SolarMax Technology (SMXT), an integrated solar energy company operating in the United States and China, has announced its plans to raise $18 million through an initial public offering (IPO) on December 5th. The IPO will involve the issuance of 4,500,000 shares at a price of $4.00 per share, with a market cap of $178 million. SolarMax Technology's US operations involve the sale and installation of photovoltaic and battery backup systems, as well as LED systems and services. In China, the company identifies and procures solar farm projects for resale and provides engineering, procurement, and construction services. Despite a net loss of $2.2 million, SolarMax Technology generated $53.4 million in revenue in the last 12 months. With this IPO, SolarMax Technology aims to further expand its operations and contribute to the growth of the solar energy industry. [e65c68d6] [1ff768a8] [6e90adfc] [e2353abd]
Ambient Photonics, a California-based company, is showcasing its battery-free indoor solar cell technology at CES 2024. The company's low-light solar cell technology can convert any light source into a power supply for connected gadgets. Ambient Photonics will exhibit a range of real-world designs to demonstrate the potential of harnessing indoor light as a perpetual power source. The company has received early investments from Amazon's Climate Pledge Fund and prominent venture capital firms. It has developed a distinctive dye-sensitized solar cell (DSSC) that delivers up to three times more power in low-light conditions compared to other indoor solar solutions. Ambient Photonics will also debut its bifacial solar cell technology at CES 2024, capable of harvesting light energy from both the front and back sides of the solar cell simultaneously. Leading electronics manufacturers, including Universal Electronics, Chicony, and E Ink, have embraced Ambient Photonics' solar cells in their latest designs. The company started large-scale shipments of indoor low-light cells from its manufacturing facility in Scotts Valley, California, in the fall of 2023. It plans to establish a second U.S.-based smart manufacturing facility in 2025 to meet the growing demand for its technology. [84eeceea]
Maxeon Solar Technologies Ltd (MAXN) is ranked highly in the solar industry, with an overall rating of 42 and a score of 89 in the industry. MAXN stock is currently trading at $3.42, up 4.59% from the previous closing price. The stock has traded between $3.25 and $3.54. Volume today is below average, with 1,376,268 shares traded compared to the average volume of 2,202,841 shares. [c7f16de2]
Nexamp, a leading independent renewable energy provider and the nation’s largest community solar developer and owner, has raised $520 million in a capital raise led by Manulife Investment Management, alongside existing investors Diamond Generating Corporation and Generate Capital. The investment will be used to expedite deployment of Nexamp's national project pipeline, accelerate expansion and developer partnerships, and fuel the growth of its generation and consumer-driven offerings. The investment reflects the surge in demand for renewable power and the recognition of Nexamp's leading position in the community solar market. Nexamp currently serves nearly 80,000 customers and has over 1.5 gigawatts of generating and in-construction capacity. The company has several gigawatts of additional project capacity in development across over 20 markets. BofA Securities served as the exclusive placement agent to Nexamp. [c7ec9f1e]