EIB grants a 30 million euros financing to EPS
- The European Investment Bank has signed a equity-linked financing up to EUR 30 million with Electro Power Systems
- The EIB financing is guaranteed under the European Fund for Strategic Investments, the heart of the Investment Plan for Europe, and will support the EPS growth, continuous research, development and innovation activities, and further product commercialization
Paris, 13 april 2017 – Electro Power Systems S.A. (“EPS”), technology pioneer in energy storage systems and microgrids listed on the French-regulated market Euronext Paris (EPS:FP), today announces the signature of a equity-linked financing up to €30 million with the European Investment Bank (“EIB”), backed by the European Fund for Strategic Investments (“EFSI”).
The EFSI-backed financing will support the company in its growth, continuous research, development and innovation (“RDI”) activities and further product commercialization, as EPS operates in the sustainable energy sector, specializing in hybrid-storage solutions and micro-grids that enable intermittent renewable sources to be transformed into a stable power source.