Borqs’ Subsidiary, Holu Hou Energy (HHE), Launches Next-Generation HoluPower xP Energy Storage System
November 04 2022 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G wireless, Internet of Things (IoT)
solutions, and innovative clean energy, today announced its
subsidiary, Holu Hou Energy (HHE), has rolled out its next
generation HoluPower xP energy storage system.
The HoluPower xP building on the leading
attributes of the HoluPower series product, specifically
delivers:
- A much
safer lithium ion battery chemistry, having greater inherent
resiliency against overtemperature and overcharging than some major
brands that use less stable, more flammable and higher toxicity
chemistries.
- More
system power - enough power to enable homes to operate their
appliances during an outage the same way they would if they had
utility power.
- Greater
system modularity – each system can support four strings of PV and
up to four 8.2kWh battery modules. Multiple systems can be
connected together in a sharing link for even greater
capacity.
- Higher
power for each battery module, a very important attribute for
locations where battery subsidies and bonus programs exist.
- Energy
control through the HHE Modular Energy Control platform.
-
Integrated home load control so both renewable energy supply and
load/usage can be scheduled or optimized real time with one
another.
- Standard
wired internet connection, with optional WiFi or cellular
communications.
- Better
system conversion efficiency compared to “AC Battery” systems, like
those from Tesla.
- Faster
installation times with an almost 50% reduction in wiring
terminations.
- The
industry’s only single-family Residential energy storage system
economically viable for unlocking the Multi-Dwelling Unit
Residential market.
Holu Hou Energy made history in the renewable
energy systems market with the 2nd Generation HoluPower-series
energy storage for its solar system. The product is the first
system capable of economically addressing the Multi-Dwelling Unit
Residential market through EnergyShare, a unique application and
advantage, enabling networked systems to share excess generation
behind their respective utility meters. This has been a
game-changer for improving the project economics for the MDU
market, including for low-income housing, rental property units and
Home Owners Association managed properties. EnergyShare enables
more energy to be delivered to load, and fewer batteries needing to
be installed than the standard approach of unit-by-unit
installation.
Holu Hou Energy continues to deliver innovative
capabilities that enable customers to achieve a higher level of
energy independence. HHE is a uniquely positioned leader in the
Hawaiian market and is now entering California and the virtually
untapped market in the United States.
According to a recent research report by
BloombergNEF (BNEF), the global energy storage installations are
projected to reach a cumulative 411 gigawatts (or 1,194
gigawatt-hours) by the end of 2030, 15 times the 27GW/56GWh of
storage that was online at the end of 2021. The anticipated
accelerated growth of the US market follows the passage of the
Inflation Reduction Act in August 2022. Besides the United States,
other largest power markets in the world such as the EU, China and
India have all passed legislation that incentivizes energy storage
deployments.
Ref.
link:https://about.bnef.com/blog/global-energy-storage-market-to-grow-15-fold-by-2030/
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.
To view a video clip of a recently completed HHE
Multi-Unit Residential project go to:
https://www.youtube.com/watch?v=kakbynGM-fQ
Forward-Looking Statements and
Additional InformationThis press release includes
“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 relate to future events or future results, 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, 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.IR@borqs.com www.borqs.com
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