Flex拟44亿美元收购EPC Power，加码AI数据中心800V架构

Senior News Writer,Data Center Knowledge高级新闻撰稿人，Data Center Knowledge

September 4, 2026

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Flex will acquire EPC Power for $4.4 billion, adding 800V DC, grid-forming, and other power-conversion technologies to its data center infrastructure business, the companies said Friday. The deal is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other closing conditions. Flex said EPC Power will join its Cloud and Power Infrastructure segment, which Flex plans to spin off as an independent public company in the first quarter of 2027.两家公司周五表示，Flex 将以 $4.4 billion 收购 EPC Power，为其数据中心基础设施业务增添 800V DC、构网型及其他电力转换技术。该交易预计于 2026 年第四季度完成，尚需监管批准并满足其他交割条件。Flex 表示，EPC Power 将加入其 Cloud and Power Infrastructure 部门；Flex 计划于 2027 年第一季度将该部门分拆为独立上市公司。

EPC Power develops power-conversion systems for data centers, utility-scale energy storage, and microgrids, including grid-forming technology, digital rectifiers, and DC-DC converters, with a roadmap for solid-state transformers. Flex said EPC Power’s platform is designed to connect 800V DC loads more directly to grid voltages and can consolidate functions traditionally provided by UPS systems and AC power distribution. EPC Power said its 800V architecture is designed for next-generation AI data centers.EPC Power 为数据中心、公用事业级储能和微电网开发电力转换系统，包括构网型技术、数字整流器和 DC-DC 转换器，并制定了面向固态变压器的路线图。Flex 表示，EPC Power 的平台旨在将 800V DC 负载更直接地连接至电网电压，并可整合传统上由 UPS 系统和 AC 配电承担的功能。EPC Power 表示，其 800V 架构专为下一代 AI 数据中心而设计。

800V DC: Raising Rack Power While Cutting Losses800V DC：在降低损耗的同时提升机架功率

For data center operators, 800V DC could change how power is delivered in high-density AI facilities. Higher voltage allows more power to move at lower current, reducing conductor requirements and electrical losses. It can also reduce some of the conversion equipment between the grid and the rack.对数据中心运营商而言，800V DC 可能改变高密度 AI 设施中的电力输送方式。更高电压能够以更低电流输送更多电力，降低导体需求和电气损耗，还可减少电网与机架之间的部分转换设备。

As rack power rises, the electrical systems serving those racks become a larger part of the facility design. EPC Power’s technology targets the power-conversion portion of those systems, rather than the computing equipment itself.随着机架功率不断提升，为这些机架供电的电气系统在设施设计中占据更大比重。EPC Power 的技术针对这些系统中的电力转换部分，而非计算设备本身。

Power Conversion Becomes a Strategic Layer电力转换成为战略层

Neil Osnato, founder of Persistence Analytics Group, said the $4.4 billion purchase signals that power conversion is becoming a more strategic part of AI infrastructure.Persistence Analytics Group 创始人 Neil Osnato 表示，这笔 $4.4 billion 的收购表明，电力转换正成为 AI 基础设施中更具战略意义的组成部分。

“The $4.4 billion price itself is a signal that power conversion is moving from a supporting component to a strategic control point in AI infrastructure,” Osnato said.“$4.4 billion 的价格本身就是一个信号，表明电力转换正从配套组件转变为 AI 基础设施中的战略控制点，”Osnato 说。

He said higher rack and campus power densities make the way electricity is converted between the grid, on-site generation, storage, and computing loads more important.他说，更高的机架和园区功率密度，使得电力在电网、现场发电、储能和计算负载之间的转换方式变得更加重要。

“AI infrastructure is becoming as much a power-systems problem as a compute problem,” Osnato said.“AI 基础设施既是计算问题，也同样是电力系统问题，”Osnato 说。

Power Electronics Change the Grid Interface电力电子技术改变电网接口

EPC Power’s technology also targets rapid changes in power demand associated with AI workloads. Its Agile Grid-Forming platform is designed to respond to changes in milliseconds. The company said its systems can integrate energy storage and on-site generation while supporting grid connections and microgrid applications.EPC Power 的技术还针对与 AI 工作负载相关的电力需求快速变化。其 Agile Grid-Forming 平台旨在以毫秒级响应变化。该公司表示，其系统可整合储能与现场发电，同时支持电网连接和微电网应用。

Osnato said those capabilities can give a facility greater control over how its electrical loads appear to the grid. Power electronics and storage can smooth rapid changes in demand, he said, while converters can help manage the electrical behavior seen at the grid interface. But he cautioned that the capabilities should not be treated as a substitute for addressing the underlying requirements of a large load.Osnato表示，这些能力可让设施更好地控制其电力负荷在电网侧呈现的特性。他说，电力电子设备与储能可以平抑需求的快速变化，而变流器可帮助管理电网接口处的电气行为。但他告诫，不应把这些能力当作满足大型负荷底层要求的替代方案。

