One Stop Warehouse (OSW), one of Australia’s largest wholesale solar distributors, has announced a successful Series A funding round of $51 million, providing capital for international expansion and reinvigoration of products and service offerings locally.
As part of the strategic investment, Hillhouse Investment, a global private equity firm with a focus in Asia, has acquired $27 million worth of shares from GCL Integration, with an additional $24 million capital injection into the Australian firm.
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The investment is designed to fortify OSW’s rapid global expansion. Recent openings of distribution centres in Poland, Netherlands and Texas are soon to be followed by additional locations in Texas, Germany and France in 2023. This evolution is a result of the direct demand OSW has determined for its C&I offerings in the European and US markets.
Hillhouse Investment’s support would further enhance OSW’s revolutionary and newly unveiled energy value chain. The amalgamation of software capabilities, technologies and solutions – in particular in areas such as Virtual PowerPlants (VPP) and Electric Vehicles (EVs) – captures the essence of the organisation’s capacity.
OSW co-founder and CEO Anson Zhang said the deal represented tremendous opportunities both locally and overseas.
“We’re seeing incredible demand for sustainable energy solutions and for countries like Australia, which enjoys an abundance of sunshine, solar power generation has to be at the forefront,” Zhang said.
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“Through expanding our network we seek to bring to market an even greater portfolio of new and innovative solutions that will help our customers meet the growing demands.”
“Internationally, we’re seeing a similar story and firmly believe that solar power generation will play a critical role in society for years to come. The future is bright.”
