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) has announced the launch of its S4A-Hybrid Battery System through its subsidiary, Solar4America. This UL-certified residential battery storage solution features advanced technologies, providing up to 8.6-kilowatt max output and intelligent energy management. CEO Xiaofeng Peng highlighted expectations for strong sales in the U.S. based on successful Australian market performance. The global battery energy storage market is projected to grow to $19.7 billion by 2027 at a 20.4% CAGR.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC. The report includes audited consolidated financial statements and is accessible on the SEC's website. SPI Energy is a global player in renewable energy, focusing on solar storage and EV solutions across various sectors. The company aims to leverage its expertise in green industries and seeks strategic investments in areas like battery storage and charging stations.
SPI Energy Co., Ltd. reported a 42% increase in net sales for 2020, totaling $138.6 million, compared to $97.9 million in 2019. Gross margins improved to 12.2% from 7.3%, while operating income rose to $0.1 million, up from a $19.2 million loss. The company's net loss improved to $6.5 million from $15.3 million year-over-year. SPI Energy reaffirmed its revenue guidance for 2021, projecting between $200 million and $240 million. The company will discuss its financial results on a conference call scheduled for May 3, 2021.
SPI Energy Co., Ltd. announced the appointment of Ron Iacobelli as the new Chief Technology Officer, effective April 26, 2021. Iacobelli brings over 30 years of experience in advanced automotive technology, including significant expertise in electrification and the electric vehicle (EV) sector. His prior roles include leadership positions at major companies and startups, playing a key part in developing hybrid and electric vehicles. This leadership change aims to enhance the company's capabilities in EV innovation and strengthen its position in the renewable energy market.
SPI Energy Co., Ltd. (NASDAQ:SPI) will host a conference call on May 3, 2021, at 4:15 p.m. ET to discuss its operational and financial highlights for the fiscal year ending December 31, 2020. The call will cover key financial metrics, including earnings and revenue results. Investors can access a replay until May 17, 2021. The company, based in Santa Clara, CA, focuses on renewable energy and offers solar storage solutions and electric vehicle services globally.
SPI Energy has appointed Chad Pricolo as the Senior Vice President of Consumer Operations for its subsidiary, Solar American Inc., effective immediately. Pricolo brings over 13 years of experience in the solar industry, previously serving as Director of Northern California Solar Operations for Semper Solaris and holding various leadership positions at PetersenDean. The company aims to enhance its sales and marketing initiatives under his leadership. The U.S. solar market shows strong growth, having installed a record 19.2 GW in 2020, setting the stage for SPI's expansion plans.
SPI Energy Co., Ltd. (NASDAQ: SPI) has launched the S4A-360 module through its subsidiary Solar4America, targeting the US residential market. This new solar module utilizes PERC cell technology, offering improved efficiency and reduced hot spot risks. The S4A-360 boasts a 360W capacity, designed for durability in various environmental conditions. In anticipation of high demand, SPI is stocking these modules in distribution centers across California and Florida. As solar energy's market share is projected to grow rapidly, SPI aims to capitalize on this trend with innovative products.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced that its subsidiary SolarJuice will host an annual portfolio night on April 20, 2021, broadcasted globally on Facebook at 6:30 p.m. Australian Eastern Standard Time. The event will feature presentations from leading suppliers like Tesla Energy and Hyundai Energy, showcasing SolarJuice's innovative solar products. CEO Xiaofeng Peng emphasized SolarJuice's leadership in the Australian market and its global solution for solar systems.
The event aims to enhance public awareness of SolarJuice's offerings.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the acquisition of a 6.5 MW solar photovoltaic and 5.45 MWh energy storage project in Massachusetts through its subsidiary SPI Solar, Inc. This project, which aligns with Massachusetts' SMART program, will enable community solar subscriptions for national grid customers and is expected to be operational in 2022. The acquisition expands SPI's renewable energy offerings and solidifies its presence in the U.S. market, alongside existing projects in Oregon.
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