Altira Congratulates FlexGen on Powin Assets Acquisition and Growth in Global Energy Storage Leadership
Friday, August 29, 2025
DENVER, Aug. 21, 2025 /PRNewswire/ -- Altira Group LLC ("Altira"), a leading venture capital firm investing in breakthrough energy and technology solutions, today congratulated its portfolio company FlexGen Power Systems, LLC ("FlexGen") on the successful acquisition of key assets and intellectual property from Powin. The acquisition cements FlexGen's role as a global leader in grid-scale energy storage and expands the reach of its HybridOS® software and lifecycle services.
FlexGen has grown from a promising innovator to one of the foremost providers of energy storage systems worldwide. "FlexGen's acquisition of Powin's assets represents a significant step forward in the company's growth and its ability to tackle the real challenges facing today's energy systems--grid reliability, power stability, and the surging demand driven by AI and renewables," said Dirk McDermott, Founder and Managing Partner of Altira, and a member of FlexGen's Board of Directors.
With the addition of Powin's assets, the company now supports more than 25 GWh of deployed energy storage capacity across 200 projects in 10 countries. This milestone reflects FlexGen's expanding scale and impact in modernizing electricity grids to meet global demand.
FlexGen's growth underscores its role as a clear category leader. Its ability to integrate technology across geographies and hardware types is redefining what grid-scale storage can achieve. This success not only benefits customers but also strengthens grid reliability and supports growing power needs, including the surge from AI.
Altira is proud to have led the company's first outside capital raise, continued to participate in subsequent funding rounds, and now congratulates the FlexGen leadership team on this important achievement.
About Altira
Altira Group is a Denver-based venture capital firm focused on investing in technology-driven solutions that advance the future of energy. With more than 25 years of experience, Altira partners with entrepreneurs developing breakthrough innovations in energy storage, efficiency, and infrastructure. The firm goes beyond capital, providing strategic support, operational expertise, and deep industry relationships to help portfolio companies accelerate growth and impact. For more information, visit www.altiragroup.com.
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SOURCE Altira Group LLC
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