The present system is a waterborne coating composition comprising a low VOC (<50 g/l) acrylic epoxy coating which is capable of high build coating formation (>12 mils) without foaming. The coating composition may be made, stored and transported as a two-part composition, where each part is a pourable liquid. The waterborne acrylic epoxy composition cures under ambient condition to give tenacious adhesion to a variety substrates. The coating system, described herein, is designed as an ambient cure system, but may also be cured at elevated temperatures. The two component emulsion composition is useful for coating applications. One component is an emulsion comprised of a blend of a hydroxy functional acrylic polymer co-reactant, suitable additives, pigments and epoxy resin The second component is a waterborne amine hardener for curing or crosslinking the first component.