Smart Powerr raises $2 million in registered direct offering

Smart Powerr Corp. (NASDAQ: CREG) entered into a definitive agreement with investors for a $2 million registered direct offering of common stock at $0.45 per share.

The Xi'an, China-based company expects the transaction to close on or about May 20, 2026, subject to customary closing conditions. Univest Securities, LLC serves as the sole placement agent for the offering.

The company conducted the registered direct offering under a shelf registration statement on Form S-3 that became effective on August 27, 2024. The filing is available through the Securities and Exchange Commission's website.

Smart Powerr operates as a waste energy recycling company and developer of energy efficiency solutions for energy-intensive industries in China. The company uses a Build-Operate-Transfer model to provide energy saving and recovery facilities, allowing customers to recapture wasted pressure, heat, and gas from manufacturing processes to generate electricity.

According to the company, it is transforming into an energy storage integrated solution provider business and plans targeted expansion strategies for new market areas. Smart Powerr stated it seeks opportunities to apply energy storage technologies to industrial and commercial complexes, large-scale photovoltaic and wind power stations, remote islands without electricity, and smart energy cities.

You May Also Be Interested In

• Daré Bioscience prices $6M direct offering at $1.37 per share
• Exzeo Group authorizes $25 million share repurchase program
• bioAffinity Technologies closes $4M private placement offering