Hongli Group Provides Progress Update on Proposed Acquisition of a 20% Equity Interest in Xell Energy
PR Newswire•30/10/2026•08:30 ET
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Key Highlights
- ➤Hongli Group (HLP) negotiating acquisition of a 20% Xell Energy stake
- ➤Proposed transaction remains subject to definitive agreement, approvals, and regulatory clearances
- ➤Hongli and Xell Energy negotiations progressing constructively, but completion is uncertain
- ➤Xell Energy develops high-energy-density batteries for drones, robotics, and unmanned systems
Hongli Group Provides Progress Update on Proposed Acquisition of a 20% Equity Interest in Xell Energy PR Newswire
WEIFANG, China, Oct. 30, 2026 /PRNewswire/ -- Hongli Group Inc. (the "Company") (Nasdaq: HLP), a cold roll-formed steel profile manufacturer advancing its strategic transition into high-growth clean energy sectors, today provided an update on its discussions regarding a proposed strategic investment in Xell Energy, Inc.( "Xell Energy"), formerly known as Sidus Energy Storage, Inc., an innovator in advanced battery manufacturing and energy storage solutions.
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