Hitachi Energy, a provider of sustainable energy and power grid solutions, has completed the acquisition of the remaining stake in eks Energy, a provider of power electronics and energy management solutions for integrating storage and renewables.
In 2022, energy storage system provider Powin acquired eks Energy to expand Powin’s offering to include the eks Power Conversion System and Power Plant Controller, enabling the company to deliver a complete AC energy storage platform.
Then, later in 2023, Powin sold the majority of the company’s stake to Hitachi, which acquired the remaining shares of eks Energy after Powin filed for bankruptcy earlier this year.
The acquisition is expected to enhance Hitachi Energy’s power conversion system technology for energy storage. Power converters play a critical role in connecting a power source to a power supply, ensuring that currents and voltages are balanced correctly to meet end-user demand.
The integration of eks Energy’s technology and talent is stated to provide Hitachi Energy with greater strategic and operational flexibility.
“As the worldwide market leader in grid automation solutions, the acquisition of eks Energy strengthens our leadership position, enabling one of the industry’s most comprehensive solution portfolios that combines proven converter and control technology with Hitachi Energy’s global scale, unparalleled grid expertise, and digital capabilities,” said Massimo Danieli, Managing Director of Hitachi Energy’s Business Unit Grid Automation.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage, in the first half of 2025, there were three M&A transactions in the energy storage sector, down from 14 in the first half of 2024.
In November, Lyten, a developer of lithium-sulfur batteries, announced the acquisition of a lithium-metal battery manufacturing facility and cell-making equipment in San Leandro, California, from Cuberg, a battery manufacturer owned by Northvolt. It will also acquire battery cell development and manufacturing equipment, as well as make additional equipment investments, to expand the facility’s capacity.
