ENGIE has signed agreement for the control of Electro Power Systems, a pioneer in hybrid storage solutions

Electro Power Systems S.A. ("EPS"), technology pioneer in energy storage systems and microgrids, has announced that ENGIE has signed a share purchase agreement with its main shareholders, to acquire a majority stake of EPS slightly above 50% of the share capital and voting rights. With this transaction both parties envision to be at the forefront of the energy transition.

 “EPS is a recognized technology provider in the micro-grid market with a differentiating control technology and already significant micro-grid installed base, in particular in Africa and Asia Pacific. We sincerely welcome EPS at ENGIE and its highly specialized and sophisticated high-tech teams. Together, we will achieve a major step to become a decentralized energy leader and confirm that energy transition is at the core of the strategy and transformation of ENGIE. With decentralized clean energy, we also bring a key contribution towards more harmonious development.” said Shankar Krishnamoorthy, Executive Vice President of ENGIE.

 Carlalberto Guglielminotti, Chief Executive Officer and General Manager of EPS commented “This is a transformational step for EPS. We share Engie’s strategic vision of a paradigm shift in the energy system towards decentralized energy solutions: in advanced economies renewables are displacing conventional centralized power plants, calling for distributed energy storage to secure flexibility and capacity; thus, value added migrates from traditional energy supply to the delivery of advanced services. In parallel, in emerging economies, storage-enabled renewables open a market of 2.4 billion people reliant on diesel generation. EPS has been delivering one of the largest installed bases of commercial microgrids and utility-scale systems globally; today, our unique technological platform combined with Engie’s global reach, establishes a driving force of the energy transition.”