Solar project developer, investor and manufacturer Photon Energy has announced it is assessing financing options ahead of a planned expansion and IPO in the first quarter of 2014.
The company is already listed on the New Connect segment of the Warsaw Stock Exchange but is planning a full listing next year to coincide with a global expansion strategy.
Photon announced strong results for the second quarter with earnings before interest, taxes, depreciation and amortisation (EBITDA) up 32% compared to the same period last year to €2.5 million (US$3.3million).
The company said it would have returned to profitability had it not been for the 26% levy placed on Czech PV power plants.
Record generation results and “promising developments” in the Australian market left the company with a bullish outlook for the future.
“We believe that the strong results in Q2 provide proof that Photon Energy has been successful in riding out the storm in the industry and is on the right track towards becoming a leading force in the upcoming solar age where competitive solar energy will rapidly become the key energy source globally,” said Georg Hotar, CEO, Photon Energy.
“Evidence is mounting that equity investors and debt providers around the world are taking note,” he added.
“The solar age is here and as one of the few companies with global experience surviving the industry shake-out we are motivated to become the leading solar energy solutions and services provider,” said Hotar.