Tag: power supply

Wenzhou, China, July 28, 2025 (GLOBE NEWSWIRE) -- Erayak Power Solution Group Inc. (NASDAQ: RAYA) ("Erayak" or the "Company"), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, today announced the closing of its previously announced registered direct offering with certain institutional investors for the sale and purchase of an aggregate of 30,612,246 of the Company’s  Class A ordinary shares, par value $0.0001 per share (the “Shares”) (or Class A ordinary share equivalents in lieu thereof) in a registered direct offering at a purchase price of $0.098 per share. The purchase price for the pre-funded warrants was $0.098 to the purchase price for Shares, less the exercise price of $0.0001 per share.

The Asia-Pacific space power supply market, valued at $981.89 million in 2024, is set to grow at a CAGR of 4.99%, reaching $1.59 billion by 2034. Key drivers include rising regional launch activities from China's Tianwen and India's Gaganyaan, and ASEAN small-sat constellations, alongside a growing demand for portable, dependable power solutions. Innovations such as AI-enabled MPPT controllers and Li-ion batteries reduce mass and boost durability. Major players like SHARP CORPORATION and Mitsubishi Electric lead a competitive landscape, bolstered by regional partnerships and investments in sustainable, cost-efficient technologies.