SolarMax Technology Awarded $127.3 Million EPC Contract for 430 MWh Battery Storage Project in Texas
SolarMax Technology (Nasdaq: SMXT) has secured a significant $127.3 million EPC contract for a utility-scale battery storage project in Pecos County, Texas. The company's subsidiary, SolarMax Renewable Energy Provider, will deliver comprehensive EPC services for a 430 MWh battery energy storage system (BESS), with project completion expected by June 30, 2026.
As part of the agreement with Longfellow BESS I LLC, SolarMax will acquire an 8% ownership stake in the project. The BESS installation aims to enhance grid stability and energy affordability in Texas by storing renewable electricity for peak demand periods.
SolarMax Technology (Nasdaq: SMXT) ha ottenuto un importante contratto EPC da 127,3 milioni di dollari per un progetto di accumulo di energia su larga scala nella contea di Pecos, Texas. La controllata dell'azienda, SolarMax Renewable Energy Provider, fornir脿 servizi EPC completi per un sistema di accumulo di energia a batteria da 430 MWh (BESS), con completamento previsto entro il 30 giugno 2026.
Come parte dell'accordo con Longfellow BESS I LLC, SolarMax acquisir脿 una quota di propriet脿 dell'8% nel progetto. L'installazione del BESS mira a migliorare la stabilit脿 della rete e l'accessibilit脿 energetica in Texas immagazzinando energia rinnovabile per i periodi di picco della domanda.
SolarMax Technology (Nasdaq: SMXT) ha asegurado un importante contrato EPC de 127,3 millones de d贸lares para un proyecto de almacenamiento de bater铆as a escala de servicios p煤blicos en el condado de Pecos, Texas. La subsidiaria de la compa帽铆a, SolarMax Renewable Energy Provider, proporcionar谩 servicios EPC integrales para un sistema de almacenamiento de energ铆a con bater铆as de 430 MWh (BESS), con finalizaci贸n del proyecto prevista para el 30 de junio de 2026.
Como parte del acuerdo con Longfellow BESS I LLC, SolarMax adquirir谩 una participaci贸n del 8% en el proyecto. La instalaci贸n del BESS tiene como objetivo mejorar la estabilidad de la red y la asequibilidad energ茅tica en Texas almacenando electricidad renovable para los periodos de m谩xima demanda.
SolarMax Technology (雮橃姢雼�: SMXT)電� 韰嶌偓鞀� 韼橃綌鞀� 旃挫毚韹办棎靹� 雽�攴滊 鞙犿嫺毽嫲鞖� 氚绊劙毽� 鞝�鞛� 頂勲鞝濏姼毳� 鞙勴暅 1鞏� 2730毵� 雼煬 攴滊鞚� EPC 瓿勳暯鞚� 觳搓舶頄堨姷雼堧嫟. 須岇偓鞚� 鞛愴殞靷澑 SolarMax Renewable Energy Provider臧� 430MWh 氚绊劙毽� 鞐愲剤歆� 鞝�鞛� 鞁滌姢韰�(BESS)鞐� 雽�頃� 膦呿暕 EPC 靹滊箘鞀るゼ 鞝滉车頃橂┌, 頂勲鞝濏姼 鞕勲電� 2026雲� 6鞗� 30鞚�搿� 鞓堨爼霅橃柎 鞛堨姷雼堧嫟.
Longfellow BESS I LLC鞕�鞚� 瓿勳暯鞚� 鞚柬櫂鞙茧 SolarMax電� 頂勲鞝濏姼鞐� 雽�頃� 8% 歆�攵�鞚� 旆摑頃� 鞓堨爼鞛呺媹雼�. 鞚� BESS 靹れ箻電� 韰嶌偓鞀れ潣 鞝勲牓毵� 鞎堨爼靹标臣 鞐愲剤歆� 牍勳毄 鞝堦皭鞚� 鞙勴暣 鞛儩 鞐愲剤歆�毳� 鞝�鞛ロ晿鞐� 頂柬伂 靾橃殧 旮瓣皠鞐� 頇滌毄頃橂姅 瓴冹潉 氇╉憸搿� 頃╇媹雼�.
SolarMax Technology (Nasdaq : SMXT) a obtenu un contrat EPC important de 127,3 millions de dollars pour un projet de stockage d'茅nergie par batterie 脿 l'茅chelle d'un service public dans le comt茅 de Pecos, au Texas. La filiale de la soci茅t茅, SolarMax Renewable Energy Provider, fournira des services EPC complets pour un syst猫me de stockage d'茅nergie par batterie de 430 MWh (BESS), avec une ach猫vement du projet pr茅vu pour le 30 juin 2026.
Dans le cadre de l'accord avec Longfellow BESS I LLC, SolarMax acquerra une participation de 8% dans le projet. L'installation du BESS vise 脿 am茅liorer la stabilit茅 du r茅seau et l'accessibilit茅 茅nerg茅tique au Texas en stockant de l'茅lectricit茅 renouvelable pour les p茅riodes de forte demande.
SolarMax Technology (Nasdaq: SMXT) hat einen bedeutenden EPC-Vertrag 眉ber 127,3 Millionen US-Dollar f眉r ein gro脽ma脽st盲bliches Batteriespeicherprojekt im Pecos County, Texas, gesichert. Die Tochtergesellschaft des Unternehmens, SolarMax Renewable Energy Provider, wird umfassende EPC-Dienstleistungen f眉r ein 430 MWh Batteriespeichersystem (BESS) erbringen, mit einem geplanten Projektabschluss bis zum 30. Juni 2026.
