Seetel New Energy (Stock Code: 7740) held its pre-IPO performance presentation today (20th). In the first quarter of 2025, Seetel New Energy demonstrated strong operational momentum, driven by its four core businesses: battery manufacturing, intelligent EMS, EPC engineering and O&M services, fully advancing performance with high added value. Quarterly revenue reached NT$247 million, gross profit was NT$156 million and the gross profit margin approached 63%. Net profit after tax totaled NT$74.68 million, with EPS of NT$1.36 for the quarter.
Looking ahead, Seetel is set to enter a period of rapid growth in 2025. Battery production lines are ramping up, while demand for commercial and industrial energy storage systems is simultaneously expanding. The Company’s upgraded business structure will continue to drive profit momentum. EMS platform and O&M service volumes are growing rapidly. Together with the two large-scale E-dReg project sites in Kaohsiung, scheduled for completion in the first half of 2026, Seetel’s future revenue is expected to grow steadily, providing a solid foundation for sustained profitability.
Seetel’s battery manufacturing affiliate, Aurosi Precision, offers localized production and MIT (Made in Taiwan) manufacturing advantages. This not only strengthens the supply capability for large-scale domestic projects but also actively expands into overseas markets, serving as a key driver for export growth. The Company has already launched its market expansion into Canada to target the high-growth potential of local battery energy storage applications. According to a Grand View Research report, the Canadian battery energy storage system market is expected to grow from US$335 million in 2023 to US$2.053 billion by 2030, representing a compound annual growth rate (CAGR) of 29.6%. This indicates that the market is in an accelerated expansion phase, presenting a significant opportunity for companies with robust delivery and system integration capabilities.
In Canada, most energy storage projects adopt an integrated EPC+ O&M contracting model, which aligns well with Seetel’s in-house EMS platform, battery modules and cloud-based O&M capabilities. This synergy supports long-term partnerships and strengthens localized operations, further enhancing the benefits of exporting complete project solutions.
In the Japanese market, Seetel will launch with a 1.99MW/8MWh project, participating in the EPRX, JEPX and capacity markets through the aggregator (AC) mechanism to seize a favorable position under the new supply-demand adjustment framework. The Company has established a local subsidiary using the GK corporate structure to serve as a platform for local operations and project development, enabling flexible alignment with Japan’s power market and strategic partners, and enhancing localization and market participation efficiency.
Seetel expects its total shipments in 2025 to exceed 1GWh, marking its official entry into the gigawatt-hour tier among local energy storage system providers in Taiwan. This also signifies that Seetel possesses fully integrated project delivery capabilities from manufacturing and design to operations. Starting from Taiwan, Seetel is transforming “MIT Manufacturing” into a new source of global competitiveness in the energy sector, positioning itself at the forefront of the international energy storage stage.
Seetel’s self-developed EMS platform, “GridLink OS” has accumulated a signed capacity of 535 MW, securing a leading position in the Taiwanese market, and establishing a highly sticky and deeply integrated energy management service network. This scale not only reflects the market’s strong trust in the stability and integration capability of Seetel’s system but also forms a core foundation for the Company’s transition toward a long-term, stable revenue model.
GridLink OS offers four key technological competitive advantages:
1. AI Model-Based Control: Seetel employs proprietary algorithms that integrate prediction, analysis and control functions to enhance site responsiveness.
2. Self-Diagnosis and Self-Healing Capabilities: These features significantly reduce abnormal response time, minimize labor dependence and enhance system resilience.
3. BIM-Integrated AI Maintenance: Through 3D modeling and hotspot detection, the system predicts equipment anomalies and pushes automated maintenance notifications to improve the foresight of operation and maintenance.
4. Cloud Integration Across Multiple Sites: It supports cross-site Virtual Power Plant (VPP) applications to enable dynamic load management and strategic coordination.
Under a triple-revenue model of “hardware delivery × platform management × O&M services,” the scale of Seetel’s EMS platform is expanding rapidly, and is set to become the key engine driving stable long-term profitability and global replication.
