Borqs’ Solar Energy Storage Systems Subsidiary Holu Hou Energy has signed $49.8 million of Contracts in Q2 2022 in the State of Hawaii alone
01 Julho 2022 - 10:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G wireless solutions, Internet of Things
(IoT) solutions, and innovative clean energy, with global
operations in the U.S., India and China, today announced that its
majority owned solar energy storage systems subsidiary, Holu Hou
Energy LLC (“HHE”), has signed with developers and property owners
for nine solar plus energy storage projects in the State of Hawaii
totalling $49.8 million, as of the last day of Q2, 2022. Eight of
the nine projects are on the island of Oahu, and one on Hawaii
island. Implementation of these projects will start as early as Q3
of 2022 and be completed within 2023. All of these customers are
purchasing HHE unique energy storage systems, including its fully
differentiated solar plus storage system with Energy Share
technology for multi-dwelling unit residential applications. The
unique HHE’s Energy Share technology enables 25% more delivered
energy with 50% fewer batteries and fully opens the previously
untapped Multi-Dwelling Unit property market.
Proclaims Pat Chan, Founder and CEO of Borqs:
“With such solid results from our marketing efforts in Q2, we are
on track to sign onto over $140 million of contracts this year
surpassing our previous forecast of $128 million. This demonstrates
our ESG strategy can achieve a rather aggressive growth path. We
are truly thrilled that HHE’s uniqueness is increasingly recognized
by the renewable energy market. These recent signed contracts in Q2
testified for the customers’ awareness of the HHE advantages and
that we have a competitive edge over with many brands that are much
more well-known than us. This is the tip of the iceberg, I believe
the market will welcome our technological advances over the
competition when more and more prominent clients are entrusting HHE
with their energy storage needs. There is a lot more to come from
Hawaii in the coming quarters and we are excited about the
potentials in California as well.”
Click here to:See more of HHE's Breakthrough "Energy Share"
Technology for Multi-Dwelling Unit Properties
About Borqs Technologies,
Inc.Borqs Technologies is a global leader in software and
products for the IoT, providing customizable, differentiated and
scalable Android-based smart connected devices and cloud service
solutions. Borqs has achieved leadership and customer recognition
as an innovative end-to-end IoT solutions provider leveraging its
strategic chipset partner relationships as well as its broad
software and IP portfolio. Borqs’ unique strengths include its
Android and Android Wear Licenses which enabled the Company to
develop a software IP library covering chipset software, Android
enhancements, domain specific usage and system performance
optimization, suitable for large and low volume customized
products, and is also currently in development of 5G products for
phones and hotspots. The Company acquired controlling shares of the
solar energy storage system entity, Holu Hou Energy LLC, in October
2021.
About Holu Hou Energy, LLCHolu
Hou Energy, LLC, a Delaware Corporation, brings state-of-the-art
renewable energy and energy storage systems to the Single-Family
Residential, Multi-Dwelling Unit Residential and Commercial
building markets. With operations in California, Hawaii, Wisconsin
and Shanghai, HHE engineers proprietary storage system and control
platform solutions, including a breakthrough “HHE Energy Share”
technology that is key to development of the Multi-Dwelling Unit
Residential housing market. HHE is a vital partner for investors
and asset owners that are seeking ESG solutions. For more
information, visit www.holuhou.com
Forward-Looking Statements and
Additional InformationThis press release may include
“forward-looking statements” that involve risks and uncertainties
that could cause actual results to differ materially from what is
expected. Words such as “forecasts”, “expects”, “believes”,
“anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”,
“might”, “plan”, “possible”, “should”, “estimates” and variations
and similar words and expressions are intended to identify such
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Such forward-looking
statements are based on currently available information and reflect
our management’s current beliefs. Many factors could cause actual
events or results to differ materially from the events and results
discussed in the forward-looking statements may not truly describe
the financial conditions, including the possibility that the
positive financial results from business activities as described
herein may not be reached or at all, and the negative impact of the
COVID-19 pandemic on the Company’s supply chain, revenues and
overall results of operations, so the reader is advised to refer to
the Risk Factors sections of the Company’s filings with the
Securities and Exchange Commission for additional information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. Except as expressly required by applicable securities
law, the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Contact:Sandra DouVice President of
Corporate FinanceBorqs Technologies,
Inc.sandra.dou@borqs.netwww.borqs.com
Photos accompanying this announcement are available
at:
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