Nextpower Inc. shares briefly touched an all-time high after the solar tracking provider agreed to buy battery company Prevalon Energy for as much as $365 million, marking the solar-tracking provider’s move into energy storage and the fast-growing AI data-center market.
The deal for Prevalon, a joint venture of Mitsubishi Power Americas and EES, will be paid with a mix of cash and stock, Fremont, California-based Nextpower said Thursday in a statement.
“It’s not just bringing us into the battery-energy-storage business, this brings us into the data-center power-supply business,” Nextpower Chief Executive Officer Dan Shugar said of the transaction in ...
