Image: Powin
On May 29, U.S.-based top energy storage system integrator Powin LLC submitted a Worker Adjustment and Retraining Notification (WARN) to the Oregon state government. The notice cited "unforeseeable business circumstances" and stated the company may cease operations on July 28, 2025, terminating all 250 employees.
Under Oregon law, employers with over 100 workers must provide 60 days' notice to employees and the government prior to shutdowns or mass layoffs.
Powin attributed the decision to facing "significant financial challenges", driven primarily by policy-induced adversities in the industry, electricity price fluctuations driving up costs, and uncertainties surrounding Investment Tax Credit (ITC) eligibility rules.
Earlier, on January 23, 2025, battery leader Contemporary Amperex Technology Co. Limited (CATL) sued Powin demanding payment of an overdue 310 million yuan (approx. $44 million USD) trade receivable, exposing Powin's cash flow crisis. However, another key supplier EVE Energy Co., Ltd. (EVE) stated on January 27, 2025, that its collaboration and payments with Powin remained "normal and stable", with no reports of payment defaults.
