PVTIME - On 16 October 2023, Beijing New Universal Science and Technology Co., Ltd.(NEWU)(300472.SZ), a high-tech company mainly engaged in the research and development, manufacture and sale of intelligent ingredient conveying equipment and solutions, announced that it intends to invest 460 million yuan in the construction and development of a solar inverter manufacturing project through the establishment of a subsidiary with a total investment of 460 million yuan.
According to the announcement, NEWU has signed a framework agreement as well as an investment agreement with the local government for the construction of facilities on an area of 100,000 square metres to launch the inverter manufacturing project with a production capacity of 20GW of high-reliability photovoltaic inverters and bi-directional inverters.
Founded in September 2003 and successfully listed on the Shenzhen Stock Exchange in 2015, NEWU is an innovative high-tech enterprise that integrates research and development, design, intelligent manufacturing, system integration, and operation and maintenance services. The company mainly serves industries and fields such as automobile tyres, rubber products, recycling, new energy materials, petrochemicals, coal mines, food, metallurgy, etc., providing intelligent and comprehensive solutions for enterprises. Since its establishment, NEWU's main products are all self-developed and supported by a mature technological innovation research and development system, which includes not only R&D group, intelligent production base and testing centre, but also cooperation team members in top technology and science universities in China.