HONG KONG, July 16, 2026 /PRNewswire/ -- RedBox Storage ("RedBox"), a premier professional storage operator in Hong Kong, today announced the completion of a portfolio acquisition comprising 17 strata assets across the city. The transaction immediately doubles RedBox's self-storage network, bringing its total operating footprint to 16 locations across Hong Kong, and extends RedBox's presence into new submarkets, including Hung Hom, Shek Mun and Kwai Chung.
The acquisition increases RedBox's total portfolio gross floor area (GFA) by 25% to nearly 500,000 square feet. It also reflects RedBox's confidence in the long-term demand for professionally managed storage solutions in Hong Kong, supported by space constraints, dense urban living and the evolving needs of households and businesses. The remaining strata assets will undergo asset enhancement initiatives as part of RedBox's phased portfolio integration and growth strategy. Financial terms of the transaction were not disclosed.
Backed by leading global investment firm Brookfield, RedBox leverages institutional-grade real estate expertise to support long-term stability, disciplined asset management and operational excellence in a supply-constrained market.
"This expansion marks a significant milestone for RedBox and reinforces our long-term commitment to Hong Kong," said Benny Chung, Chief Executive Officer of RedBox Storage. "RedBox has an established and stabilised operating portfolio, which has continued to demonstrate resilient demand and consistent performance. Our customers have diverse storage requirements — from personal belongings to inventory for a growing business. With an expanded network and services spanning self-storage, managed warehouse space, and door-to-door valet storage, we are positioned to serve those needs as a one-stop-shop trusted provider."
About RedBox Storage
Acquired by Brookfield in 2022, RedBox Storage is a premier storage specialist in Hong Kong, providing flexible storage solutions for individuals and businesses. The company operates 16 locations across Hong Kong, with services spanning self-storage, managed warehouse space and door-to-door valet storage. With a focus on innovation, service quality and customer experience, RedBox helps customers make room for what matters most. For more information, visit www.redboxstorage.com.hk
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RedBox Storage Completes Portfolio Acquisition, Expanding Hong Kong Footprint with Doubled Operating Network
SHANGHAI, July 16, 2026 /PRNewswire/ -- At the 2026 Solar and Energy Storage Innovation Conference, LONGi officially announced that its independently developed crystalline silicon-perovskite tandem solar cell has achieved a conversion efficiency of 35.5%, certified by the European Solar Test Installation (ESTI), once again setting a new world record.
Crystalline silicon-perovskite tandem solar cells represent the mainstream technology route for next-generation ultra-high-efficiency solar cells, with a theoretical efficiency limit of up to 43% – far exceeding the Shockley–Queisser limit of 33.7% for single-junction cells. Through sustained technological breakthroughs, LONGi's tandem cell team lifted the efficiency to 33.9% in November 2023 and further to 34.6% in June 2024. In less than a year since then, the team has achieved a series of successive advances, moving from 34.85% to 35.2%, and now to 35.5%, clearly demonstrating the R&D strength and spirit of exploration at LONGi's Central Research Institute.
In May this year, LONGi's independently developed two-terminal crystalline silicon-perovskite tandem cell efficiency (35.2%) was included in the 68th edition of the Solar Cell Efficiency Tables published by the team led by Professor Martin Green at the University of New South Wales, Australia, marking a representative high-level achievement for this technology route at the time. Meanwhile, under conditions closer to industrial-scale dimensions, LONGi achieved conversion efficiencies of 34.3% (261 cm²) and 32.2% (274 cm²), highlighting the promising industrialization prospects of tandem technology. Furthermore, LONGi's tandem modules delivered conversion efficiencies of 31.4% and 29.4%, both independently certified by authoritative international institutions and included in the efficiency tables, further strengthening the foundation for moving crystalline silicon-perovskite tandem technology from the lab to industrial application.
Driven by its leading technological innovation capabilities, LONGi has established a tiered R&D system of "one generation in mass production, one in development, and one in reserve," continuously advancing technological breakthroughs and high-quality development in clean energy. Looking ahead, LONGi will remain focused on technological leadership, delivering iterative breakthroughs to contribute the innovative strength of a Chinese enterprise to the global energy transition.
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35.5%! LONGi Once Again Breaks World Record for Crystalline Silicon-Perovskite Tandem Solar Cell Efficiency
