Sun Pacific Holding Corp (SNPW)

[wallstreet1231]

Foxess on the move - raising money and building stateside.

Fox ESS to raise over RMB 1.6B($223M USD) through IPO
Fox ESS, a manufacturer of PV inverters and energy storage systems (ESS), has launched its initial public offering (IPO). The company specializes in on-grid inverters, storage inverters, and lithium battery systems.

According to its prospectus, Fox ESS plans to issue up to 90 million A-shares and aims to raise over RMB 1.6 billion ($222 million). The proceeds from the IPO will be used to construct a smart energy storage industrial park, R&D facilities, marketing and technical support systems, and as working capital.

Fox ESS, a company specializing in energy solutions, is involved in the development of an industrial park, specifically the Fox Field Commerce Center in Lancaster, California. The project includes a 637,327-square-foot warehouse and distribution facility, currently under construction, with a planned delivery in Q3 2025. Fox ESS is also involved in the construction of the Edenvale Industrial Park in San Jose, California, which will feature state-of-the-art industrial buildings.
Here's a more detailed look at the projects:
Fox Field Commerce Center (Lancaster, CA):
Location: N 45th Street W, Lancaster, CA
Size: 637,327 square feet
Features: Includes 76 dock doors (expandable), 4,000 amps of power (expandable), up to 40,000 square feet of office space, and solar power capacity of up to 500 kilowatts.
Status: Pre-leasing is available, and the facility is currently under construction with a planned delivery in Q3 2025.
Purpose: Designed to support distribution tenants with various industrial capabilities.
Accessibility: Strategically located near Highway 14, 138, and Interstate 5, providing access to the Ports of Long Beach and Los Angeles.
Edenvale Industrial Park (San Jose, CA):
Partners: Developed in partnership with Hines.
Scope: Spans two sites totaling 45+ acres.
Buildings: Features three cutting-edge industrial buildings.
Purpose: Designed to provide solutions for advanced manufacturing and operational excellence.
Construction: Construction is scheduled to start in September 2024, with completion of the 647,327 sf building expected by June 2025.