KuangChi Science invests $17 million in Solar Ship

1 minute read
01 May 2015

On May 29, 2015, KuangChi Science Ltd. (SEHK: 439) completed its investment of $17 million in Solar Ship Inc. for a 32.58% interest in the company.

KuangChi is a Hong Kong-listed investment holding company which is principally engaged in novel space services and other innovative technology businesses.

Solar Ship, based in Toronto, Ontario, builds aircraft to service remote areas. The Solar Ship is a hybrid aircraft, gaining lift from both buoyant gas and aerodynamics. Its wing-ship design allows for short take-off and landing, in areas as small as a soccer field. Its design also provides a large surface area for solar electric power, allowing long, self-sufficient range.

The firm advised Solar Ship in this transaction with a team that included Kathleen Ritchie, Cynthia Elderkin, Danielle Mulaire and Julien Bourgeois (corporate/M&A), Ian Macdonald (Investment Canada), Carole Chouinard (tax), Stuart Ash and Matthew Roy (IP).

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