On 13 November,the Shaanxi Provincial Administration for Market Regulation issued a notice confirming that LONGi Green Energy Technology Co.,Ltd.had signed agreements with Suzhou PotisEdge Energy Technology Co.,Ltd.,a specialist in 31GWh lithium-ion battery energy storage,and other parties.Through a combination of equity acquisition,capital increase and voting rights entrustment,LONGi has secured approximately 61.9998%of PotisEdge’s voting rights.

Prior to the transaction,natural persons held voting rights linked to 44.79%of PotisEdge’s equity and exercised sole control.Once the transaction is complete,LONGi will hold 61.9998%of the voting rights and become the sole controlling shareholder.

Founded in 2015 and based in the Suzhou High-tech Zone in Jiangsu Province,PotisEdge is a national high-tech enterprise.Its proprietary innovations include the world’s first Power Control and Management System(IPCP),1500V high-voltage liquid-cooled storage systems,and 5S highly integrated storage systems incorporating iCCS,BMS,PCS,EMS and TMS.The company has also developed hydrogen energy high-low voltage batteries.The company has amassed almost 350 R&D patents.