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. has appointed William Chen as the new COO of SolarJuice, effective immediately. With over 20 years of experience, Chen previously led Galkos Construction, a major player in the residential solar sector. His leadership is expected to strengthen the company's operational capabilities and drive sales growth in the rapidly expanding renewable energy market. Chairman Xiaofeng Peng expressed confidence in Chen's ability to enhance SolarJuice's positioning in North America and Asia Pacific.
SPI Energy reported a 14.6% increase in Q1 revenue to $38.5 million compared to Q1 2021. Gross margins rose to 7.02%, and operating losses narrowed to $7 million, a 17.8% decline from the previous year. The company maintains a positive outlook, projecting full-year revenue between $200 million and $220 million. Key business developments include the launch of ‘Made-in-USA’ solar modules and expansions in solar production capacity, alongside growth in its EV segment.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced a conference call scheduled for May 16, 2022, at 4:30 p.m. ET, to discuss its Q1 2022 financial results and operational highlights. The call will provide insights into the company's performance for the first quarter ending March 31, 2022. Participants can join via a toll-free number and a replay will be available until May 30, 2022. The company, headquartered in Sacramento, CA, focuses on renewable energy solutions, including solar storage and electric vehicles.
SPI Energy has announced the relocation of its global headquarters to Sacramento, California, enhancing its US solar module manufacturing strategy. The move aims to capitalize on the growing demand for renewable energy solutions amidst California's ambitious targets for renewable electricity generation. CEO Xiaofeng Denton Peng emphasized the strategic advantage of this relocation in supporting operational synergies and increased production capacity. The company continues to focus on its three divisions: SolarJuice, commercial & utility solar, and EV solutions.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced a significant milestone with its subsidiary, SolarJuice, signing a 2GW supply agreement with Sungrow, a leading inverter solutions supplier. This contract, the largest of its kind in the Australian solar market, includes PV inverters, storage systems, batteries, and accessories. The agreement was unveiled during the Smart Energy Conference & Exhibition on May 6, 2022. This partnership is expected to address the growing demand from residential and commercial customers in Australia.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced that its subsidiary SolarJuice American Inc. will showcase a range of solar and renewable energy products at the RE+ Southeast trade show in Atlanta on May 11-12, 2022. With increasing demand for solar products in the U.S., particularly those made domestically, Solar4America plans to highlight its inventory, including various solar panels and residential energy storage systems. The production capacity for solar panels is expected to ramp up to 1.1GW by the end of 2022 at its Sacramento facility.
SPI Energy Ltd. (NASDAQ:SPI) announced that its subsidiary Phoenix Motorcars will participate in the Advanced Clean Transportation Expo from May 9 to 12 in Long Beach, CA. The event will showcase various electric mobility solutions, including an all-electric shuttle bus, solar charging pickup truck, and lithium-ion forklifts. Phoenix Motorcars aims to highlight its innovative medium-duty electric vehicles, which cater to various commercial markets. The company continues to expand its offerings, reflecting its commitment to renewable energy and electric vehicle technology.
SPI Energy Co., Ltd. announced that an interview featuring Randy Conone, SVP of Investor Relations and Finance, will air on The RedChip Money Report on Bloomberg TV on April 30 at 7 p.m. ET. This program targets small-cap investors and reaches around 73 million homes in the U.S. SPI Energy, a global renewable energy company, offers solar and EV solutions through its divisions SolarJuice, SPI Solar, Orange Power, and Phoenix Motor. The firm operates in North America, Asia, and Europe, focusing on solar projects and EV market growth.
SPI Energy has announced that its manufacturing division, Solarjuice Technology Inc., is now taking reservations for production capacity at its Sacramento facility. The company has filed two provisional patents aimed at enhancing solar module manufacturing through machine learning and automation. The Sacramento plant, which was leased in December 2021, aims to expand its capacity to 1.1GW by the end of 2022. Given the anticipated shortage of solar panels in the US, this move is set to accelerate deliveries. The company also offers various solar panel products and energy storage systems.
SPI Energy (NASDAQ: SPI) announced its SolarJuice subsidiary will showcase new products at the Smart Energy Conference & Exhibition 2022 in Australia on May 4-5, 2022. This event is aimed at expanding their market presence and accelerating sales, with key products displayed alongside top brands like Tesla and Trina Solar. The global solar market is projected to grow significantly, from $184 billion in 2021 to $293 billion by 2028, highlighting opportunities for SPI Energy in a booming industry.
FAQ
What is the current stock price of SPI Energy Co., Ltd. Ordinary Shares (SPI)?
What is the market cap of SPI Energy Co., Ltd. Ordinary Shares (SPI)?
What services does SPI Energy Co., Ltd. provide?
Where is SPI Energy headquartered?
What are the core divisions of SPI Energy?
What recent strategic move did SPI Energy make regarding Phoenix Motor Inc.?
What is Solar4America?
What was the purpose of SPI Energy's $2.2 million Convertible Promissory Note?
What are SPI Energy's geographical segments?
What are SPI Energy's plans for manufacturing expansion?
How can investors stay updated on SPI Energy's progress?
What recent product developments has Solar4America introduced?
