RIVERSIDE, Calif., Jan. 05, 2026 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today announced that its wholly owned subsidiary, SolarMax Renewable Energy Provider, Inc., has entered into two engineering, procurement and construction (EPC) agreements with Yabucoa BESS LLC and Naguabo BESS LLC for new utility-scale battery energy storage system ("BESS") projects located in Humacao, Puerto Rico and Ceiba Municipality, Puerto Rico. The two EPC contracts are expected to generate total revenues of approximately $158.3 million. In connection with the transactions, SolarMax is purchasing a 9% equity interest in each project entity.

Under the agreements, SolarMax will deliver full-scope EPC services—including design, engineering, procurement, installation, construction, testing, startup, and commissioning for a combined 400 megawatt-hours (MWh) of battery storage capacity.

"Securing projects of this size highlights SolarMax's growing position in the utility-scale energy storage market," said David Hsu, CEO of SolarMax. "We believe these new agreements will significantly strengthen our forward revenue visibility, adding a substantial multi-year revenue stream through 2027."

The two BESS projects are designed to support grid stability and energy affordability in Puerto Rico by enabling the storage of renewable electricity for use during periods of peak demand. These installations are structured to contribute to the region's broader clean energy strategy and play a critical role in maintaining grid reliability.

"Demand for large-scale energy storage solutions continues to grow," Hsu added. "As we enter into contracts for projects of increasing size and complexity, ...