In terms of turnkey site engineering, Seetel’s EPC-signed installation volume has reached 225 MW and O&M contracts have exceeded 625 MWh, making it one of the few energy storage integrators in the industry with large-scale, long-term service capabilities. These O&M contracts are mostly long-term agreements covering 10 to 15 years, which create strong cash flows and ensure system stability throughout its lifecycle. This helps clients significantly reduce operational risks and improve usage efficiency. For Seetel, these efforts are important for establishing long-term trust with customers and enhancing the value output of its systems.
With a cumulative shipment target of 2GWh by 2026, and supported by an expanding EMS platform and O&M service volume, Seetel is set to become one of the most explosively growing companies in the energy storage sector.
Seetel’s battery manufacturing affiliate, Aurosi Precision, offers localized production and MIT (Made in Taiwan) manufacturing advantages. This not only strengthens the supply capability for large-scale domestic projects but also actively expands into overseas markets, serving as a key driver for export growth. The Company has already launched its market expansion into Canada to target the high-growth potential of local battery energy storage applications. According to a Grand View Research report, the Canadian battery energy storage system market is expected to grow from US$335 million in 2023 to US$2.053 billion by 2030, representing a compound annual growth rate (CAGR) of 29.6%. This indicates that the market is in an accelerated expansion phase, presenting a significant opportunity for companies with robust delivery and system integration capabilities.
In Canada, most energy storage projects adopt an integrated EPC+ O&M contracting model, which aligns well with Seetel’s in-house EMS platform, battery modules and cloud-based O&M capabilities. This synergy supports long-term partnerships and strengthens localized operations, further enhancing the benefits of exporting complete project solutions.
In the Japanese market, Seetel will launch with a 1.99MW/8MWh project, participating in the EPRX, JEPX and capacity markets through the aggregator (AC) mechanism to seize a favorable position under the new supply-demand adjustment framework. The Company has established a local subsidiary using the GK corporate structure to serve as a platform for local operations and project development, enabling flexible alignment with Japan’s power market and strategic partners, and enhancing localization and market participation efficiency.
Seetel expects its total shipments in 2025 to exceed 1GWh, marking its official entry into the gigawatt-hour tier among local energy storage system providers in Taiwan. This also signifies that Seetel possesses fully integrated project delivery capabilities from manufacturing and design to operations. Starting from Taiwan, Seetel is transforming “MIT Manufacturing” into a new source of global competitiveness in the energy sector, positioning itself at the forefront of the international energy storage stage.
Seetel’s self-developed EMS platform, “GridLink OS” has accumulated a signed capacity of 535 MW, securing a leading position in the Taiwanese market, and establishing a highly sticky and deeply integrated energy management service network. This scale not only reflects the market’s strong trust in the stability and integration capability of Seetel’s system but also forms a core foundation for the Company’s transition toward a long-term, stable revenue model.
GridLink OS offers four key technological competitive advantages:
1. AI Model-Based Control: Seetel employs proprietary algorithms that integrate prediction, analysis and control functions to enhance site responsiveness.
2. Self-Diagnosis and Self-Healing Capabilities: These features significantly reduce abnormal response time, minimize labor dependence and enhance system resilience.
3. BIM-Integrated AI Maintenance: Through 3D modeling and hotspot detection, the system predicts equipment anomalies and pushes automated maintenance notifications to improve the foresight of operation and maintenance.
4. Cloud Integration Across Multiple Sites: It supports cross-site Virtual Power Plant (VPP) applications to enable dynamic load management and strategic coordination.
Under a triple-revenue model of “hardware delivery × platform management × O&M services,” the scale of Seetel’s EMS platform is expanding rapidly, and is set to become the key engine driving stable long-term profitability and global replication.
In terms of turnkey site engineering, Seetel’s EPC-signed installation volume has reached 225 MW and O&M contracts have exceeded 625 MWh, making it one of the few energy storage integrators in the industry with large-scale, long-term service capabilities. These O&M contracts are mostly long-term agreements covering 10 to 15 years, which create strong cash flows and ensure system stability throughout its lifecycle. This helps clients significantly reduce operational risks and improve usage efficiency. For Seetel, these efforts are important for establishing long-term trust with customers and enhancing the value output of its systems.
With a cumulative shipment target of 2GWh by 2026, and supported by an expanding EMS platform and O&M service volume, Seetel is set to become one of the most explosively growing companies in the energy storage sector.
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