Case filing & court posture: Powin, LLC, a battery energy storage system integrator, filed chapter 11 on June 10, 2025 in the District of New Jersey. Dkt. 1 Judge Michael B. Kaplan presides (Case No. 25-16137).

Liquidity & financing path: The debtors obtained interim cash collateral authority on June 13, 2025. Dkt. 68 The debtors also secured DIP financing from AG Acquisition (Axar Capital) at Term SOFR + 10% (up to $27.5 million).

Restructuring outcome: The debtors pursued a liquidation strategy via asset sales and a plan of liquidation. Dkt. 942 Assets were sold to FlexGen Power Systems ($36M), Hitachi/EKS ($15M), and Mainfreight ($3M credit bid). The plan was confirmed on December 1, 2025. Dkt. 1165

Plan effective date & post-confirmation: The plan became effective on December 5, 2025. A Powin Liquidating Trust was established to administer remaining assets and claims.

Current status: The case remains active with the liquidating trust overseeing claims administration and asset disposition.