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Why Borqs Technologies Shares Are Gaining Today

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  • 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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