January 24, 2018 / 5:29 PM / 7 months ago

Engie buys majority in hydrogen-based storage specialist EPS​

PARIS (Reuters) - French gas and power group Engie (ENGIE.PA) said in a statement it had agreed to acquire a majority stake in French hydrogen-based power storage firm Electro Power Systems (EPS) (EPS.PA).

Engie gave no financial details but said it had bought just over 50 percent of the capital of EPS, which has a market capitalization of 96 million euros.

EPS, listed on Euronext, sells hydrogen-based systems for energy storage with capacities up to hundreds of megawatthours.

Engie CEO Isabelle Kocher has made hydrogen one of the core technologies in a planned switch to fully renewable gas by 2050.

Reporting by Geert De Clercq, editing by David Evans

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