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.

See more from Benzinga

• Blizzard Entertainment Acquires This Boston-Based Studio For Undisclosed Terms

• Here's Why VerifyMe Shares Are Trading Higher Today

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.