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 that its subsidiary, Solar4America Technology, will participate in the Midwest Solar Expo from May 1-3, 2023. Solar4America will showcase its American-made solar modules, including innovative 410W residential panels and 550W bifacial modules for commercial use. The company, recognized as the first major domestic manufacturer of 550W solar modules in the U.S., has a current production capacity of 700MW annually, which is expected to ramp up to 2.4GW in 2023. The expo aims to promote clean energy deployment, attracting over 450 industry players. SPI Energy operates globally in renewable energy and is focused on solar, storage, and EV solutions.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the opening of a new facility in South Carolina to enhance production capacities for solar wafers and modules. This expansion will enable SEM Wafertech to reach a capacity of 3.0 gigawatts for silicon wafers and Solar4America to produce 2.4 gigawatts of solar modules by the end of 2023. The move is part of SPI's strategy to bolster domestic manufacturing in response to increasing solar energy demand in the U.S. The $65.9 million investment is expected to create 300 new jobs and will commence operations in the fourth quarter of 2023.
Both subsidiaries aim to supply locally produced solar materials for various energy generation applications, thereby enhancing SPI's role in the renewable energy sector.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its participation in the 2023 Money Show, taking place from April 24-26, 2023 in Las Vegas at booth number 215. The company’s Chairman and CEO, Xiaofeng Denton Peng, highlighted SPI's continued growth trajectory in 2022, driven by its solar module and wafer manufacturing divisions. With the Inflation Reduction Act of 2022, SPI's California manufacturing operations will receive $0.07 per watt for solar modules produced, enhancing profitability prospects. The company aims to capitalize on opportunities in the renewables sector, focusing on solar manufacturing, battery storage, and electric vehicles. SPI operates globally, with a strong presence in North America, Asia, and Europe, and seeks strategic investments in green energy industries that align with its expertise.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its participation in SolarCon 2023 held in Salt Lake City, UT from April 19-22. The company's subsidiary, Solar4America Technology, will showcase its premium 410W all-black solar modules designed for residential markets. With a manufacturing capacity ramping from 700MW to 2.4GW in 2023, Solar4America aims to meet national demand from its Sacramento facility. The event focuses exclusively on the solar industry, bringing together various stakeholders interested in enhancing solar sales and installations. SPI operates globally, with divisions in solar distribution, commercial and utility solar projects, and electric vehicles.
SPI Energy Co., Ltd. (NASDAQ: SPI) reaffirmed its 2023 guidance of $250 million to $300 million in revenues and $29 million to $36 million in net profit, showing confidence in its operational growth. The company reported a 9.6% increase in fiscal year 2022 net sales, totaling $177.5 million, while reducing its net loss to $33.4 million from $45.5 million in 2021. SPI has strong earnings potential, aiming for EBITDA-positive and net profitability in 2023, bolstered by recent legislative incentives from the Inflation Reduction Act. Key developments include securing land for new solar projects and progressing in American solar module manufacturing, indicated by profitable operations starting in Q4 2022. A conference call to discuss these results is scheduled for April 18, 2023.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its participation in the RE+ Texas solar expo on April 5-6, 2023, showcasing its American-made solar modules. The company’s subsidiary, Solar4America Technology, will highlight its 410W all-black residential modules and 550W bifacial modules for commercial and utility applications. Solar4America boasts production capabilities of approximately 700 MW annually, with an increase to 2.4 GW expected in 2023. The company emphasizes its leadership as the first major U.S. manufacturer to produce 550W modules using M10 cell technology, reinforcing its commitment to enhancing the renewable energy sector.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its participation in the NY Energy Summit in Albany, NY from April 4-6, 2023, through its subsidiary, Solar4America Technology. The company will showcase American-made solar modules including 410W modules for residential markets and 550W modules for commercial and industrial (C&I) sectors. SPI's manufacturing facility in Sacramento has a current capacity of approximately 700MW, set to ramp up to 2.4GW in 2023. Key industry stakeholders will discuss New York's ambitious CES goals and the impact of federal legislation during the summit.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its participation in the RE+ Northern California conference on March 28-29, 2023, at the SAFE Credit Union Convention Center in Sacramento. The company's subsidiary, Solar4America Technology, will showcase its 410W residential solar module and 550W bifacial solar module during the event. Solar4America's Sacramento factory currently produces 700 MW annually, with plans to ramp this capacity up to 2.4 GW within the year. The conference is the largest forum for solar and renewable energy integration professionals in the region.
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