Utech Solar Corporation announced a private placement of not more than 38,000,000 common shares at an issue price of TWD 10 per share for the gross proceeds of not more than TWD 380,000,000 on May 6, 2024. The transaction will include participation from returning investor United Renewable Energy Co., Ltd for not more than 38,000,000 common shares. The transaction has been approved by the board of directors of the company.