Nextpower has signed a definitive agreement to acquire assets from Zigor Corporation’s power conversion business, including its US-based subsidiary, Apex Power. Nextpower says the deal is intended to expand its utility-scale solar power conversion portfolio and support entry into battery energy storage and data center markets.
The acquired technology includes modular, field-deployed inverter designs. Nextpower says the inverter technology targets new battery storage and solar inverter applications at 1500 V, repowering applications at 600 V and 1000 V, and is “2000 V ready.” The modular skid design can be configured up to 5.2 MVA.
For data center engineers, the practical relevance is the link between grid-side power electronics and facilities that are pushing larger, faster-changing loads—especially where on-site storage and more sophisticated interconnection requirements are in play. Inverters built for utility and storage applications aren’t drop-in data center power trains, but they do sit in the same conversation as BESS-enabled power architectures and the growing need to manage how large loads interact with the grid.
Nextpower expects the transaction to enable a scale-up of inverter manufacturing capacity in the US, with a production ramp expected to begin in 2027. The company also plans to integrate the acquired assets into its operations, with the inverter business operating within its power electronics platform. Dan Shugar, founder and CEO of Nextpower, said, “We will be in market with products for solar, storage, and data centers, and building out U.S. manufacturing as quickly as is prudent.”
The acquisition is subject to foreign direct investment approval by the Spanish government and other customary closing conditions. Transaction consideration includes approximately $80.5 million in cash, consisting of $46 million at closing and up to $34.5 million in potential earnouts. Nextpower also plans an incremental investment of approximately $50 million tied to growth initiatives, including accelerating its entry into the power conversion market. Zigor will continue to operate its remaining business independently, separate from the assets being acquired.
Nextpower did not provide a closing date.
Source: Nextpower
