Two powerhouses in the flywheel and uninterruptable power supply (UPS) markets have merged after Active Power was sold to Piller Group.
The German firm’s purchase, which was announced in September but only finalised recently, comes as it angles itself for a greater share of the critical power market.
Confirmation of the deal came after a vote by the Texas, US-based firm’s shareholders.
Under the terms of the sale Agreement, Active Power will now be known as P10 Industries Inc.
The acquisition of Active Power is expected to compliment Piller’s business, which uses flywheel technology in its own range of UPS products, including its Powerbridge.
Active Power had installed base of around 5,000 kinetic energy storage units before the deal.
Andrew Dyke, Piller Group managing director – global businesses, said: “The synergies between the two companies are clear and the products complementary, providing a solid platform from which to strengthen and grow Piller’s position in the critical power sector by combining the talents, products and services of both organisations.”
Mark A Ascolese, President and CEO of Active Power, will remain behind with the company.
The deal comes as some industry analysts predict the flywheel market will top $477 million within 10 years as data centre growth feeds demand for UPS and energy storage systems.
North America was the largest market for flywheel energy storage systems in 2015, with a share of more than 77%.