March 13, 2025 – Sino-American Silicon Products Inc. (SAS) (5483) announced today (March 13) that as the largest corporate shareholder of Billion Electric (3027), Pedersen Chen (Cheng-Chien Chen), SAS’s legal representative and president, will assume the role of chairman of Billion Electric and its subsidiary, Billion Watts Technologies. This appointment has been approved by Billion Electric’s board of directors and will take effect on March 13. The former chairman, Tim Chen (Chung-Ting Chen), will officially retire and step down from his position.
Since March 2023, SAS has been the largest corporate shareholder of Billion Electric Co., Ltd., currently holding a 12.98% stake, and has actively engaged in corporate governance and strengthened strategic cooperation between the two companies. The newly appointed chairman of Billion Electric and Billion Watts Technologies, Pedersen Chen, brings extensive experience in international finance and management. He previously served as Executive Director, Senior Partner, and Head of Audit Operations at KPMG Taiwan and participated in multinational projects across the renewable energy, semiconductor, and Information and Communication Technology industries. Additionally, he possesses deep expertise in financial regulations and corporate mergers and acquisitions, with a strong understanding of global fundraising in capital markets and corporate risk management. SAS will leverage its expertise in renewable energy along with Pedersen Chen’s distinguished expertise and global vision to jointly explore more possibilities for business development and collaboration, creating greater opportunities for future growth.
To achieve the 2050 net-zero target, COP29 announced at the end of 2024 that the global energy storage installation target for 2030 will reach 1,500 GW, a sixfold increase from 2022, highlighting the crucial role of energy storage in the global energy transition. In response to international trends, Taiwan government is accelerating energy storage development by enhancing incentives, strengthening fire safety regulations, and expanding installation space. SAS has been deeply involved in the renewable energy industry, actively implementing vertical integration by expanding into downstream power plant operation & maintenance and green electricity sales. The company has also invested in Billion Electric to strengthen its presence in the energy storage sector. Billion Electric focuses on an integrated “solar, charging, and storage” solution, combining solar power, energy storage, electric vehicle, and smart energy management. With a proven track record, Billion Electric has established a leading market position. Moving forward, SAS and Billion Electric are poised to unlock new possibilities for business growth and collaboration, paving the way for a future filled with greater opportunities.
Upholding the core values of integrity, professionalism, teamwork, and innovation, SAS remains committed to corporate governance. Moving forward, SAS will leverage its governance expertise and sustainability strategies to collaborate with Billion Electric in strengthening the functions of the Board of Directors, optimizing governance, and ensuring steady growth in a rapidly changing market, laying a solid foundation for sustainable development.