“Load smoothing is not load elimination,” Osnato said.“负荷平滑不等于消除负荷，”Osnato说。

For utilities evaluating large AI facilities, Osnato said the relevant information goes beyond a site’s stated maximum demand. Utilities should consider ramp characteristics, power-electronic controls, storage capability, on-site generation, ride-through behavior, grid-forming and grid-following modes, harmonics, and fault behavior. He added that utilities must verify claimed capabilities during interconnection. “Declared capability is not demonstrated capability,” Osnato said.对于正在评估大型AI设施的公用事业公司，Osnato表示，相关信息不止于场地申报的最大需量。公用事业公司应考虑爬坡特性电力电子控制、储能能力、现场发电、穿越行为、构网与跟网模式、谐波以及故障行为。他补充说，公用事业公司必须在并网期间核验所申报的能力。“申报的能力不等于已证明的能力，”Osnato说。

For example, if a developer says a large campus can smooth its load, ride through disturbances, or provide grid support, utilities need evidence showing what the capability is, under what conditions it works, how long it lasts, and what changes would require it to be revalidated, he noted.他指出，例如，如果开发商称一个大型园区能够平滑负荷、穿越扰动或提供电网支撑，公用事业公司就需要证据说明该能力是什么、在何种条件下有效、可持续多久，以及哪些变化会要求对其重新验证。

EPC Scales US Manufacturing to 27-40 GWEPC将美国制造产能提升至27-40 GW

The acquisition follows EPC Power’s expansion of its US manufacturing footprint. In July, the company opened a 167,000-square-foot manufacturing facility in Fountain Inn, South Carolina. EPC Power said the facility nearly tripled its production capacity, with 27 GW of annual capacity initially and the ability to scale to 40 GW. The facility produces M and MRACK series power inverters for grid, storage, and AI data center applications and is expected to create about 275 jobs.此次收购是在EPC Power扩大其美国制造布局之后进行的。7月，该公司在南卡罗来纳州Fountain Inn启用了一座占地167,000平方英尺的制造工厂。EPC Power表示，该工厂使其产能几乎增至三倍，初始年产能为27 GW，并具备扩至40 GW的能力。该工厂生产用于电网、储能和AI数据中心应用的M和MRACK系列电力逆变器，预计将创造约275个就业岗位。

EPC Power said its annual US manufacturing capacity is expected to exceed 30 GW in 2027.EPC Power表示，预计其2027年美国年制造产能将超过30 GW。

Deal Sets Up Q1 2027 Spin-Off Plan该交易确立2027年第一季度分拆计划

Flex said EPC Power is expected to generate about $800 million in revenue during calendar 2026. Flex also said it expects organic revenue growth of about 40% in 2027 and an EBITDA margin of approximately 30%. The acquisition will be financed through a combination of debt and equity.Flex表示，EPC Power预计在2026日历年实现约8亿美元收入。Flex还表示，预计2027年有机收入增长约40%，EBITDA利润率约为30%。此次收购将通过债务与股权相结合的方式融资。

Goldman Sachs Alternatives and Cleanhill Partners acquired a majority stake in EPC Power in 2022, following an initial investment in 2021.Goldman Sachs Alternatives与Cleanhill Partners在2021年进行初始投资后，于2022年收购了EPC Power的多数股权。

About the Author关于作者

Senior News Writer, Data Center KnowledgeData Center Knowledge资深新闻作者

Shane Snider is Senior News Writer at Data Center Knowledge, covering AI infrastructure, hyperscale data centers, cloud platforms, and the power and energy systems driving modern compute expansion. His reporting focuses on the operational, economic, and environmental forces reshaping digital infrastructure, including AI factories, utility constraints, liquid cooling, renewable energy procurement, and next-generation data center architectures. He has won recent Azbee awards for news series and government reporting. Based in Raleigh, North Carolina, Snider covers how hyperscalers, utilities, chipmakers, and infrastructure providers are responding to the rapid rise of AI workloads and global compute demand.Shane Snider是Data Center Knowledge的资深新闻作者，负责报道AI基础设施、超大规模数据中心、云平台以及推动现代算力扩张的电力与能源系统。他的报道聚焦正在重塑数字基础设施的运营、经济与环境因素，包括AI工厂、公用事业约束、液冷、可再生能源采购以及下一代数据中心架构。他近期凭借新闻系列报道和政府报道荣获Azbee奖。Snider常驻北卡罗来纳州罗利，报道超大规模云服务商、公用事业公司、芯片制造商和基础设施供应商如何应对AI工作负载与全球算力需求的快速崛起。

You can reach Shane at [email protected] or on LinkedIn.您可以通过 [email protected] 或在 LinkedIn 上联系 Shane。