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 Ltd. (NASDAQ:SPI) announces the appointment of Ira Feintuch as SVP & Global Head of EV Charging Solutions for its subsidiary, Phoenix Motorcars. Feintuch, former COO of Blink Charging, brings extensive experience in EV infrastructure. Under his leadership, Phoenix aims to scale its EV charging solutions, capitalizing on a growing market expected to reach $145 billion by 2028. CEO Joe Mitchell expresses confidence in Feintuch's ability to enhance market solutions. This strategic move aligns with SPI's focus on renewable energy and EV solutions.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the issuance of a $4.21 million convertible promissory note with an interest rate of 10% to Streeterville Capital, LLC on June 9, 2021. The note is convertible into ordinary shares at a price of $20.00 per share and matures on May 8, 2022. This financing was conducted under Regulation D of the Securities Act of 1933. SPI focuses on renewable energy solutions, offering solar storage and EV solutions globally, and is expanding into green industries such as battery storage and charging stations.
Phoenix Motorcars, a subsidiary of SPI Energy (NASDAQ: SPI), has commenced production of its third-generation electric vehicle drivetrains at its Ontario, CA facility. This new generation features the largest battery pack and longest range in class 4 vehicles, with customizable configurations ranging from 63 to 156kWh. The company, with over 2.3 million electric miles driven and 45 fleet customers, aims to serve a diverse market including municipalities and corporate campuses. CEO Joe Mitchell emphasizes the confidence in offering best-in-class vehicle options for commercial electrification.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced the launch of Apollo, a cloud-based monitoring and maintenance system for solar energy solutions through its subsidiary Solar4America. Apollo enhances customer experience by analyzing data from solar systems, enabling remote diagnostics and optimizing energy consumption. This new service aims to boost sales growth and differentiate Solar4America in a competitive market. With the US solar industry projected to quadruple capacity to over 324 GW in the next decade, SPI is well-positioned to benefit from this growth.
SPI Energy announced the appointment of Dr. Dallas W. Meyer as the new Chief Technology Officer for its subsidiary Solar4America. Dr. Meyer is recognized for his extensive experience in the solar industry and has previously held senior roles at various tech companies. This strategic hire aims to enhance technology development at Solar4America, which is a notable player in the U.S. solar and roofing market. The U.S. solar industry shows promising growth, with an expectation of significant capacity installations over the next decade.
SPI Energy Co., Ltd. (NASDAQ: SPI) has appointed Ning "Clare" Cai as CFO of its subsidiary, SolarJuice Co., Ltd., effective immediately. Ms. Cai brings 24 years of experience in corporate finance and investment banking, having previously served as CFO at Synutra and controller at Trina Solar. Her expertise is expected to enhance SolarJuice's spinoff IPO process. The appointment aligns with SPI's strategic direction as it aims to expand its footprint in renewable energy and solar solutions.
SPI Energy Ltd. (NASDAQ:SPI) announced that its subsidiary, Phoenix Motorcars, is a finalist in the AI & Data category of Fast Company’s 2021 World Changing Ideas Awards for its autonomous shuttle, EZ ZEUS.
This first-of-its-kind all-electric self-driving shuttle integrates advanced driverless technology and is aimed at enhancing transit operations. The recognition highlights innovations in addressing climate crises and social issues, with more than 4,000 nominees considered. CEO Joe Mitchell expressed pride in the team’s commitment to sustainable transportation solutions.
SPI Energy has announced the launch of an 80kWh outdoor energy storage cabinet by its subsidiary, Solar4America. The unit boasts a standard configuration of 30kW/80kWh with high efficiency and modular design, suitable for the growing commercial and industrial market. The segment is projected to reach 3.3 gigawatts by 2023, indicating significant growth potential. SPI aims to capitalize on this demand for backup power and resiliency solutions, with the launch marking a key milestone in their strategy.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its participation in the Q2 Virtual Investor Summit on May 17, 2021, at 11:45 a.m. Eastern Time. The company, specializing in renewable energy and solar storage and EV solutions, is set to share insights on its record revenue generated in 2020, with a revenue forecast between $200 million and $240 million for 2021. SPI is well-positioned with strong cash flow from recent offerings to accelerate growth across multiple segments.
For further details, visit www.SPIgroups.com.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced that its subsidiary, SolarJuice, will showcase its latest solar solutions at the Smart Energy Conference 2021 in Australia on May 12-13. This event marks SolarJuice's first in-person expo since the pandemic began. The global solar market, valued at $52.5 billion in 2018, is expected to reach $223.3 billion by 2026, reflecting a CAGR of 20.5%. SolarJuice aims to enhance customer interactions and networking opportunities at the conference.
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