PowerX Receives Grid-Scale BESS Order with ITOCHU for Battery Farm Funded by Tokyu Land and IBeeT

TOKYO, JAPAN --- PowerX, Inc. (Head Office: Tamano City, Okayama Prefecture; Director, President and CEO: Masahiro Ito; Securities Code: 485A), jointly with ITOCHU Corporation (Head Office: Minato City, Tokyo; President & COO: Keita Ishii), has received an order for 30 units of its grid-scale battery energy storage systems (BESS), with a total capacity of 75.2 MWh. The systems are for Miyagi Shiroishi Battery Farm LLC, funded by Tokyu Land Corporation (Head Office: Shibuya City, Tokyo; President & CEO: Tatsuaki Tanaka) and IBeeT Corporation (Head Office: Chiyoda City, Tokyo; President: Yoichi Murakami).

The new extra-high voltage "Miyagi Shiroishi Battery Farm" (Shiroishi City, Miyagi Prefecture) is scheduled to commence operation within FY 2028. By connecting to the power grid in the Tohoku area for charging and discharging, it will contribute to stabilizing the power supply-demand balance and support the further expansion of renewable energy in the region.

The battery farm will use the "Mega Power 2500," a 10-foot container-sized BESS supplied as part of "PowerX × Bluestorage," a co-branded package jointly offered by PowerX and ITOCHU.

This project has been selected to receive a subsidy from the Ministry of Economy, Trade and Industry (METI) under the "FY 2025 Subsidy Program for Supporting the Introduction of Energy Storage Systems to Promote the Adoption of Renewable Energy."

As a leading domestic manufacturer of battery energy storage systems, PowerX will continue to expand Japan's battery storage infrastructure through its ongoing collaboration with ITOCHU.

Details of this order are as follows:

1. Product Ordered

A total of 30 units of PowerX's "Mega Power 2500" Grid-Scale BESS
(Supplied as the co-branded BESS package "PowerX × Bluestorage")

2. About the Battery Farm Deploying PowerX's Systems

• Site Name: "Miyagi Shiroishi Battery Farm"

• Location: Shiroishi City, Miyagi Prefecture

• Number of Battery Containers: 30 units

• Total Storage Capacity: 75.2 MWh (equivalent to the daily electricity consumption of approximately 7,000 average Japanese households)

• PCS Output: 23 MW

• Commercial Operation Start Date: Within FY 2028 (scheduled)

• Business Entity: Miyagi Shiroishi Battery Farm LLC (Investors: Tokyu Land Corporation, IBeeT Corporation)

3. About the "Mega Power 2500" Grid-Scale BESS

• Size: 10-foot container (ISO standard)

• Battery Type: Lithium Iron Phosphate (LFP)

• Nominal Capacity: 2,507 kWh (per unit)

• Place of Production: Tamano City, Okayama Prefecture, Japan

^{*Note: Revenue from this project is included in the firm orders expected to be recognized as revenue in FY2027, as presented in the financial results briefing materials disclosed on August 13, 2026. Please also note that press releases are issued once agreement on public announcement has been reached with the customer, and their timing does not necessarily coincide with the necessity or timing of timely disclosure requirements.}

^{This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.}