SolarMax Technology shares rise 19.61% premarket after securing $158M Puerto Rico and $258M Texas battery storage contracts.

SolarMax Technology surged 19.61% in premarket trading following the announcement of two $158.3 million EPC contracts for 400 MWh battery storage projects in Puerto Rico. The company, through its subsidiary, will provide full-scope EPC services and secure 9% equity stakes in the project entities, adding a multi-year revenue stream through 2027. CEO David Hsu emphasized the contracts’ role in strengthening SolarMax’s position in the utility-scale energy storage market and enhancing forward revenue visibility, aligning with broader clean energy strategies in Puerto Rico. The news, reported across multiple outlets, underscores growing demand for large-scale storage solutions and positions SolarMax to leverage operating leverage and market expansion in a multi-billion-dollar sector.