Commercial Times: Psi spins off energy division, sees even better performance
The shareholders meeting of Phoenix Silicon International Corporation (Psi, 8028) recently passed a resolution to spin off the Energy Business Division. The new company, of which Psi will hold 100% of shares, is called Phoenix Battery Corp. (PBC). July 1 is the basis date for the division; this year, completion of a PBC seasoned equity offering is planned, as well as introducing new strategic partners. With the new opportunities available domestically and in the global green energy industry, PBC is continuing to expand and deepen exports in the lithium battery applications market. Mike Yang, Psi Chairman, pointed out that PBC uses the well-established nature of the niche applications market to work with strategic partners and provide even more resources. This means real-time expansion and depth for overseas energy market outlets. Not only does this respond to the government policy of green industry and the non-nuclear homeland, it also aligns with the global trend toward green energy industry.
Source：https://www.chinatimes.com/newspapers/20170602000307-260210?chdtv