- Borqs Technologies, Inc’s (NASDAQ:BRQS) solar energy storage systems subsidiary, Holu Hou Energy LLC (HHE), collaborated with developers and property owners for nine solar plus energy storage projects in the State of Hawaii totaling $49.8 million, as of the last day of Q2, 2022.
- Eight of the nine projects were on the island of Oahu, and one was on Hawaii island.
- BRQS expects the implementation of these projects to start as early as Q3 of 2022 and be complete within 2023.
- 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.
- Pat Chan, Founder and CEO of Borqs, said: “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.”
- Price Action: BRQS shares traded higher by 14.38% at $1.91 on the last check Friday.
Dow Edges Higher; Darden Restaurants Earnings Top Views
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 60 points on Friday.
The Dow traded up 0.11% to 37,288.04 while the NASDAQ rose 0.45% to 14,827.63. The S&P 500 also rose, gaining, 0.06% to 4,722.55.
