Texas-based digital power management and energy storage company Xtreme Power has filed for chapter 11 bankruptcy protection in the Western District Courts of Texas so that an unidentified creditor can file a stalking horse bid to acquire it. Xtreme Power will remain active, and its engineering, project development and operational staff will all remain in place throughout the bidding process. It is looking for a competing offer by February 28th.
Xtreme Power creates energy storage systems for power generators, grid operators and commercial and industrial end users, and it has 12 projects active in the field, including a storage system for Duke Energy’s Notrees Wind Farm, which is the largest battery storage project for a wind farm in the United States at 36 megawatts.
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