Ocean Power Grid Receives BESS Order for Kuribayashi's Grid-Scale Battery Storage Project

TOKYO, JAPAN --- Ocean Power Grid, Inc. (Head Office: Chuo City, Tokyo; President and CEO: Hideyuki Ohnishi), a consolidated subsidiary of PowerX, Inc., has received an order for a set of equipment centered on three units of the “Mega Power 2500” battery energy storage system (BESS), totaling 7.52 MWh in capacity, for a grid-scale battery storage project funded by Kuribayashi & Co., Ltd. (Head Office: Muroran City, Hokkaido; President: Kazunori Kuribayashi), a port transportation company.

PowerX, Inc. (Head Office: Tamano City, Okayama Prefecture; Director, President and CEO: Masahiro Ito; Securities Code: 485A) will manufacture the systems and operate the facility once it commences operation, supporting Kuribayashi’s entry into the battery storage business as a group.

The facility will be built in Hachinohe City, Aomori Prefecture, and is scheduled to commence operation in 2027. By connecting to the power grid in the Tohoku area for charging and discharging, it will help stabilize the power supply-demand balance and support the further expansion of renewable energy in the region.

Kuribayashi is a Hokkaido-based general trading company with port transportation at its core, alongside commercial and travel businesses. It decided to invest in the project in the belief that entering the battery storage business will contribute to regional decarbonization and enhance its corporate value. Ocean Power Grid, in addition to its marine power transmission business using battery tankers, is responsible within the PowerX Group for sales of BESS to ports and remote islands.

Through the operation of this facility, the three companies will promote the effective use of renewable energy in the Tohoku area and contribute to achieving carbon neutrality in Japan. PowerX and Ocean Power Grid will also continue to support port operators and other regional businesses in entering the battery storage business.

An overview of the project is as follows.

1. Order Details

A total of three units of PowerX’s “Mega Power 2500” grid-scale BESS
Related equipment, including PCS and power receiving and transforming facilities

2. Project Overview

• Location: Kushihiki, Hachinohe City, Aomori Prefecture

• Number of Battery Containers: 3 units

• Total Storage Capacity: 7.52 MWh (nominal; equivalent to the daily electricity consumption of approximately 700 average Japanese households)

• PCS Output: 1,998 kW

• Scheduled Commencement of Operation: October 2027

• Operator: Seven Power Storage GK (100% funded by Kuribayashi & Co., Ltd.)

• Equipment Sales: Ocean Power Grid, Inc.

• Facility Operation (Aggregation): PowerX, Inc.

3. About the Grid-Scale BESS “Mega Power 2500”

• Size: 10-foot container (ISO standard)

• Battery Type: Lithium Iron Phosphate (LFP)

• Storage Capacity: Nominal Capacity 2,507 kWh / Rated Capacity 2,256 kWh (per unit)

• Place of Production: Tamano City, Okayama Prefecture, Japan

^{* Revenue from this project is included in the firm orders for FY 2027 disclosed in the financial results presentation materials released on August 14, 2026. Press releases are issued once agreement on public announcement has been reached with the customer, and their timing does not necessarily coincide with whether or when timely disclosure is required.}

■ About Kuribayashi & Co., Ltd.

Kuribayashi & Co., Ltd. is a general trading company whose principal business is port transportation and which also operates commercial and travel businesses.

• Company Name: Kuribayashi & Co., Ltd.

• Founded: June 1, 1892 (Incorporated: March 29, 1919)

• Representative: Kazunori Kuribayashi, President

• Head Office: 1-19 Irie-cho, Muroran City, Hokkaido

• Business: Port transportation, warehousing, customs brokerage, commercial trading, insurance agency, and travel services

• Website: https://www.kurinet.co.jp/

■ About Ocean Power Grid, Inc.

Ocean Power Grid, Inc., a consolidated subsidiary of PowerX, aims to improve Japan’s energy self-sufficiency through its marine power transmission business using battery tankers, as well as the development of microgrids for remote islands and ports and of offshore data centers.

• Company Name: Ocean Power Grid, Inc.

• Established: February 9, 2024

• Representative: Hideyuki Ohnishi, President and CEO

• Head Office: TODA BUILDING 22F, 1-7-1 Kyobashi, Chuo City, Tokyo

• Business: Development and sale of battery tankers and marine power transmission; development of microgrids for remote islands and ports; data center businesses on remote islands and offshore

• Website: https://oceanpowergrid.jp/

■ About PowerX, Inc.

PowerX, Inc., under its mission “Think Sovereign Energy,” leads the domestic development and manufacturing of battery energy storage systems and contributes to the stability and harmony of countries and regions around the world through the development and operation of battery storage projects, electricity services, and EV charging stations.

• Company Name: PowerX, Inc.

• Established: March 22, 2021

• Representative: Masahiro Ito, Director, President and CEO

• Head Office: 6-9-1 Tai, Tamano City, Okayama Prefecture

• Business: Manufacturing and sales of grid-scale batteries; development and sales of mass-produced containerized data centers; supply of electricity including renewable energy; EV charging station services

• Website: https://power-x.jp/

^{This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.}