Former NBA star Dwight Howard has signed with the Taoyuan Leopards, and J & V Energy, the major shareholder of the basketball team, has submitted an application for listing on the Taiwan Innovation Board, making it the fourth startup for such application.
Taiwan Stock Exchange commented that J & V Energy’s submission of application on November 15th marks it the fourth startup to be applying for listing after PlayNitride was listed at the Taiwan Innovation Board, and HD Renewable Energy’s submission of application on October 31st. With the entry of HD Renewable Energy and J & V Energy, a renewable energy industry cluster is gradually taking shape at the Taiwan Innovation Board.
Taiwan Stock Exchange pointed out that J & V Energy, who submitted an application this time, aims to become the Berkshire of the green energy sector. The company’s solar PV systems can now be found around the entire Taiwan, and are engaged in three major businesses, which are development of renewable energy power plants, investment and establishment, as well as maintenance and management. Adhering to sustainable energy as its core belief, J & V Energy has also penetrated into wind power, energy storage, sales platforms of electricity, water resources, and biomass power generation.
Chao shu-ming, General Manager of J & V Energy, commented that the company was listed at the emerging stock market in January this year, and aims to march towards listing as fast as possible. The Taiwan Innovation Board launched by the Taiwan Stock Exchange aims to facilitate companies with innovative business models to apply for listing, which coincides with J & V Energy’s daring and novel brand image, and prompted the company to first apply for listing at the Taiwan Innovation Board.
Chao pointed out that J & V Energy’s FPV farm in Beimen of Tainan would complete in construction at the end of this year, and has successively established energy storage farms in Taoyuan and Kaohsiung, as well as constructed a 200MW energy storage farm in Yilan that is the largest in Taiwan, which would complete next year. In addition, the company was also awarded the bid for the first tender in Taiwan that combined energy storage systems with solar PV equipment, laying down yet another milestone.
Chao shared that the company is also expecting good news on offshore wind power at the end of the year. The offshore Formosa 4 and 5 Wind Farms co-developed by the Taiwan offshore wind power team have passed the preliminary EIA review. J & V Energy also participated in the block development tender of the third phase during September this year, as well as signed contracts of green power transfer with E. Sun Bank, GOGORO, and major semiconductor supplier Micron. Power sales are likely to ascend continuously in the future.
Chao emphasized that J & V Energy has been a long-term advocator of children football events, a supporter of the J & V Energy Deaf Baseball Team, and even established the Taoyuan Leopards basketball team, where the company successfully signed former NBA star Dwight Howard in the hope of ascending Taiwan’s sport industry to the global standard and bringing a pristine experience for Taiwan’s basketball sector.
Taiwan Stock Exchange stressed that the opening of the Taiwan Innovation Board has successively mitigated listing standards for the market value and revenue of new listed companies, restrictions on the conditions of investors, reduction of duration for board switching, and adjustment of the period for the appointment of underwriters to assist in compliance. In addition, the alleviation on the restrictions for the conditions of “qualified investors” at the Taiwan Innovation Board had generated more than 100K qualified investors as of the end of September this year under a growth of more than 50%.
(Cover photo source: J & V Energy)
