Taiwan Cement Corp increases its shareholding in battery company

Taiwan Cement Corp (TCC) has increased its valuation of battery storage and electric vehicle infrastructure solutions provider New Horizons Ahead (NHOA). TCC, trading as TCC Group Holdings, is currently the owner of 87.78 per cent of the share capital in Italy-headquartered NHOA.

The move would take NHOA fully into private ownership and result in its delisting from the Euronext Paris Exchange. In an interview with Energy-Storage.news Premium published in July, Giuseppe Artizzu, head of NHOA’s energy storage business line, said the move would be a “financial efficiency driver.”