RITEK Group Transforms into Energy Industry; Subsidiary RiTWIN to Debut on Emerging Board
(January 9, 2025 – Central News Agency)
The RITEK Group is undergoing a strategic transformation into the energy sector, with its subsidiary RiTWIN, under Ritek Power Technology, scheduled to be listed on the Emerging Stock Board on January 15.
RiTWIN focuses on the medium- and large-scale energy storage market and has secured orders for UPS battery modules for semiconductor applications.
According to CEO Eric Yeh, the ongoing AI arms race has ignited an energy battle, and the energy storage industry is poised for a period of rapid growth.
RITEK Group stated that it has been active in the energy field for nearly two decades, evolving from thin-film solar module R&D to silicon-based solar module manufacturing and system integration. The group has also invested in Thick Power Energy, which now operates 70 MW of solar power plants.
Recognizing the pivotal role of energy storage as “the missing piece of the new energy puzzle,” RITEK has expanded its focus toward integrated renewable energy and storage systems.
Founded in 2019, RiTWIN specializes in developing medium- and large-scale energy storage systems. The company has obtained UPS battery module orders for semiconductor applications, expanded into low-power battery module production, and began shipping energy storage containers in 2023.
Through these initiatives, RiTWIN is building a comprehensive energy solutions ecosystem encompassing module manufacturing, container assembly, and system integration services.
RiTWIN reported nearly NT$2 billion in revenue in 2023. CEO Eric Yeh projected that as market demand accelerates, revenue from energy storage containers and related products will grow significantly, accounting for over 60% of total revenue and becoming the company’s main growth driver.
Energy storage systems — which integrate battery design, construction, and operation & maintenance (O&M) — are high-value, cross-disciplinary system integration businesses. These projects generally yield higher gross margins, positioning RiTWIN for stronger profitability going forward.
With the rise of artificial intelligence (AI) and applications for battery backup units (BBUs), Yeh noted that RiTWIN is actively expanding its technical capabilities and market presence in both UPS and energy storage systems.
He added that the company sees growing opportunities in electric vehicles, AI computing, robotics, and unmanned aerial systems (UAVs) — all of which are driving surging demand for advanced energy and storage products as the industry enters a high-growth phase.
