TOKYO, May 11, 2026 /PRNewswire/ — PowerX, Inc. (headquarters: Tamano City, Okayama Prefecture; Director, President and CEO: Masahiro Ito; Securities Code: 485A) signed a Memorandum of Understanding on May 7 with Elektroprivreda Crne Gore AD Nikšić (EPCG), the national electric utility of Montenegro, regarding strategic cooperation on battery energy storage systems (BESS).
The MoU sets an indicative target of approximately 500 MWh of BESS capacity over an initial three-year period to support the large-scale integration of renewable energy and strengthen grid stability in Montenegro.
Montenegro adopted its National Energy and Climate Plan in December 2025, setting targets for 2030 that include a minimum share of 50% of renewable energy in gross final energy consumption. EPCG, the country’s largest electricity producer, has identified BESS as a key part of its efforts to modernize the grid and integrate renewable energy.
Under the MoU, the parties will collaborate to identify optimal BESS deployment plans to support network reliability, peak shaving and frequency regulation, with comprehensive after-sales support. PowerX will also explore the possibility of creating local BESS assembly capabilities in Montenegro.
Montenegro’s EU candidate status, combined with its electricity interconnection with Italy, makes the country a strategically important market for clean energy infrastructure in Europe. PowerX aims to leverage this cooperation as a basis for expanding its BESS activities in the European market.
“Battery energy storage systems are becoming an essential part of modern energy infrastructure, enabling greater integration of renewable energy while supporting grid stability, flexibility and resilience,” said Masahiro Ito, CEO of PowerX. “As the leading BESS provider in Japan, PowerX is pleased to partner with EPCG to support Montenegro’s energy transition and modernization of its power system. Through this strategic cooperation, we aim to not only deploy advanced battery storage solutions, but also build a long-term foundation for PowerX’s activities in Montenegro and the wider region, including the development of local battery system assembly capabilities.
“This partnership represents an important step in the modernization of our electricity system and once again confirms EPCG’s commitment to an energy transition based on innovation and sustainability,” said Zdravko Dragaš, CEO of EPCG. “Cooperation with PowerX gives us access to advanced energy storage technologies, essential for the stable integration of renewable energy sources and the long-term energy security of Montenegro.”
About PowerX, Inc.
PowerX is a Japanese energy storage company listed on the Growth Market of the Tokyo Stock Exchange. Headquartered in Tamano City, Okayama Prefecture, with offices and an R&D center in Tokyo, PowerX’s core business covers the development and manufacturing of battery energy storage systems (BESS), scalable modular data centers and electric vehicle charging systems with buffer battery, as well as the development and operation of grid-scale battery farms. To date, its BESS has been selected for 153 project sites in Japan, with an adopted cumulative capacity of 2.8 GWh.
For more information, visit https://power-x.jp/
About Elektroprivreda Crne Gore (EPCG)
Elektroprivreda Crne Gore AD Nikšić (EPCG) is the national electricity utility of Montenegro, responsible for the generation, transmission, distribution and supply of the majority of the country’s electrical energy. With approximately 874 MW of installed capacity, including large hydroelectric plants, a key thermal power plant and a growing portfolio of wind and solar projects, the EPCG plays a central role in Montenegro’s energy transition.
For more information, visit https://www.epcg.com/
Media Contact:
PowerX, Inc. — Corporate Communications
E-mail: pr@power-x.jp
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Disclosure: This press release contains forward-looking statements. Actual results may differ from those projected. The details described in this press release are based on a memorandum of understanding and do not constitute a definitive supply contract. Specific project schedules, procurement volumes, investment amounts and definitive agreements remain subject to further discussions between the parties and are subject to change. PowerX will make timely disclosures in accordance with Tokyo Stock Exchange rules as material matters are resolved. |
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SOURCE PowerX, Inc.
