Nextpower Bets on Battery Storage, AI Data Centers With $365M Prevalon Deal

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Sun, May 31, 2026 astatine 1:02 PM CDT 7 min read

Key Points

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Nextpower has agreed to get Prevalon Energy for up to $365 million, expanding beyond star into utility-scale artillery storage, controls, bundle and lifecycle services. The woody is taxable to regulatory and different customary closing conditions and is expected to adjacent close the extremity of Nextpower’s fiscal archetypal quarter.
The acquisition is aimed astatine positioning Nextpower successful the AI information halfway powerfulness supply market, with absorption highlighting Prevalon’s technology, backlog and hyperscaler/customer relationships. Nextpower said the woody gives it contiguous vulnerability to artillery vigor retention request driven by rising energy needs from AI, electrification and grid modernization.
Nextpower raised its fiscal 2027 outlook to bespeak Prevalon’s expected contribution, present projecting gross of $4.0 cardinal to $4.4 billion and adjusted EBITDA of $845 cardinal to $930 million. Management said Prevalon’s backlog is expected to beryllium importantly supra $300 cardinal astatine closing, supporting the updated forecast.

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Nextpower (NASDAQ:NXT) said it has entered into a definitive statement to get Prevalon Energy, a utility-scale artillery vigor retention systems provider, successful a transaction the institution said would grow its level beyond star into storage, controls, bundle and lifecycle services.

Founder and CEO Dan Shugar said connected an capitalist telephone that the acquisition would enactment Nextpower “immediately successful the BESS and AI information halfway powerfulness proviso business” done Prevalon’s technology, backlog and team. The woody remains taxable to customary closing conditions, including regulatory approvals.

Deal Terms and Updated Outlook

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Chief Financial Officer Chuck Boynton said Nextpower volition get Prevalon for full information of up to $365 million. That includes astir $150 cardinal successful archetypal currency consideration, $50 cardinal of Nextpower banal and up to $165 cardinal of contingent currency information tied to nett targets implicit 4 years.

Boynton said the transaction is expected to adjacent close the extremity of Nextpower’s fiscal archetypal quarter, taxable to antitrust reappraisal and different customary conditions. He besides said Nextpower expects the transaction to adjacent with much than $75 cardinal of currency and currency equivalents.

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