PVTIME - On 23 March 2023, Shenzhen Prolto Supply Chain Management Co, Ltd (Prolto) (002769.SZ), a China-based company mainly engaged in providing supply chain management services, disclosed that it intends to issue shares to specific objects to raise not more than 1 billion yuan, of which the net proceeds after deducting the issue expenses will be used for commercial and industrial energy storage power plant projects, distributed photovoltaic power plant projects, energy storage battery research and development and supplementary working capital.
Prolto plans to invest in and operate commercial and industrial energy storage power plants in Jiangsu, Zhejiang and Guangdong provinces of China to earn peak-to-valley differential revenue and reduce electricity costs for commercial and industrial customers. The project is expected to be completed within one year, with a total investment of 310.8 million yuan, of which 309.7058 million yuan will be raised this time.
Meanwhile, the company intends to invest in distributed photovoltaic power plants on industrial and commercial rooftops in Guangdong, Guangxi, Hunan and other provinces and cities in China, with a total investment of 317.475 million yuan, of which 307.7241 million yuan will be from the funds.
Furthermore, a research centre focusing on the energy storage battery technology, such as sodium-ion related, will also be invested in. The research project is expected to be completed within 2 years, with a total investment of 136.9521 million yuan, all of which will be provided by the funds.