Why Borqs Technologies Shares Are Gaining Today
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.
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