Electro Power Systems completes its acquisition of Elvi Energy

EPS acquires 100% of Elvi Energy and 30% of MCM Energy lab – an R&D laboratory in which the Politecnico di Milano University is a shareholder – for EUR 2.4 million. EPS could also increase the participation in MCM up to 100% in early 2016 through a transaction which contemplates the reinvestment of the MCM’s shareholders up to 76% of the proceeds. This strategic association of EPS and Elvi Energy will result in a fully integrated energy storage group under a new joint brand, “Electro Power System Group”. Elvi Energy specialises in the development of software and manufacturing of inverters, power converters, and controllers to integrate different power generation and battery technologies (Li-ion, Pb, NaNiCl, LiFePO and SoNick) into sophisticated grid and microgrid systems.