By order dated August 18, 2025, the United States Bankruptcy Court for the District of New Jersey approved the sale of certain assets of Powin LLC and its affiliated debtors to FlexGen Power Systems. The sale subsequently closed the morning of August 19, 2025.
Powin and its affiliates, an Oregon-based manufacturer of utility-scale battery energy storage systems and a provider of related energy services, with offices around the world in Vietnam, China, Canada, Australia, and Spain, commenced their chapter 11 cases on June 9 and 10, 2025, to restructure approximately $300 million in liabilities. As part of the restructuring process, Powin spun off its monitoring and energy services operations into a new entity, Powin Project LLC, to preserve core service capabilities to critical customers and ensure continuity. Approval of the sale represents a significant milestone in the debtors’ efforts to maximize value for stakeholders and preserve the business as a going concern.
The Togut Firm serves as co-counsel to the Powin debtors alongside Dentons US LLP. Additional information about the Powin chapter 11 cases is available here.
