Nextpower Completes Acquisition of Power Conversion Assets, Accelerates U.S. Manufacturing Ramp

Acquisition adds experienced power conversion team and modular solutions for utility-scale solar and energy storage applications

FREMONT, Calif.--(BUSINESS WIRE)--Nextpower™ (Nasdaq: NXT), a leading provider of clean power technology solutions, today announced the completion of its previously announced acquisition of complementary assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power. This acquisition expands Nextpower’s power technology platform, including UL-certified central inverters for utility-scale solar and energy storage projects in the United States and IEC certified products for Europe and rest of world. The acquisition adds proprietary inverter technology, established supply chain capabilities, and global engineering talent in the U.S. and Spain with hundreds of years of combined power conversion experience.

“Reliable power conversion is fundamental to modern energy infrastructure, and customers are looking for solutions designed for long-term reliability and serviceability at utility scale,” said Dan Shugar, founder and CEO of Nextpower. “We are excited to welcome this highly experienced team of experts and market-ready technology engineered for superior reliability and availability, core attributes in keeping with Nextpower’s proven track record of successful project execution and long-term performance optimization.”

Unlike conventional inverter architectures that often require specialized tools or factory repairs, Nextpower's modular platform was designed around field serviceability, helping owners restore systems more quickly and maximize uptime long-term. Nextpower’s utility-scale central inverters are now commercially available in the U.S. market with full UL certification.

“UL certification is an important step to bringing our power conversion solutions to customers in the U.S. at scale,” said Jacob Marshall, vice president and general manager, power conversion, Nextpower. “We designed our central inverter platform around the needs of utility-scale owners and EPCs with a modular architecture that simplifies maintenance, reduces downtime, and supports long-term performance. Field replaceable power modules using standard components and tools gives owners more flexibility and control over maintenance and repair throughout the life of the system.”

The Nextpower power conversion product portfolio offers central inverter solutions and modular configurations up to 5.2 MVA designed for utility-scale solar and energy storage applications, with communication exclusively via a hard-wired, cyber-secure site-level optical fiber network. The Company is accelerating its U.S. manufacturing buildout across multiple locations, with deliveries ramping in early 2027 and over 10 GW of capacity expected to be online within twelve months.

To learn more about Nextpower’s power conversion solutions, visit nextpower.com/products/power-conversion or email insidesales@nextpower.com.

About Nextpower

Nextpower™ (Nasdaq: NXT) innovates and delivers integrated technology solutions for modern energy infrastructure. Its solar and energy storage platforms help customers design, build, and operate utility-scale power plants and other critical power applications with faster project deployment, improved system performance, greater reliability, and long-term operational value. Building on more than a decade of energy technology and market leadership, Nextpower partners with customers worldwide to scale and accelerate the deployment of reliable firm power needed for a rapidly electrifying world. Learn more at www.nextpower.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding: the acquisition of assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power; the future demand for Zigor’s and Apex’s products and technologies, including its proprietary inverter technology; the benefits of the Apex inverter system UL certification; the benefits of Zigor’s and Apex’s supply chain capabilities and engineering talent, including its power conversion experience; the buildout of U.S. manufacturing; the reliability and serviceability of the acquired Zigor and Apex products; and the benefits of the transaction, including the benefits our customers may realize as a result of integrating Zigor’s and Apex’s acquired business and assets into Nextpower. These forward-looking statements are only predictions, are based on various assumptions and current expectations of Nextpower’s management and may differ materially from actual results due to a variety of factors including but not limited to: our strategies, mission, plans, objectives and goals; the ability of Nextpower to successfully integrate the acquired business, assets, operations, products and employees; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationships resulting from the completion of the transaction; the market demand for our products, solutions and services and our ability to deliver them to customers; the retention of key employees, customers or suppliers; projections regarding the U.S. and global demand for electricity and solar power; our competitiveness and global market share; macro-economic trends; growth opportunities and plans for future operations; and legislative, regulatory and economic developments, including changing business conditions in our industry or markets overall and the economy in general. Other risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.

Investor Relations Contact
Sarah Lee
investor@nextpower.com

Media Contact
Brandy Lee
media@nextpower.com