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) will present at the M-Vest Virtual Conference Series on October 22, 2020, focusing on the electric vehicle (EV) sector. Chairman and CEO Xiaofeng Peng aims to discuss the company's EdisonFuture subsidiary, which targets the growing EV market. SPI Energy provides photovoltaic and EV solutions globally and is developing strategic opportunities in renewable energy and green industries. The company operates in multiple countries, including the U.S., U.K., Greece, Japan, and Italy.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced a strategic cooperation framework with Shaanxi Tongjia Automobile, a leading electric vehicle manufacturer in China. This partnership aims to design and produce smart electric pickup trucks and logistics vehicles, leveraging Tongjia's parts and support at SPI's Fresno assembly facility. EdisonFuture, a wholly-owned subsidiary of SPI, will be the exclusive distributor of Tongjia’s all-electric delivery trucks in North America. The collaboration targets the rapidly growing last-mile delivery market, emphasizing cost reduction and profit enhancement for logistics operators.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced that it has regained compliance with Nasdaq listing requirements. This follows a notification received on October 7, 2020, confirming that the Company's Market Value of Publicly Held Shares (MVPHS) met the minimum threshold of $15 million during the period from September 23 to October 6, 2020. With this compliance, SPI has successfully addressed the listing issue, allowing it to continue trading on the Nasdaq Global Select Market.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced an amendment to its convertible bond financing agreement with Magical Glaze Limited. The repayment terms involve US$6.6 million due by October 8, 2020, and US$13.4 million due by March 31, 2021, of a total principal amount of US$20 million. SPI Energy, a provider of photovoltaic (PV) solutions, operates globally and is involved in various green industries. The company emphasizes the importance of recognizing risks and uncertainties in forward-looking statements related to its business.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced that an exclusive interview featuring COO H.K. Cheong and Vice President Kevin White will air on The RedChip Money Report. The program reaches 100 million homes in Europe on Bloomberg International, airing Sundays at 6 p.m. local time. During the interview, they will discuss SPI's global solar operations and plans to spin out its Orange Power subsidiary. The segment aims to provide insights into SPI’s business strategies and market positioning in the photovoltaic solutions sector.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced a registered direct offering of 2,964,000 shares of common stock at $5.40 per share, totaling approximately $16.0 million. The transaction is set to close around October 2, 2020, pending customary closing conditions. This offering is made under an effective shelf registration statement filed with the SEC. Kingswood Capital Markets is the exclusive placement agent. SPI is focused on photovoltaic solutions, with global operations targeting green industries, including solar energy and electric vehicles.
SPI Energy has launched a new subsidiary, EdisonFuture, Inc., aimed at developing electric vehicles (EVs) and EV charging solutions. This initiative marks a significant milestone for the company, as CEO Xiaofeng Peng emphasized the value of a comprehensive approach in the renewable energy market, akin to Tesla's model. Located in Silicon Valley, EdisonFuture will enhance SPI Energy's existing photovoltaic solutions, which include solar and battery storage technologies. The global EV market saw over 2.1 million sales in 2019, indicating strong growth potential for SPI Energy's new venture.
SPI Energy has announced the approval of a spin-off for its subsidiary, SP Orange Power, through an initial public offering (IPO). This subsidiary operates as an independent power producer focused on European markets, boasting 43.12 megawatts of photovoltaic assets in Italy, Greece, and the UK. Kevin White, currently SPI's Vice President, will become the CEO of Orange Power post-spin-off. The company aims to unlock greater value from this strategic move, enhancing its growth trajectory in renewable energy sectors in both Europe and the US.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced plans to spin off its subsidiary, SP Orange Power, through an initial public offering. Orange Power, with 43.12 megawatts of photovoltaic assets across Italy, Greece, and the UK, aims to focus on European markets. Kevin White, currently a VP at SPI, will take on the role of CEO for Orange Power. The company believes this spin-off will unlock greater value and drive growth in renewable energy markets, both in Europe and America.
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