Welcome to our dedicated page for SPI Energy Co., Ltd. Ordinary Shares news (Ticker: SPI), a resource for investors and traders seeking the latest updates and insights on SPI Energy Co., Ltd. Ordinary Shares stock.
SPI Energy Co., Ltd. (NASDAQ:SPI) is a dynamic and globally recognized renewable energy company. Founded in 2006 in Roseville, California, and headquartered in McClellan Park, California, SPI Energy specializes in providing comprehensive solar, storage, and electric vehicle (EV) solutions. The company's operations span across North America, Australia, Asia, and Europe, making it a significant player in the renewable energy sector.
SPI Energy operates through three core divisions: SolarJuice, SPI Solar, and Phoenix Motor. SolarJuice excels in solar wholesale distribution in Australia, residential solar and roofing installations, and solar module manufacturing under the Solar4America brand. This division has a robust presence in the Asia Pacific and North America markets. SPI Solar and Orange Power manage commercial and utility solar projects, offering a full range of EPC services to third-party project developers. Phoenix Motor focuses on medium-duty commercial electric vehicles and is actively developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.
The company has made significant strides in the solar module manufacturing sector. Its Solar4America division, based in Sacramento, California, has become a leading domestic producer of solar modules, producing 410W modules for residential markets and 550W modules for commercial and industrial markets. The division is expanding with a new manufacturing facility in Sumter, South Carolina, anticipated to enhance production capacity to 2.4GW by 2024.
Recently, SPI Energy announced the sale of 12 million shares of its subsidiary, Phoenix Motor Inc., reducing its ownership stake to 25.83%. This strategic divestment aims to improve the company's financial performance by eliminating the net losses of Phoenix Motor from SPI's financial statements. Additionally, SPI issued a $2.2 million 5% Convertible Promissory Note to Palo Alto Clean Tech Holding Limited, demonstrating confidence in its future market value and strengthening its financial foundation.
SPI Energy continues to explore investment opportunities in fast-growing green energy sectors such as battery storage, charging stations, and other EV technologies. The company's commitment to innovation and strategic growth positions it well in the competitive renewable energy landscape.
For the latest information, investors and stakeholders are encouraged to refer to the company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or www.sec.gov.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the appointment of Tony Zhou as Senior Vice President of Autonomous Driving at its Phoenix Motorcars subsidiary. With over 20 years of experience at major OEMs, including his role as President at FAW US Research & Development, Zhou specializes in autonomous driving systems. His expertise is expected to enhance the development of next-generation technology for SPI's electric vehicles. This strategic move aims to strengthen SPI's position in the growing EV market and improve the company's product offerings.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the issuance of a $4.21 million 10% convertible promissory note to Streeterville Capital, LLC on November 12, 2021. This note, approved by the company's board, matures on November 11, 2022, and can be converted into SPI's ordinary shares at a price of $20.00 per share. The issuance was conducted as a private placement under Regulation D of the Securities Act of 1933. SPI Energy, headquartered in Santa Clara, CA, specializes in renewable energy solutions, including solar storage and electric vehicles.
SPI Energy reported a revenue increase of 41% to $79.4 million for the first half of 2021, compared to $56.4 million in 2020. Gross profit surged 134% to $7.4 million. As of June 30, 2021, cash and equivalents stood at $22.8 million, while shareholders' equity rose to $47.6 million. The company's Chairman expressed optimism about growth opportunities in solar operations and electric vehicle production. SPI operates across various segments, including residential solar and commercial EV solutions.
SPI Energy announced its relocation of corporate headquarters from Hong Kong to Santa Clara, California, aiming to bolster its U.S. solar operations and electric vehicle (EV) segment. This strategic move leverages California's leadership in renewable energy and aligns with state mandates for renewable generation. Founded in 2006, SPI holds a prominent position in the solar and EV markets, with divisions focusing on residential solar, large-scale projects, and commercial electric vehicles. The company is also seeking growth in battery storage and charging stations.
SPI Energy announces the debut of its next-generation electric pickup truck, EF1-T, at the LA Auto Show from November 19-28. The truck, featuring solar mosaic technology, can generate up to 600kW power. SPI will begin accepting reservations during the event. The EF1-V utility van will also be showcased, offering flexible configurations and substantial cargo capacity. The demand for electric pickups is high, with a significant portion of consumers considering electric options. The global last-mile delivery market is projected to grow substantially, further driving demand for such vehicles.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced on September 30, 2021 that it issued a $4.21 million 10% convertible promissory note to Streeterville Capital, LLC. The note, which was approved by the company's board, has a maturity date of September 29, 2022 and can be converted into ordinary shares at a conversion price of $20.00 per share. This financing was conducted under Regulation D of the Securities Act of 1933.
The company operates in renewable energy, focusing on solar storage and electric vehicle solutions across multiple markets worldwide.
SPI Energy announced the launch of a new Amazon Store by its subsidiary, RideZoomers, to enhance sales of its Zoomer electric scooters. After acquiring RideZoomers in July 2021, initiatives to strengthen customer service and inventory management have been implemented, aiming for accelerated growth. The electric scooter market is projected to reach $644.5 billion by 2028, with a CAGR of 29.4%. The Zoomer model offers impressive specs, including a top speed of 30mph and over 30 miles on a single charge.
SPI Energy Co., Ltd. announced the launch of its new line of electric forklifts through its subsidiary, Phoenix Motorcars, with sales now underway and deliveries expected to start in Q4 2021. These forklifts utilize advanced lithium-ion batteries, offering improved efficiency, reduced maintenance costs, and a total cost of ownership estimated at less than 50% of traditional models. The forklifts come with warranties of up to 10 years or 20,000 hours and are available in two configurations. The global forklift market is projected to reach $19.1 billion by 2026.
SPI Energy has announced that its subsidiary, SolarJuice, received a significant volume order for Solar4America solar products from a major home improvement retailer with over 300 U.S. locations. The orders are expected to be delivered in early 2022, marking a crucial milestone for SolarJuice and the Solar4America brand. This development aims to expand the company's customer base and increase interest in its solar products. SPI Energy operates globally, focusing on renewable energy and EV solutions across multiple regions.
SPI Energy Co., Ltd. (SPI) announced the participation of its subsidiary Phoenix Motorcars at DrayTECH 2021 on September 10, 2021, in Long Beach, California. The event focused on freight technology and logistics solutions for the drayage and port industry. Phoenix Motorcars showcased its ZEUS 600 all-electric box truck, highlighting features that include a range of up to 160 miles and customizable options for various delivery needs. The company aims to facilitate cleaner transportation solutions in the logistics sector.
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