Im Rahmen der Vereinbarung mit Longfellow BESS I LLC wird SolarMax einen 8%igen Eigentumsanteil am Projekt erwerben. Die BESS-Installation soll die Netzstabilit盲t und Energieerschwinglichkeit in Texas verbessern, indem erneuerbare Energie f眉r Spitzenlastzeiten gespeichert wird.
- Secured major $127.3 million EPC contract for utility-scale battery storage
- Strategic expansion beyond residential solar into commercial-scale EPC services
- 8% ownership stake in the project provides additional revenue potential
- Strong project pipeline indicates potential for future growth
- Project completion timeline extends to mid-2026, indicating delayed revenue recognition
- Supplier discussions still not finalized, presenting potential execution risks
Insights
SolarMax secures major $127.3M battery storage contract, strategically diversifying beyond residential solar into commercial-scale EPC services.
SolarMax Technology has secured a
The scope is comprehensive 鈥� covering design, engineering, procurement, construction, and commissioning 鈥� with completion targeted by mid-2026. This positions SolarMax in the rapidly growing utility-scale storage market, which is critical infrastructure as renewable penetration increases across the grid.
This diversification beyond residential solar installations into large-scale commercial EPC services represents an important strategic evolution. The Texas location is particularly notable as the ERCOT market faces ongoing grid stability challenges, creating strong demand for flexible storage assets that can provide reliability services and arbitrage opportunities.
The 430 MWh capacity makes this a substantial mid-sized storage project by current industry standards. For context, a system of this size could potentially power approximately 43,000 homes for 4 hours during peak demand periods. The project's ability to store renewable energy for dispatch during peak demand will help address the intermittency challenges of wind and solar generation while potentially capturing price spreads in the volatile Texas electricity market.
This contract signals SolarMax's capability to execute on larger infrastructure projects, potentially opening doors to similar opportunities as their project pipeline develops. The company's strategic positioning in both residential and now utility-scale markets provides diversified revenue streams and reduced sector-specific risk exposure.
RIVERSIDE, Calif., Aug. 05, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (鈥淪olarMax鈥� or the 鈥淐ompany鈥�), an integrated solar energy company, today announced that its wholly owned subsidiary, SolarMax Renewable Energy Provider, Inc., has entered into an engineering, procurement and construction (EPC) agreement with Longfellow BESS I LLC for a new utility-scale battery storage project in Pecos County, Texas. The contract is expected to generate revenues of approximately
Under the agreement, SolarMax will deliver full-scope EPC services鈥攊ncluding design, engineering, procurement, installation, construction, testing, startup, and commissioning鈥攆or a 430 megawatt-hour (MWh) battery energy storage system (BESS) and its associated high-voltage interconnection infrastructure. Project completion is expected by June 30, 2026.
鈥淭his contract represents a key step in scaling our commercial footprint in the United States and validates our strategy to diversify beyond residential solar into commercial-scale EPC services,鈥� said David Hsu, CEO of SolarMax. 鈥淲ith supplier discussions nearing conclusion, we are confident in our ability to meet the project鈥檚 mid-2026 delivery timeline.鈥�
The BESS project is designed to support grid stability and energy affordability in Texas by enabling the storage of renewable electricity for use during periods of peak demand. This installation contributes to the region鈥檚 broader clean energy strategy and is expected to play a critical role in maintaining grid reliability.
鈥淲e鈥檙e actively pursuing additional project opportunities across the U.S., and we鈥檙e encouraged by the strong momentum we鈥檙e seeing in our pipeline,鈥� Hsu added. 鈥淭his project reinforces our transition into a more diversified energy company, and we believe it positions us well to capitalize on the accelerating demand for large-scale clean energy solutions nationwide.鈥�
About SolarMax Technology Inc.
SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in southern California. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and LED lighting solutions in the US while expanding its residential solar operations. SolarMax鈥� website is .
Any information contained on, or that can be accessed through SolarMax鈥� website or any other website or any social media is not a part of this press release.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (鈥淪ecurities Act鈥�) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 锟斤拷would,鈥� 鈥渃ould,鈥� 鈥渟eek,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥済oal,鈥� 鈥減roject,鈥� 鈥渆stimate,鈥� 鈥渁nticipate,鈥� 鈥渟trategy,鈥� 鈥渇uture,鈥� 鈥渓ikely鈥� or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to the ability of SolarMax to price its services on the contract at rates that will enable SolarMax to generate a profit from the agreement, including the effect of inflation and tariffs on SolarMax鈥� cost, which may impact its ability to generate a profit from the transaction, the effect on SolarMax鈥� residential business with the termination of the federal residential solar tax credit on December 31, 2025 and those described in 鈥淐autionary Note on Forward-Looking Statements,鈥� 鈥淚tem 1A. Risk Factors,鈥� and 鈥淚tem 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,鈥� in the Company鈥檚 Annual Report on Form 10-K for the year ended聽December 31, 2024, as filed with the SEC on March 31, 2025 and 鈥淢anagement's Discussion and Analysis of Financial Condition and Results of Operations鈥� in the Company鈥檚 report on Form 10-Q for the quarter ended March 31, 2025, which was filed with the SEC on May 16, 2025. SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
Contact:
For more information, contact:
Stephen Brown, CFO
(951) 300-0711
FAQ
What is the value of SolarMax Technology's (SMXT) new EPC contract in Texas?
When will SolarMax Technology (SMXT) complete the Texas battery storage project?
What ownership stake will SolarMax (SMXT) have in the Texas battery project?
What is the storage capacity of SolarMax's (SMXT) Texas battery project?
How does the Texas battery project align with SolarMax's (SMXT) business strategy?
