Product | Energy Storage

Artus Solar Power, a member of the Silicon Component Super Alliance, raised $150m in a share offering that will help the manufacturer expand its energy storage business.

However, Arters said it could also use some of the proceeds to invest in or acquire businesses, assets or technology that it believes are “complementary to its business.”

Arters sold more than 3.6m shares in a “floor” offering, raising $150m before fees and fees related to the offering.

The net proceeds from the offering will be used to invest in the Company’s battery storage business, advance the Company’s energy storage programs and for possible investments or acquisitions of businesses, assets or technologies.

Mr Artes said it could also use the proceeds to consolidate its portfolio of solar assets in Europe and Brazil.

Artus is a relative newcomer to the battery storage space, having maintained the solar pv project development division. But Artus has quickly amassed a considerable portfolio of projects.