Marine energy storage and battery company PBES and power generation company Sterling and Wilson have announced a strategic partnership agreement.
The agreement sees Sterling and Wilson acquiring a significant portion of PBES equity, thereby helping to stabilize PBES and move the company forward in its marine electric and hybrid energy storage business, while providing a strategic component in Sterling and Wilson’s portfolio.
“Sterling and Wilson is an exceptional strategic partner for PBES,” said Brent Perry, CEO at PBES. “Its outstanding organization and understanding of large power systems makes it an ideal partner strategically, as well as financially, in supporting us in taking PBES to the next level. We are delighted to announce this agreement and look forward to introducing their team and full range of products and services to our key customers and stakeholders in coming weeks, and long-term success over the coming years."
Sanjay Jadhav, CEO at Sterling and Wilson Powergen, added: “PBES technology is undoubtedly the best-quality and safest energy storage product in the industrial sector. Key features such as CellCool and CellSwap were designed for marine applications, but we believe they can make great sense across a broad range of industrial applications. We look forward to incorporating their technology throughout our business."
- June 2019