PowerX Signs MOU with Montenegro’s National Utility EPCG for Strategic Cooperation on Battery Energy Storage

TOKYO, JAPAN — PowerX, Inc.(Head Office: Tamano City, Okayama Prefecture; Director, President and CEO: Masahiro Ito; Securities Code: 485A) today signed a Memorandum of Understanding (MOU) with Elektroprivreda Crne Gore AD Nikšić (EPCG), Montenegro's national electricity utility, regarding the 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 2030 targets that include a minimum 50% share of renewable energy in gross final energy consumption. EPCG, the country's largest electricity producer, has identified BESS as a key component of its grid modernization and renewable energy integration efforts.

Under the MOU, the parties will collaborate together to identify optimal BESS deployment plans to support grid reliability, peak shaving, and frequency regulation, with comprehensive after-sales support. PowerX will also explore the potential establishment of local BESS assembly capabilities in Montenegro.

Montenegro's EU candidate status, coupled with its power interconnection with Italy, makes the country a strategically important market for clean energy infrastructure in Europe. PowerX aims to leverage this cooperation as a foundation for expanding its BESS business into the European market.

"Battery energy storage systems are becoming a core 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 Japan's leading BESS provider, PowerX is pleased to partner with EPCG to support Montenegro's energy transition and the modernization of its power system. Through this strategic cooperation, we aim not only to deploy advanced battery storage solutions, but also to 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 power system and further 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, which are 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 Tokyo Stock Exchange Growth Market. Headquartered in Tamano City, Okayama Prefecture, with offices and an R&D center in Tokyo, PowerX's core business spans the development and manufacture of battery energy storage systems (BESS), scalable modular data centers, and battery-buffered EV charging systems, 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 a cumulative adopted 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 Montenegro’s national electricity utility, responsible for generating, transmitting, distributing, and supplying the majority of the country’s electrical power. With around 874 MW of installed capacity—including major hydropower plants, a key thermal power facility, and an expanding portfolio of wind and solar projects—EPCG plays a central role in Montenegro’s energy transition.
For more information, visit https://www.epcg.com/

PowerX CEO Masahiro Ito paid a courtesy visit to H.E. Milojko Spajić, Prime Minister of Montenegro.