Dryvit, Sto, both are manufactures of EIFS which is what your referring to.
Yes you can paint EIFS, but you need to use a elastomeric breathable paint. The key is both elastomeric (stretchy) paint that breaths. Ideally you should purchase the paint from the manufacture if at all possible.
You want elastomeric so it moves with the surface of the system. You want the breathable part as EIFS systems are designed to allow for moisture to move out of the lamina.
I have seen many EIFS homes destroyed by painting contractors who used the wrong type of paint.
Also be sure that you do not paint the walls with dark colors. The heat build up within the lamina will cause the EPS board, (foam) to warp and cause failure of the wall system.
Be sure to carefully clean, and seal all openings on the wall prior to painting as well.
If you have any special concerns about your wall system, please do not hesitate to contact me directly on this product.
@Woodbridge Environmental Tiptophouse.com do you recommend power washing dryvit before painting?
To add a bit of info about Dryit and Sto,
Sto was created as a solution to all the war damaged buildings after WW ll. It was a low cost method of fixing the bombed out buildings as the foam easily could bridge the large holes that resulted in the bombing and gun bullets. One of the company founders wanted to bring this product to the US in the early 70's But under the condition that it was not called Sto, So the name Dryvit came to be as the first US EIFS product. After about a 20 year stint the Sto company came into the US, but by then Dryvit had already received a large market share and the name Dryvit became the common name everyone called EIFS. Much like the Kleenex brand facial tissue. Everyone calls it Kleenex instead of tissue.
The two coats of elastomeric paint needs to be rolled on.
It is best to first caulk all openings with a polyurethane caulking like NP1.
The paint will bridge small cracks, others must be filled first.
This process will water proof the stucco and not allow cracks to appear.
It's an excellent system.