Sensata Technologies, an industrial technology company that develops sensors, sensor-based solutions, controllers and software, and other mission-critical products, announced the acquisition of Dynapower, a provider of energy storage solutions from private equity firm Pfingsten Partners, for $580 million.

“Dynapower enables us to deliver highly engineered, mission-critical power conversion solutions to fast-growing renewable energy storage, electric vehicle charging, industrial and defense customers and provide a foundational piece to accelerate our Electrification growth vector,” said Jeff Cote, CEO and President of Sensata Technologies.

Dynapower provides energy storage and power conversion solutions, including inverters, converters, rectifiers, and custom transformers for renewable energy generation, green hydrogen production, electric vehicle charging stations, and microgrid applications, as well as industrial and defense applications.

“My team and I are looking forward to joining Sensata and continuing to drive growth and innovation in the clean energy space as a part of an organization with Sensata’s resources, reach, and commitment to engineering excellence,” said Dynapower’s CEO, Adam Knudsen.

This week, Equinor, a renewable energy company, signed an agreement to acquire a 100% stake in East Point Energy, a battery storage developer in the US.

Recently, German-based Sonnen – which produces home energy storage systems for private households and small businesses – has acquired Webatt Energia, an installer of solar PV and energy storage products. The acquisition supports Sonnen in expanding its sales and creates additional capacity for future growth.

According to Mercom’s Q1 2022 Funding and M&A Report for Storage, Grid, and Efficiency, there were five M&A transactions involving Battery Storage companies in Q1 2022. In Q4 2021, there were nine M&A transactions. YoY, there were four Battery Storage M&A transactions in Q1 2021.