EIFS (Exterior Insulation Finishing System) started in Europe and was brought to the United States as an alternative to concrete plaster stucco. It utilizes a lightweight acrylic plaster over mechanically fastened foam panels. As most exterior finishing systems, it has gone through a series of transitions and continues to do so. Anyone interested in using this product or a variation of this product should talk to an expert in their area to design the proper installation techniques.
Here's some examples of EIFS we've used in our designs.