Mitsubishi Power Creates Standalone BESS Company: Prevalon Energy

Mitsubishi Power Americas is rebranding its battery energy storage solutions (BESS) business into a standalone, legally separated company called Prevalon Energy LLC. The independent company is designed as a dedicated vehicle for growth in the BESS market. Prevalon Energy will enter the space with an established track record, a pipeline of global products, and technology from Mitsubishi Power’s BESS business.

This shift will enable Prevalon Energy to concentrate solely on battery energy storage and positions the business as a catalyst for technological advancements and attracting investments in the energy transition landscape. Prevalon relies on experience from the BESS business at Mitsubishi Power, which has over 30 projects and 3 GWh of utility-scale battery storage systems installed globally.

“As the speed of the energy transition increases, it is imperative that advanced technology solutions such as battery energy storage keep pace,” said Bill Newsom, President and CEO, Mitsubishi Power Americas. “With the establishment of Prevalon, we are confident its dedicated focus on battery energy storage solutions and services will unlock more value in this business to keep pace with this hyper-growth battery energy storage market. This is an example of Mitsubishi Power’s commitment to aligning and structuring its businesses in a way that brings more value and targeted expertise to the ever-changing energy transition.”

Prevalon retains the current leadership team, technology and service offerings, employees, and additional assets from the BESS global business at Mitsubishi Power. The standalone will offer an integrated end-to-end BESS, renamed to “Prevalon Battery Energy Storage Platform”, which is designed to be flexible to project needs with an intelligent, cyber secure energy management system. This system will serve as the foundation for Prevalon’s remote monitoring and diagnostics service business.

Tom Cornell, President & CEO, Prevalon Energy; Image Credits: Business Wire

"Today marks a thrilling milestone for our team. The establishment of Prevalon as a pioneering force committed to innovating products and services in the sector is a response to the escalating demand in the battery energy storage segment,” said Tom Cornell, President & CEO, Prevalon. “Our core mission is to design and deploy safe, reliable, secure, and groundbreaking battery energy storage solutions, contributing to a more sustainable future. This vision drives our dedication to co-create tailored solutions with our customers, fast-tracking the progress toward a seamless energy transition."