Oregon-Based Energy Storage Firm Powin Files for Bankruptcy Amid $500 Million Debt
Powin, LLC, the a U.S.-based global energy storage integrator with headquarters and their main engineering location are based in Tualatin, Oregon filed a Chapter 11 bankruptcy petition in the District of New Jersey yesterday.
The company, who set out on a mission to become the world’s most trusted energy storage provider, enabling clean and reliable energy specializes in designing and manufacturing advanced energy storage solutions for utility, commercial, and industrial applications.
Powin, LLC have offices in Portland, Oregon and it’s affiliate, Battery Lab, is located in Tualatin.
The bankruptcy petition was filed jointly with eight affiliated entities, including Powin Energy Ontario Storage, LLC, Powin Energy Operating Holdings, LLC, and Powin China Holdings entities.
The filing indicates assets and liabilities both in the range of $100-$500 million, with between 1,000 and 5,000 creditors.
Powin, LLC Files Chapter 11 Bankruptcy
🚨 BANKRUPTCY FILING ALERT 🚨
Powin, LLC
Chapter 11 – District of New Jersey
Filed: June 10, 2025
Case No. 25-16137📊 Assets: $100M-$500M | Liabilities: $100M-$500M | Total Creditors: 1,000-5,000 | Industry: Energy Storage Manufacturing… pic.twitter.com/Fybt9eGcYj
— RK | Consultants (@_RKConsultants) June 10, 2025
The biggest unsecured creditor is Ace Engineering & Co., Ltd. with a claim of approximately $100 million, and Qingdao CIMC-POWIN New Energy Technology Co. has a claim of about $49 million. Powin has indicated that funds will be available for distribution to unsecured creditors.
Dentons US, LLP have been retained as general bankruptcy counsel and Gerard Uzzi of Uzzi & Lall is serving as Chief Restructuring Officer.