Borqs solar energy storage business unit plans to take advantage of high fossil fuel price environment

SANTA CLARA, Calif., March 09, 2022 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs” or the “Company”) is a global provider of 5G wireless, Internet of Things (IoT) and innovative clean energy, with operations in the United States, India and China. Recently, the price of oil has reached well over $100 a barrel due to geopolitical tensions. Fossil energy prices, including crude oil, coal and natural gas, are expected to remain high for the foreseeable future.

Holu Hou Energy (HHE), recently acquired by Borqs, is committed to the innovative solar energy storage business and is poised to benefit from these high fossil fuel prices due to expected price savings compared to to fossil fuels. Borqs is committed to building a sustainable business that can reduce carbon emissions and provide clean, cost-effective energy solutions to the US residential market. HHE’s experienced management team and staff are currently working industrially on several solar projects in Hawaii and plan to enter the continental United States market in 2022.

President Joe Biden has made climate a priority of his administration and called for a carbon-free energy sector by 2035. In reality, fossil fuels still power most of the planet, while renewable resources as solar and wind only contribute a small percentage of the world’s energy. ability. Borqs is positioned to grow its clean energy business for the long term in the United States and globally.

To learn more about Borqs Solar Business Unit, please visit

About Borqs Technologies, Inc.
Borqs Technologies is a global leader in IoT software and products, 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 by leveraging its strategic relationships with chipset partners as well as its extensive software and IP portfolio. Borqs unique strengths include its Android and Android Wear licenses which have enabled the company to develop a software IP library covering chipset software, Android enhancements, domain-specific usage and system performance optimization, tailored to high and low volume custom products. The Company is also currently developing 5G products for phones and hotspots.

Borqs recently acquired a majority stake in a solar energy storage systems company in the United States

Forward-Looking Statements and Additional Information
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Investor contacts:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
[email protected]