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 the launch of its new American-made 550W (M10) solar modules through its subsidiary, Solar4America, based in Sacramento, CA. This product targets the commercial and industrial markets, aiming to capitalize on the Inflation Reduction Act's benefits. Solar4America has increased its annual production capacity from 700MW to a planned 2.4GW in 2023. The Chairman expressed confidence in meeting growing demand for domestically produced solar products.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced that its subsidiary, Solar4America, will showcase American-made solar modules at the Community Solar Power Summit in San Diego on January 18-19, 2023. Solar4America produces innovative M10/182mm solar modules, being the first domestic manufacturer in the U.S. with a current capacity of 700MW, ramping up to 2.4GW this year. The event aims to advance community solar markets, with SPI's experts available to provide insights.
SPI Energy Co., Ltd. (NASDAQ: SPI) has commenced volume production of M10 solar modules at its Sacramento facility. This marks the first domestic production line for M10 modules in the U.S., adding 550MW manufacturing capacity. The new product line will offer 410W residential and 550W commercial modules, meeting the rising demand for American-made solar products. SPI's manufacturing capacity is projected to ramp up to 2.4GW in 2023. The facility aims to ensure high-quality, consistent supply for customers, enhancing domestic solar module offerings.
SPI Energy Co., Ltd. (NASDAQ: SPI) has announced that its solar manufacturing division, Solarjuice Technology, has secured two provisional patents for innovative devices aimed at enhancing solar module production. The first patent pertains to a rework apparatus that allows for the replacement of EVA, back sheets, and entire solar cell strings during manufacturing, resulting in quicker defect identification and repair. The second patent introduces a mechanism for replacing defective solar cells in a solar string before lamination, improving production efficiency. CEO Xiaofeng Peng emphasized the patents' potential to elevate solar manufacturing standards.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the completion of a private placement, issuing 1,150,000 ordinary shares to its Chief Operating Officer and LDK New Energy Holding Limited, affiliated with its CEO. The shares were sold at $1.01 each, totaling approximately $1.16 million. The private placement was finalized on December 22, 2022, and the purchasers are subject to a two-year lock-up period. This transaction was made without a public offering, adhering to Section 4(a)(2) of the Securities Act.
SPI Energy Co., Ltd. (NASDAQ:SPI) reported its Q3 2022 financial results on November 14, 2022, showing a 10.9% increase in net sales to $43.2 million year-over-year. The operating loss decreased to $13.8 million, down from $16 million in Q3 2021. The company recorded a net loss of $13.5 million or $0.48 per share, an improvement from $16.6 million or $0.69 per share in the same period last year. SPI's total assets stood at $224.2 million, with $6.1 million in cash as of September 30, 2022.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its subsidiary, Solar4America, will participate in the All Energy Australia Exhibition on October 26-27, 2022. The company aims to showcase American-made solar panels through its Australian unit, Solarjuice. The manufacturing facility currently produces 650MW and aims for 2.3GW capacity in 2023, with available residential and commercial modules. This event presents growth opportunities in the Australian market, expanding the company’s international presence and offering quality products to installers.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the registration of its solar wafer manufacturing business, SEM Wafertech Inc., aiming to meet the growing demand for locally sourced solar wafers in the U.S. The company plans to achieve an initial production capacity of 1.5GW by 2023, with a projected increase to 3.0GW by 2024. The Inflation Reduction Act incentivizes domestic production, offering $12 per square meter for solar wafers. SPI will showcase SEM Wafertech at the RE+ Solar conference from September 19-22.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the signing of a new lease for an adjacent facility to expand its Solar4America (S4A) module manufacturing operations in Sacramento, CA. This expansion will increase production capacity to 2.4GW in 2023, addressing the rising demand for its American-made solar modules. SPI also intends to further enhance capacity to 5.0GW by 2024 and is exploring the establishment of a 1.5GW wafer manufacturing facility in the U.S. The company will showcase its growth opportunities at the RE+ Solar conference on September 19-22.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the appointment of Franz Feuerherdt as VP of Sales & Marketing for its solar division, Solarjuice Technology Inc. This strategic hire comes as the company anticipates significant growth in the PV module industry. Feuerherdt brings over 15 years of experience, previously serving as National Sales Director at Mission Solar Energy. The company's focus on US manufacturing positions it favorably in light of new federal policies promoting domestic solar products.
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