Xtreme Power files for bankruptcy, AES Energy Storage hits milestone
- Energy storage company Xtreme Power filed for bankruptcy and plans to keep operating while it seeks a buyer.
- A few years ago, Xtreme Power planned to make 2,000 MW of batteries a year, but the company stopped making batteries last year as revenue dropped. The company has installed about 78 MW.
- Meanwhile, AES Energy Storage reported that it has delivered to its clients 1.5 million MWh from its battery systems. The company has a fleet of batteries totaling 174 MW.
- AES offers utilities complete battery-based alternatives for resource adequacy and advanced reserves.
The news from Xtreme Power and AES Energy Storage is probably typical for an emerging technology. Ultimately, the strongest companies with the best technology should be able to grow.
“With more than 1,000 MW of storage capacity targeted for procurement in California alone, we are encouraged to see grid storage growing in markets around the world,” Chris Shelton, AES Energy Storage president, said.