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PowerX and EPCG Collaboration in Montenegro

In a significant development in the energy sector, PowerX, Inc., based in Tamano, Okayama, has formally signed a Memorandum of Understanding (MOU) with Elektroprivreda Crne Gore AD Nikšić (EPCG), the national electric utility of Montenegro. This agreement, finalized on May 7, 2026, aims to foster strategic cooperation in the realm of Battery Energy Storage Systems (BESS).

Objective of the Partnership

The MOU sets an ambitious target to develop around 500 MWh of BESS capacity over an initial period of three years. This initiative is geared towards supporting the large-scale integration of renewable energy sources and enhancing the stability of the national grid in Montenegro. Understanding the critical need for a balanced energy portfolio, both companies are recognizing the role of advanced storage solutions in achieving these goals.

Montenegro has adopted its national energy and climate plan in December 2025, which outlines goals for 2030, aiming for a minimum of 50% of renewable energy in gross final energy consumption. Within this context, EPCG, being the largest electricity producer in the country, has earmarked BESS as a vital component in efforts to modernize the grid and embrace renewable energy technologies.

Collaboration Details

Under the umbrella of the MOU, PowerX and EPCG will work collaboratively to identify optimal deployment strategies for BESS. Their joint objectives will focus on ensuring grid reliability, peak demand reduction, and frequency regulation, supplemented by comprehensive after-sales support. Furthermore, PowerX is evaluating the potential for establishing local BESS assembly capabilities in Montenegro, which would bolster the local economy and energy sector.

Montenegro's status as an EU candidate, in conjunction with its interconnection with Italy's energy grid, positions the country as a strategically important market for clean energy infrastructure in Europe. PowerX is keen to leverage this partnership to expand its BESS business across European markets, fueling the transition towards sustainable energy.

Leadership Statements

Masahiro Ito, CEO of PowerX, stated, “Battery energy storage systems are becoming a vital part of modern energy infrastructure. They allow for greater integration of renewable energy while supporting stability, flexibility, and resilience in the grid. As a leading BESS provider in Japan, PowerX is excited to partner with EPCG to aid Montenegro's energy transition and modernize its electricity system. Through this strategic cooperation, we aim not just to deploy state-of-the-art battery storage solutions but also to lay the foundation for PowerX's long-term activities in Montenegro and the broader region, including the development of local assembly of battery systems.”

In response, Zdravko Dragaš, CEO of EPCG, remarked, “This partnership marks a significant milestone in the modernization of our electricity system and reaffirms EPCG's commitment to an energy transition based on innovation and sustainability. The cooperation with PowerX grants us access to advanced energy storage technologies, crucial for the stable integration of renewable energy sources and the long-term energy security of Montenegro.”

About PowerX, Inc.

PowerX is a publicly listed Japanese energy storage company on the Growth Market of the Tokyo Stock Exchange. Its headquarters are situated in Tamano, Okayama Prefecture, with additional offices and R&D facilities in Tokyo. The company's core activities encompass the development and manufacture of Battery Energy Storage Systems (BESS), scalable modular data centers, battery electric vehicle charging systems, and the development and operation of grid-scale battery farms. To date, PowerX's BESS systems have been selected for 153 project sites throughout Japan, boasting a cumulative adopted capacity of 2.8 GWh.

For further information, visit PowerX's Website.

About EPCG

Elektroprivreda Crne Gore (EPCG) is Montenegro's national electric utility, responsible for the generation, transmission, distribution, and supply of the majority of the country's electricity. With an installed capacity of approximately 874 MW, which includes significant hydroelectric plants and a key thermal power plant, along with an expanding portfolio of wind and solar projects, EPCG plays a pivotal role in Montenegro's energy transition. More details can be found on EPCG's Website.