as-a-service offer. Customers around the world can benefit from this new modular and mobile approach, combining low-cost renewables, in particular solar, with thermal generation and battery storage in one single contract with flexible conditions.

At Energy Storage Europe, exhibitors will for the first time present market-ready flywheel, redox flow and Power-2-X storage solutions under one roof. A further focus is on swarm storage concepts, which combine numerous decentralised storage units with each other and thus assume the functions of large storage facilities. The trade fair and conference will take place at the exhibition grounds in Düsseldorf from 13 to 15 March.

According to the current estimate of the German Energy Storage Association (Bundesverband Energiespeicher e. V. - BVES), the energy storage industry will grow by around 11 per cent in 2018 and will generate a turnover of approximately EUR 5.1 billion. Medium-sized companies are the main driving force behind this increase. The development of ENERGY STORAGE EUROPE reflects this industry trend: With a total of 170 exhibitors and about 4.500 visitors, also this year's energy storage trade fair and the two conferences ESE and IRES continued the positive development of the past years.