Chinas Haitian Group to buy PV business from Heraeus for $68.6 million
Chinese conglomerate Haitian Group has agreed to acquire Heraeus‘ photovoltaic silver paste business for CNY 502 million ($68.6 million), marking a shift toward renewable energy.
The deal, made through Haitian Solar, includes full equity stakes in Heraeus Photovoltaics (Shanghai), Heraeus Photovoltaic Technology (Shanghai), and Heraeus Photovoltaics Singapore. It also covers outstanding debts owed by these units to their parent companies.
The counterparties include Heraeus China and Heraeus Materials Singapore, which are subsidiaries of Germany's Heraeus Holding GmbH, a global supplier of precious metals and technology.
Heraeus posted revenues of €25.6 billion ($26.6 billion) in 2023.
Haitian Group’s core operations focus on urban water supply, sewage treatment, and waste-to-energy projects. However, it has faced challenges such as reduced demand for new water infrastructure projects and stricter financing requirements.
Haitian said it is now targeting growth through the Heraeus silver paste business, due to the limitations of its existing business model. But it noted risks such as the cyclical nature of the solar industry and cross-border management complexities.
The acquired units generated €300 million in revenue in 2023 but posted a loss of €6.11 million. In the first half of 2024, revenues fell to €125 million, with losses widening to €6.86 million.
Heraeus will inject additional capital into its subsidiaries before the deal closes, including CNY 200 million for Heraeus Photovoltaics (Shanghai), CNY 130 million for Heraeus Photovoltaic Technology, and $5 million for Heraeus Photovoltaics Singapore, while settling outstanding bank loans.
The acquisition has secured internal approvals from Haitian's board and the Heraeus Group, but still needs the green light from China’s National Development and Reform Commission (NDRC), the Chinese Ministry of Commerce, and the Chinese State Administration of Foreign Exchange. Singapore’s foreign investment authorities must also approve the deal.
Customized/OEM/ODM Service
HomSolar Supports Lifepo4 battery pack customization/OEM/ODM service, welcome to contact us and tell us your needs.
HomSolar: Your One-stop LiFePO4 Battery Pack & ESS Solution Manufacturer
Our line of LiFePO4 (LFP) batteries offer a solution to demanding applications that require a lighter weight, longer life, and higher capacity battery. Features include advanced battery management systems (BMS), Bluetooth® communication and active intelligent monitoring.
Customised Lithium Iron Phosphate Battery Casing
ABS plastic housing, aluminium housing, stainless steel housing and iron housing are available, and can also be designed and customised according to your needs.
HomSolar Smart BMS
Intelligent Battery Management System for HomSolar Energy Storage System. Bluetooth, temperature sensor, LCD display, CAN interface, UART interface also available.
Terminals & Plugs Can Be Customized
A wide range of terminals and plugs can be customised to suit the application needs of your battery products.
Well-designed Solutions for Energy Storage Systems
We will design the perfect energy storage system solution according to your needs, so that you can easily solve the specific industry applications of battery products.
About Our Battery Cells
Our energy storage system products use brand new grade A LiFePO4 cells with a battery lifespan of more than 4,000 charge/discharge cycles.
Applications in Different Industries
We supply customized & OEM battery pack, assemble cells with wiring, fuse and plastic cover, all the cell wires connected to PCB plug or built BMS.
Applications: E-bike, Electric Scooter, Golf Carts, RV, Electric Wheelchair, Electric Tools, Robot Cleaner, Robot Sweeper, Solar Energy Storage System, Emergency Light, Solar Power Light, Medical Equipment, UPS Backup Power Supply.
We can provide you with customized services. We have the ability to provide a vertical supply chain, from single cells to pack/module and to a complete power solution with BMS, etc.
HomSolar (Shenzhen) Technology Co., Ltd
