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 Jason Lally as the new VP of Sales and Franchise Development for its subsidiary, Solar4America. Lally, previously a senior director at Swell Energy and with a background at Tesla/SolarCity, will lead sales strategies during a key time for renewable energy in the U.S. Underpinning this leadership change is a significant push for solar capacity, with the U.S. expected to install over 324 GW of solar over the next decade. This strategic move aims to enhance consumer business and capitalize on growing solar demand.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its participation in the Q3 Virtual Investor Summit on August 17-18, 2021. Randolph Conone, SVP of Investor Relations and Finance, will present on August 18 at 1:15 PM ET and hold one-on-one investor meetings. Registration is required for the event, and an archived presentation will be available online. The Summit connects smallcap and microcap companies with over 800 qualified investors, providing a platform for networking and investment opportunities.
Phoenix Motorcars, a subsidiary of SPI Energy (NASDAQ: SPI), announced its participation in the Advanced Clean Transportation Expo from August 31 to September 1, 2021. The company will showcase its latest all-electric medium-duty vehicles and EV charging solutions at booth 1059. With over a decade of experience, Phoenix has driven more than 2.75 million electric miles. The U.S. EV infrastructure market is projected to grow at a CAGR of 38.9% through 2028. Phoenix Motorcars aims to support electrification efforts in transportation, leveraging initiatives from the U.S. government.
SPI Energy has appointed Randolph Conone as the new Senior Vice President of Investor Relations and Finance, effective July 16, 2021. With over 30 years of experience in finance and law, Conone previously served as a portfolio manager and investment banker. He aims to support SPI Energy's growth strategy in the solar and electric vehicle sectors. The company provides comprehensive renewable energy solutions globally and targets strategic investments in green industries. SPI's leadership change is part of its commitment to enhance shareholder value.
SPI Energy has announced the launch of its next-generation electric pickup truck, EF1-T, under its subsidiary EdisonFuture. This model, developed with Icona, features innovative solar mosaic technology that enables continuous battery charging. The standard EF1-T model offers 470 horsepower, while a 'Super' model boasts 816 horsepower. With the US pickup truck market reaching approximately 2.9 million sales in 2020, SPI aims to capitalize on the growing demand for electric vehicles. A new website, EdisonFuture.com, has also been launched to showcase this technology.
SPI Energy has announced that its subsidiary, EdisonFuture, has acquired the assets of Shared Technologies, expanding its footprint in the electric scooter market with RideZoomers.com. This move is aimed at capitalizing on a rapidly growing segment expected to reach $644.5 billion by 2028, with a CAGR of 29.4%.
The acquisition is timely, as RideZoomers has transitioned to a profitable direct-to-consumer model, featuring its premium all-electric Zoomer scooter.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced the appointment of Janet Jie Chen as the new Chief Financial Officer, effective immediately. Chen brings over 20 years of finance experience, including substantial expertise in auditing, mergers, and IPOs. Her role will involve overseeing the company's global finance and accounting operations. Concurrently, Chris Wang, the former SVP of Finance, has transitioned to become the CFO of the wholly owned Phoenix Motorcars to facilitate its planned spinoff and IPO. The management change aims to strengthen leadership and drive revenue growth.
SPI Energy Ltd. (NASDAQ:SPI) announced that its subsidiary, Phoenix Motorcars, has surpassed the 2.75 million electric miles milestone with its fully electric trucks and shuttle buses. The company, active in medium-duty electric vehicles since 2009, continues to innovate with its third-generation drivetrain, offering up to 160 miles of range. Phoenix serves over 45 fleet customers, providing customized electric vehicles for various applications. The company aims to enhance its autonomous technology and expand product offerings, reaffirming its commitment to sustainable transportation.
SPI Energy Ltd. (NASDAQ: SPI) announces the launch of a comprehensive range of electric vehicle (EV) charging products by its subsidiary, Phoenix Motorcars, aimed at the U.S. market. The new offerings include various residential and commercial EV chargers, with features like 24/7 network support and warranties. The global EV charging infrastructure market is projected to grow significantly, expected to reach $145 billion by 2028. This development aligns with the rising demand for EV infrastructure amid increasing EV adoption.
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