Memorandum of Understanding Signed with EPCG, Montenegro's State-Owned Power Company, for Strategic Cooperation on Battery Energy Storage Systems
PowerX, Inc. has signed a Memorandum of Understanding (MOU) with Elektroprivreda Crne Gore AD Nikšić (EPCG), Montenegro's state-owned power company, for strategic cooperation on Battery Energy Storage Systems (BESS). This collaboration aims to support the large-scale introduction of renewable energy and enhance grid stability in Montenegro, targeting the supply of approximately 500 MWh of storage capacity over three years.
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- 📰 Published: May 8, 2026 at 05:00
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PowerX, Inc. (Headquarters: Tamano City, Okayama Prefecture; Representative Director, President and CEO: Masahiro Ito; Securities Code: 485A) announced today that it has signed a Memorandum of Understanding (MOU) with Elektroprivreda Crne Gore AD Nikšić (hereinafter "EPCG"), Montenegro's state-owned power company, regarding Battery Energy Storage Systems (BESS).
This MOU aims to supply approximately 500 MWh of battery storage capacity over three years to support the large-scale introduction of renewable energy and enhance grid stability in Montenegro.
Montenegro, located in the Balkan Peninsula, adopted its "National Energy and Climate Plan" in December 2025, setting a target to achieve over 50% renewable energy in its final energy consumption by 2030. EPCG, the country's largest power company, is committed to modernizing its power grid and integrating renewable energy, with BESS at its core.
Based on this MOU, both companies will jointly develop a BESS deployment plan to improve grid reliability, support peak shaving (load leveling), and frequency regulation. PowerX will also provide consistent after-sales service following deployment. Furthermore, the companies will explore the possibility of establishing a BESS assembly facility in Montenegro.
As a candidate country for EU membership and possessing an undersea interconnector with Italy, Montenegro can become an important hub in the European clean energy infrastructure market. PowerX aims to expand its BESS business into Europe based on this cooperation.
Masahiro Ito, Representative Director, President and CEO of PowerX, stated:
"Battery Energy Storage Systems (BESS) are becoming an indispensable part of modern energy infrastructure, supporting the expansion of renewable energy adoption while ensuring the stability, flexibility, and resilience of power grids. As a leading BESS provider in Japan, we are delighted to contribute to Montenegro's energy transition and the modernization of its power system through our partnership with EPCG. Through this cooperation, we aim not only to deploy advanced storage solutions but also to consider the development of a local BESS assembly facility, thereby building a long-term business foundation in Montenegro and the surrounding region."
Zdravko Dragaš, CEO of EPCG, stated:
"This partnership is a significant step towards modernizing our power system and reaffirms EPCG's commitment to energy transition centered on innovation and sustainability. Cooperation with PowerX will provide access to advanced storage technologies essential for stable integration of renewable energy and Montenegro's long-term energy security."
About EPCG
Elektroprivreda Crne Gore AD Nikšić (EPCG) is Montenegro's state-owned power company, responsible for most of the country's electricity generation, transmission, distribution, and supply. In addition to large-scale hydropower plants and major thermal power plants, it is expanding wind and solar power generation, with a total installed capacity of approximately 874 MW. EPCG plays a central role in Montenegro's energy transition.
For more details, please visit https://www.epcg.com/.
This press release contains forward-looking statements, and actual results may differ from forecasts. The content is based on an MOU and does not constitute a definitive supply agreement. Specific project schedules, supply volumes, investment amounts, and final agreements will be determined through future discussions between the two companies and are subject to change. The company will make timely disclosures in accordance with the rules of the Tokyo Stock Exchange when making decisions on important matters.
Reference Information
About our overseas expansion strategy About Montenegro
Keywords:
This MOU aims to supply approximately 500 MWh of battery storage capacity over three years to support the large-scale introduction of renewable energy and enhance grid stability in Montenegro.
Montenegro, located in the Balkan Peninsula, adopted its "National Energy and Climate Plan" in December 2025, setting a target to achieve over 50% renewable energy in its final energy consumption by 2030. EPCG, the country's largest power company, is committed to modernizing its power grid and integrating renewable energy, with BESS at its core.
Based on this MOU, both companies will jointly develop a BESS deployment plan to improve grid reliability, support peak shaving (load leveling), and frequency regulation. PowerX will also provide consistent after-sales service following deployment. Furthermore, the companies will explore the possibility of establishing a BESS assembly facility in Montenegro.
As a candidate country for EU membership and possessing an undersea interconnector with Italy, Montenegro can become an important hub in the European clean energy infrastructure market. PowerX aims to expand its BESS business into Europe based on this cooperation.
Masahiro Ito, Representative Director, President and CEO of PowerX, stated:
"Battery Energy Storage Systems (BESS) are becoming an indispensable part of modern energy infrastructure, supporting the expansion of renewable energy adoption while ensuring the stability, flexibility, and resilience of power grids. As a leading BESS provider in Japan, we are delighted to contribute to Montenegro's energy transition and the modernization of its power system through our partnership with EPCG. Through this cooperation, we aim not only to deploy advanced storage solutions but also to consider the development of a local BESS assembly facility, thereby building a long-term business foundation in Montenegro and the surrounding region."
Zdravko Dragaš, CEO of EPCG, stated:
"This partnership is a significant step towards modernizing our power system and reaffirms EPCG's commitment to energy transition centered on innovation and sustainability. Cooperation with PowerX will provide access to advanced storage technologies essential for stable integration of renewable energy and Montenegro's long-term energy security."
About EPCG
Elektroprivreda Crne Gore AD Nikšić (EPCG) is Montenegro's state-owned power company, responsible for most of the country's electricity generation, transmission, distribution, and supply. In addition to large-scale hydropower plants and major thermal power plants, it is expanding wind and solar power generation, with a total installed capacity of approximately 874 MW. EPCG plays a central role in Montenegro's energy transition.
For more details, please visit https://www.epcg.com/.
This press release contains forward-looking statements, and actual results may differ from forecasts. The content is based on an MOU and does not constitute a definitive supply agreement. Specific project schedules, supply volumes, investment amounts, and final agreements will be determined through future discussions between the two companies and are subject to change. The company will make timely disclosures in accordance with the rules of the Tokyo Stock Exchange when making decisions on important matters.
Reference Information
About our overseas expansion strategy About Montenegro
Keywords: