In Short : The energy storage market in North America is dynamically consolidating. In order to secure intellectual property (IP), spare parts, and current project control, FlexGen has purchased the assets of its insolvent competitor Powin. As a symbol of its strategic development across the energy storage and recycling value chains, the multinational mining behemoth Glencore has successfully completed a credit bid acquisition of lithium-ion battery recycler Li-Cycle, including its important facilities and intellectual property.
FlexGen Enhances Market Domination
Powin’s intellectual property, spare parts inventory, and field project control have been bought by FlexGen, an energy storage integrator and management software provider, who will incorporate them into its Remote Operations Center and HybridOS energy management system. FlexGen can now handle more than 25 GWh of deployed storage capacity across 200 projects in 10 countries thanks to this acquisition.
Glencore Joins the Frontlines of Recycling
Canadian lithium-ion battery recycling Li-Cycle has successfully completed a court-approved restructuring while under bankruptcy protection. Li-Cycle now owns the Rochester Hub project, its intellectual property, and its spoke facilities in North America and Germany as a result of Glencore’s successful credit bid. The acquisition marks Glencore’s growing commitment in battery supply chain vertical integration and brings an end to a process that was started because of Li-Cycle’s financial and technical difficulties, even with previous government-backed loan help.
About the Companies
FlexGen Power Systems, a leader in energy storage technology with headquarters in Durham, provides HybridOS energy management software together with modular BESS hardware. Its operating footprint and technological assets are expanded through the Powin acquisition.
Li-Cycle Holdings operates regional facilities for “black mass” recovery and processing, with a focus on scalable lithium-ion battery recycling. By gaining control over Li-Cycle’s recycling infrastructure in North America and Europe, Glencore, a significant participant in mining and commodity trading, is able to enhance its position in clean energy supply chains.
