ATIF Holdings Limited, a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that the Company’s IPO advisory services client and investment holding in Solarever Ltd.(“Solarever”), a Mexican solar energy and electric vehicle company, has seen a surge in business sales recently. Under the terms of the agreement signed between the Company and Solarever in the second quarter of 2022, ATIF holds a 5.25% equity stake in Solarever.
Since February 2022, global crude oil prices have soared amid increased global demand and due to supply concerns, making the clean energy industry, especially solar, more compelling. Global crude oil prices exceeded $100 per barrel in mid-May 2022 for the first time since 2014. Some energy industry analysts say higher global crude oil, natural gas and electricity prices could potentially be a longer-term catalyst for acceleration of development of renewable energy capacity globally across a variety of technologies including solar, wind and green hydrogen.
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Solarever is the leading designer and manufacturer of solar products in Mexico, owns Latin America’s largest solar panel manufacturing plant in Tecoman, Colima, Mexico, and has a total of three plants in Mexico that are considered some of the largest in Latin America. Solarever has PV design facility in Chino, California, and warehouse facilities in Laredo, Texas, and San Diego, California. In addition, Solarever launched its first EV in 2022 and is licensed to sell EVs in Mexico.
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Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, “We saw the huge potential of the solar PV industry when we provided IPO advisory services to Solarever and took the opportunity to make a investment in Solarever before its IPO. We are very excited to hear good news from Solarever that its sales have dramatically increased! This is probably due to the recent surge in the price of crude oil, natural gas and other energy sources, which has led to a strong demand for clean energy such as solar energy. We are very pleased with Solarever’s growth and look forward to a higher level of growth.”
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