Runergy to Raise 4 Billion Yuan via IPO Just Approved and Its Panels to Enter US Market

PVTIME – Jiangsu Runergy New Energy Technology Co., Ltd. (Runergy), a China-based manufacturer of solar cells and panels, announced recently that its IPO has been approved and is preparing to list on the growth enterprise market (GEM) board of Shenzhen Stock Exchange.

Runergy plans to raise funds of 4 billion yuan, of which 2 billion yuan will be used for high-purity polysilicon production project with annual output of 50,000 MT, 400 million yuan for 5GW HJT cell production, and 1.5 billion yuan the rest to supplement wording capital.

Runergy was founded on 2013 by Dr. Tao Longzhong, who graduated from Sun Yat-sen University, majoring in condensed matter physics, and from Fraunhofer ISE, Flawn, Germany, majoring in photovoltaics. The company mainly engaged on the R&D of mono-crystal PERC solar cell with production capacity of 21GW, and large-size solar cells pf 182mm and above, primarily sold to leading module manufacturers and finally used in photovoltaic power generation systems.

What is more, Runergy will offer its Hyperion line of bifacial panels rated between 390 and 550W to both residential and commercial installers through Inexption the online marketplace in the U.S.