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

SANTA CLARA, Calif., July 01, 2022 (GLOBE NEWSWIRE) -- 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.