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) announces the appointment of Edmund Shen as Vice President of Product Management and Supply Chain for its subsidiary, Phoenix Motorcars. Shen brings extensive experience from Tesla, where he led notable EV projects. His previous roles include senior positions at SERES EV and leading semiconductor firms. This strategic hire is expected to enhance product development and market positioning for Phoenix Motorcars in the growing electric vehicle sector, aimed at commercial markets with a focus on clean transportation.
SPI Energy Ltd. (NASDAQ:SPI) has partnered with Icona Design to create a new line of all-electric vehicles, including advanced pickup trucks and last-mile delivery vans. This collaboration aims to integrate innovative designs and technologies, focusing on energy efficiency and human-centered transportation. The new vehicle prototypes will debut at major auto shows in 2021. SPI Energy is firmly positioned in the renewable energy market, with a robust portfolio in solar storage and electric vehicle solutions, while Icona brings extensive expertise in automotive design.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced its 2021 revenue guidance of $200M to $240M, focusing on solar storage and electric vehicle (EV) solutions. The company reported a strong performance in 2020, with solar panel sales increasing 50% to 150MW and battery storage sales rising 326% to 33.4MWh. Major milestones include fundraising of $53 million and the establishment of the EV subsidiary, EdisonFuture, which acquired Phoenix Motorcars. SPI regained compliance with Nasdaq requirements and plans to spin off subsidiaries in an IPO.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its acquisition of consumer contracts from Petersen-Dean, Inc., a leading US roofing and solar company, which could save thousands of jobs after Petersen-Dean's Chapter 11 filing. Petersen-Dean generated $300-$400 million in annual sales before the pandemic. The acquisition aligns with SPI's goal to enhance its presence in the US renewable energy market and improve services for residential customers. Following COVID-19 challenges, this strategic move is aimed at fostering growth and expanding opportunities in the rapidly evolving solar market.
Edward Monfort has been appointed as Senior Vice President of Phoenix Motorcars, a subsidiary of SPI Energy (NASDAQ:SPI). He brings extensive experience in the electrical and automotive industries, having generated over $100 million in sales through his inventions. Monfort will lead the introduction of his innovative technologies, Smart Plate and Smart Battery, aimed at enhancing electric vehicle conversions and battery management, respectively. This strategic move is expected to boost Phoenix Motorcars' capabilities in the competitive EV market.
SPI Energy Ltd. (NASDAQ: SPI) announced a partnership between its subsidiary, Phoenix Motorcars, and EasyMile to develop zero-emission trucks and autonomous shuttle buses. The pilot program will feature the Class 4 EZ ZEUS, with plans to serve the Houston Metro's Third Ward community. This initiative benefits from funding through the Federal Transit Administration's AIM grant. The collaboration aims to enhance safety and efficiency in public transit, leveraging EasyMile's driverless technology to meet increasing demand for autonomous solutions post-COVID.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced that an interview featuring Tarek Helou, COO of its subsidiary Phoenix Motorcars, will air on The RedChip Money Report on Bloomberg International. The interview discusses Phoenix Motorcars' strong market position, major clients, and growth plans. Additionally, SPI Energy focuses on providing renewable energy solutions and plans to expand into green industries such as battery storage. The company aims to leverage its cash flow from solar projects for further development.
SPI Energy Co., Ltd. (NASDAQ:SPI) will present at the 13th annual LD Micro Main Event on December 14, 2020, at 11:20 am PST. The presentation will be led by Chris Wang, SVP Finance, and Tarek Helou, COO of Phoenix Motorcars. This year, the event features a new format with 10-minute presentations followed by Q&A. The conference will be hosted on the Sequire Virtual Events platform. SPI Energy specializes in renewable energy solutions, including photovoltaic systems and electric vehicles, aiming to expand into battery storage and green industries.
SPI Energy Co., Ltd. (NASDAQ: SPI) has completed a registered direct offering, closing on December 7, 2020, for about 3.5 million ordinary shares and corresponding warrants, generating gross proceeds of approximately $35 million. Each share and warrant was priced at $10.02, with warrants exercisable at $10.50 and expiring in five years. The offering was facilitated by Maxim Group LLC, with co-placement agents including Roth Capital Partners and Kingswood Capital Markets. SPI aims to utilize the proceeds for its renewable energy initiatives, enhancing its market position.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced a registered direct offering of approximately $35 million worth of ordinary shares and warrants. The company will sell around 3.5 million ordinary shares alongside warrants for the same amount, priced at $10.02 each. The warrants, with an exercise price of $10.50, are exercisable immediately and will expire in 5 years. The offering is expected to close on or about December 7, 2020, subject to customary conditions. Maxim Group LLC serves as the lead placement agent.
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