Battery manufacturer Powin has filed for Chapter 11 bankruptcy, citing more than $300 million in debt. The Oregon-based firm, which produces grid-scale batteries using lithium-iron-phosphate (LFP) cells from China, is allowed to continue operations during restructuring. The company has faced supply chain challenges and significant workforce reductions from nearly 250 employees to just 85. Former CEO Jeff Waters emphasized difficulties in finding alternative domestic suppliers. Powin had previously thrived in the grid-scale battery market, despite recent struggles linked to tariffs and external financial pressures.
Powin, a battery manufacturer, has filed for Chapter 11 bankruptcy due to over $300 million in debt, while continuing operations to restructure.
The company, which faced supply chain challenges and extensive layoffs, aims to address its financial issues amid a booming grid-scale battery market.
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