Elong Power Reports H1 2026 Results and Completes Pivot to Energy Storage

Key Facts

1Elong Power announced unaudited financial results for the first half of fiscal year 2026 ended June 30, 2026.

2The company completed the divestment of its lithium battery manufacturing business to pivot to an asset-light energy storage system integration business.

3The company completed offerings with aggregate gross proceeds of approximately US$20 million to fund global energy storage expansion.

Elong Power Holding Limited announced its unaudited financial results for the first half of fiscal year 2026 ended June 30, 2026, according to a statement on GlobeNewswire. The company completed the divestment of its lithium battery manufacturing business to pivot to an asset-light energy storage system integration business model. Additionally, the firm raised aggregate gross proceeds of approximately $20 million to fund its global expansion in the energy storage market.

ELPW closed at $2.93 on October 5, 2026, with the stock trading between a low of $2.88 and a high of $3 during that session. These strategic moves reflect the company's restructuring efforts to secure liquidity and establish a footprint in the global energy storage sector.