Battery energy storage system integrator Powin has a new chief financial officer to help manage growth that is expected to push annual revenue into the billions.
The Tualatin-based company announced it promoted Ryan Gray to the post. Gray had served as interim CFO since September and immediately before that was senior vice president of finance and treasurer at Powin.
Gray is a familiar finance executive in the area: He was CFO at Planar, the Hillsboro display technology company, for nearly nine years until late 2021.
"With a distinguished career in finance, Ryan’s history of driving process improvement, team building, business partnering, strategy formulation, and delivering tangible results aligns seamlessly with Powin’s goals and values," Powin said in a news release.
Powin provides grid-scale battery energy storage systems around the world. Owned by private equity investors, the company in August named Jeff Waters CEO, succeeding Geoff Brown.
In a recent interview with the Business Journal, Waters said Powin figures to be "knocking on the door" of the world's five largest battery energy storage system integrators in the next year. While not revealing revenue figures, Waters described a project pipeline that suggests annual revenues could climb into the several-billion-dollar range in the next year or so.
Waters also said that while Powin's owners aren't committed to going public, "getting Powin IPO-ready" is an operating principle at the company.
Powin has about 400 employees globally, nearly 200 of them in the Portland metro. In addition to its headquarters in Tualatin, the company has an office in the Pearl District in Portland.
