PARIS and MILAN, April 13,
2017 /PRNewswire/ --
- The European Investment Bank has
signed an 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
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 an equity-linked
financing up to €30 million with the European Investment Bank
("EIB"), backed by the European Fund for Strategic
Investments ("EFSI ").
(Logo:
http://mma.prnewswire.com/media/468575/Electro_Power_Systems_Group_Logo.jpg
)
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.
In particular, investments in RDI will be devoted to:
- hybrid energy storage solutions to stabilize electrical grids
heavily penetrated by renewable sources in developed countries;
and
- off-grid power generation solutions in emerging economies, to
power off-grid areas at a lower cost than fossil fuels without the
need for any subsidy or incentive scheme.
Dario Scannapieco, EIB
Vice-president responsible for Italy and equity and equity-type products,
commented: "This loan to EPS Italy allows to the EIB to broaden
the range of financial instruments available to companies of any
size in order to support their investment plans. In details, with
this new quasi-equity financing for the first time applied in
Italy, the bank of the European
Union is able to take more risk for a more value added with
medium-size and small corporates in the energy
sector."
For full PR please visit
http://www.electropowersystems.com/all-press-releases/
For more information, visit
http://www.electropowersystems.com.