The FINANCIAL -- Euronext on April 22 welcomed Electro Power Systems, a company specialising in smart hydrogen-based systems for energy storage, to listing in Compartment C of Euronext’s regulated market in Paris.
Electro Power Systems was founded in 2005 in Italy, at Turin’s Universita Politecnico di Torino. Since 2007 it has developed hydrogen-based energy storage solutions to offer emergency power, backup systems and, more generally, auxiliary power supplies in the event of disruptions. In 2012, EPS presented ElectroSelf a self-recharging battery using hydrogren and designed for both residential and grid applications. This unique technology stores then frees the power of hydrogen for use as a clean and sustainable energy source, according to Euronext.
Electro Power Systems was listed through the admission to trading of 7,147,452 ordinary shares, including 1,941,177 new shares issued under a Global Offering, before exercice of the over-allotment option.
The admission price and issue price of Electro Power Systems was set at €7.30 per share. Market capitalisation on the day of listing was €52.2 million, and the operation raised a total of €14.2 million
Electro Power Systems CEO Carlalberto Guglielminotti, said: “The success of Electro Power Systems’ IPO on the regulated market of Euronext Paris praises our ambition to become a key player in the Energy Transition.This success demonstrates the confidence of investors in our growth prospects. Thanks to the backing of its shareholders and its unique positioning, EPS is in a strong position to pursue its development to unlock the Energy Transition with cost-effective and accessible storage solutions.”
Albert Ganyushin, Head of International Listings at Euronext added : “We are very pleased to welcome Electro Power Systems on Euronext, the leading stock exchange for high-growth innovative companies from across Europe. Electro Power Systems is a great addition to our market , and the company’s choice of listing venue highlights the attractions of Euronext’s international listing franchise to a broad range of technology companies including those in the Cleantech sector. The company listing and IPO demonstrate the advantages of using public markets as a source of financing for high growth innovative companies and venture capital investors. EnterNext, our subsidiary dedicated to promoting capital markets to SMEs, is focused on easing access to capital markets for these companies through a number of initiatives.”