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 (NASDAQ: SPI) announced plans from its subsidiary, EdisonFuture, to launch a next-generation electric delivery van, enhancing its electric vehicle (EV) offerings. The EF1-V series van aims to serve last-mile delivery markets amid growing demand in e-commerce and groceries. With a unique solar charging feature and multiple cargo options, it promises to reduce carbon impact. The North American last-mile delivery market is projected to grow by USD 59.81 billion from 2021-2025, indicating strong market potential for this launch.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the appointment of Harry Payne as the new SVP of Consumer Business for its subsidiary, Solar4America. Payne, who has substantial experience in the renewable energy sector, previously held leadership roles at several notable companies, including SunRun and SunPower. His appointment is expected to enhance SPI's consumer operations and drive growth in solar and EV solutions. SPI Energy focuses on renewable energy solutions globally, with significant operations in North America and the Asia Pacific region.
SPI Energy Co., Ltd. (NASDAQ:SPI) has launched an Amazon store for its Solar4America brand, offering a range of off-grid solar products and portable power solutions. The products feature cutting-edge safety technology and faster power delivery. CEO Xiaofeng Peng emphasized the e-commerce platform's potential to enhance customer reach and service. With the recent acquisition of Solar4America, the company aims to expand its product portfolio and improve green energy solutions across key U.S. markets, leveraging its extensive installer network.
SPI Energy has announced the launch of its Zoomer 2 mode electric scooter through its subsidiary, RideZoomers. The new model features off-road tires and improved suspension, designed for various terrains. SPI aims to enhance customer service and product development, ensuring the availability of the Zoomer. The scooter reaches speeds of up to 30 mph with a range exceeding 30 miles on a single charge. SPI operates globally, focusing on renewable energy solutions and electric vehicles.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced an inventory expansion for its electric scooter subsidiary, RideZoomers, Inc., established as a scooter-sharing startup in 2019 and pivoted to a direct-to-consumer model in 2020. Following the acquisition in July 2021, SPI is focusing on enhancing customer service and product offerings. The electric scooter market is projected to grow to $644.5 billion by 2028, with a CAGR of 29.4%. New inventory includes multiple colors of scooters, featuring a 60v motor and a top speed of 30 mph.
SPI Energy has announced the filing of a design patent for a solar retractable roof in electric vehicles through its subsidiary. This innovative technology aims to enhance electric vehicle performance by enabling solar energy generation while the vehicle is in operation. The retractable roof will be integrated into the EF1-T electric pickup truck, with the North American EV market projected to grow significantly. However, the company's success in implementing this technology is contingent on obtaining the patent, raising capital, and forging development partnerships.
Phoenix Motorcars, a subsidiary of SPI Energy (NASDAQ: SPI), has surpassed the 3 million electric mile milestone with its fully electric trucks and shuttle buses. The company, which began delivering all-electric medium-duty vehicles in 2014, continues to innovate with a new third-generation drivetrain offering an industry-leading 160 miles electric range. The vehicles, built on the Ford E-450 chassis, support a diverse range of fleet customers. Phoenix Motorcars is also expanding into EV charging solutions and autonomous technology partnerships.
SPI Energy has announced that its subsidiary, Orange Power Inc., secured financing to complete a 718 kW solar carport project at the Hawaii Agricultural Research Center. Funded by East West Bank, the project aims to generate approximately 1,200 MWh annually, enough to power over 190 homes. The project is part of Hawaii's Clean Energy Initiative, which aims for a 100% renewable energy portfolio. SPI Energy views this as a significant investment opportunity in Hawaii, where it has additional 11.6 MW projects in late-stage development.
SPI Energy (NASDAQ:SPI) announced a long-term lease for its Phoenix Motorcars subsidiary's new facility in Anaheim, CA. This strategic location enhances access to EV supply partners and bolsters operations in California's growing EV market. The facility move is expected to support increased production and research & development to meet rising demand for electric vehicles. By 2035, California mandates all new cars sold must be zero-emission, aligning with SPI's commitment to clean energy solutions.
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