Borqs’s Subsidiary Holu Hou Energy Signed an Agreement for $20 Million to Bring Renewable Energy to Key Hawaiian Cultural and Sporting Facility
15 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 agreement with Honokea Villages to
deliver a major renewable energy generation and storage system to
Honokea’s planned ecological sports training and Hawaiian Cultural
facility in their “ahupua’a”, or local community. The development
will have Olympic calibre training facilities for surfing, sport
climbing, kayaking, beach volleyball, and more, and will serve as
tool to celebrate athletics in Hawaii.
The renewable energy system will feature over 3
MW of PV generation and over 4 MWh of energy storage, enough to
power 100% of the operations of the facility, and will be financed
under a 20-year power purchase agreement, or PPA. The system
provided by HHE will begin construction in 2023 and its value is
estimated at nearly $20M. This project is included in the $49.8
million of Q2 2022 signed contracts announced earlier this
month.
Honokea Villages was co-founded by Brian
Keaulana in 2011 to address the need for Hawaiian Surf Culture to
be incorporated into, what was at the time, the fledgling surf park
industry. Now 11 years later there are 100+ surf parks being
planned around the world with names like Kelly Slater and in places
as foreign as Switzerland. “Honokea aims to ensure Hawaiian Culture
is incorporated into every aspect of the planning of the family
destination: excellence in sports, sustainability, arts and
culture. It’s a place for the whole family that’s truly designed to
benefit our community in as many ways as possible especially on our
side of the island,” says Keaulana.
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
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