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.”