|By Business Wire||
|April 14, 2014 01:50 PM EDT||
Younicos Inc., a wholly-owned subsidiary of Younicos AG, a Berlin-based company, acquired Xtreme Power’s assets with a winning bid in a chapter 11 auction supervised by the US District Bankruptcy Court of West Texas.
Younicos Inc. acquired all relevant strategic assets and will also retain members of Xtreme Power’s former management, engineering, business development and operations team. The former Xtreme Power team joins Younicos with industry leading experience in designing, implementing and servicing over 78 MW of energy storage installations for a wide range of applications and has provided several years of profitable up time and 24/7 customer support for a multiple installations and customers.
James P. McDougall, CEO of Younicos: “This is a historic and strategic moment for Younicos. We’re onboarding a great and talented team, acquiring important assets, know-how and customer relationships that are complementary to our current product and services offering. Younicos AG is the industry leader in Europe. The Xtreme Power asset acquisition and joining of forces establishes Younicos firmly in North America, one of the highest potential growth markets for large scale energy storage applications. We look forward to integrating the two teams under the Younicos flag and in doing so becoming the world leader in large scale energy storage solutions.”
Younicos and Xtreme Power have historically been industry leaders on their respective sides of the Atlantic. The two companies have independently developed solutions that integrate key infrastructure elements including multiple battery technologies, inverters and power control systems with proprietary software that sense and react to the needs of a wide range of power and energy management requirements for grid-scale and island solutions.
Younicos is currently building Europe’s first stand-alone commercial battery park in Schwerin, Germany and is providing the software for Europe’s biggest commercial energy storage trial in Leighton Buzzard, UK.
Xtreme Power was among the few companies in the industry with multi-megawatt installations in the field. Teaming up with Duke Energy it implemented the largest US wind energy storage system at the Notrees wind power project in west Texas. In Hawaii and Alaska, Xtreme Power’s energy management systems are deployed at five locations providing island renewable integration and grid support.
This acquisition and combination of teams positions Younicos in a global leadership role and as the go-to-company for megawatt-scale energy storage solutions.
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