SolarMax Technology shares surge 20.59% premarket after securing $158M Puerto Rico battery storage contracts with multi-year revenue visibility.

SolarMax Technology (SMXT) surged 20.59% in premarket trading following the announcement of $158.3 million in EPC contracts for 400 MWh battery storage projects in Puerto Rico. The agreements, involving full-scope construction services and 9% equity stakes in each project, provide multi-year revenue visibility through 2027 and reinforce the company’s position in the utility-scale energy storage market. CEO David Hsu emphasized the contracts’ role in strengthening operating leverage and aligning with long-term shareholder value. The projects, designed to enhance grid stability and renewable energy integration in Puerto Rico, underscore growing demand for large-scale storage solutions. The news directly correlates with the stock’s sharp premarket rise, reflecting investor optimism over SolarMax’s strategic expansion and revenue diversification.