Mitsubishi Power announces Prevalon, standalone company dedicated to fast-growing battery energy storage market

Mitsubishi Power Americas is transforming and rebranding its battery energy storage solutions (BESS) business into a standalone and legally separated company, PrevalonTM . Designed as a dedicated pure-play vehicle for innovation and growth in the battery energy storage space, Prevalon enters the market with an established track record, robust pipeline of global projects, and proven technology from Mitsubishi Power’s BESS business.

This strategic shift is the first step to empower Prevalon to concentrate independently on battery energy storage and positions the company as a catalyst for embracing technological advancements and attracting investments in the rapidly evolving energy transition landscape.

Prevalon brings significant experience from the BESS business at Mitsubishi Power – over 30 projects, and three gigawatt hours (GWh) of utility-scale battery energy storage systems (BESS) deployed globally. With this BESS global experience, Prevalon is well-positioned to operate as a proven and established business, with the agility of a “start-up.” It will empower customers to deploy flexible battery energy storage solutions as a means to accelerate toward a more sustainable energy future.

The new entity retains the current leadership team, technology and service offerings, employees, and other assets from the BESS global business at Mitsubishi Power. Prevalon will continue to offer the integrated end-to-end battery energy storage solution, renamed to “Prevalon Battery Energy Storage Platform,” which is designed to be flexible to specific project needs with a robust, intelligent, and cyber secure energy management system that will also serve as the foundation for Prevalon’s remote monitoring and diagnostics service business.

“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.”

“Today marks a thrilling milestone for our team,” expressed Tom Cornell, President & CEO, Prevalon. “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. 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 unwavering dedication to co-create tailored solutions with our customers, fast-tracking the progress toward a seamless energy transition.”