Suzhou Maxwell invests $10m in renewable energy infrastructure fund

Suzhou Maxwell Technologies Co., Ltd. announced that its wholly-owned subsidiary, Maxwell Technology Pte. Ltd., will invest $10 million as a limited partner in Sparkedge Development Fund One L.P. The fund, managed by Sparkedge Capital Management Ltd., has an initial target size of $50 million. This strategic move aims to expand Suzhou Maxwell's business into renewable energy infrastructure.

The fund, registered in the Cayman Islands, will primarily target renewable energy infrastructure development, spanning development and construction phases. Investment instruments include ordinary shares, preferred shares, convertible bonds, and corporate bonds, avoiding high-risk investments like options and futures. The fund has a lifespan of seven years from the first closing date, with a potential one-year extension.

Suzhou Maxwell Technologies emphasized that this investment aligns with its strategic growth objectives and is funded by its own capital, without impacting core operations. However, the company noted risks associated with long investment cycles, lower liquidity, and potential impacts from macroeconomic conditions or regulatory changes. The investment is subject to local financial regulatory approval.