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 announced its subsidiary SolarJuice American Inc. will showcase solar products at the RE+ Texas Solar & Energy Storage trade show on April 21-22, 2022. SolarJuice, a leading solar panel manufacturer in the U.S., is ramping up production capacity to 1.1GW by year-end 2022. The products include various solar panels and fully financed energy storage systems. The move aims to ensure stable supplies amid global logistics challenges. SPI focuses on providing sustainable energy solutions and highlights the importance of American-made products in renewable energy.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the issuance of a $2.11 million 10% convertible promissory note to Streeterville Capital, LLC on April 8, 2022. The note, approved by the board, carries a 10% annual interest and matures on April 7, 2023. It can be converted into SPI ordinary shares at $20.00 per share. This private placement complies with Regulation D under the Securities Act. SPI operates in renewable energy, focusing on solar and EV solutions, with strategic investments in battery storage and charging stations.
SPI Energy Ltd. (NASDAQ: SPI) has announced that its subsidiary, Phoenix Motorcars, has begun deliveries of lithium-ion powered electric forklifts, with the first 15 units delivered to a major logistics provider in Southern California. These forklifts, which feature a capacity of 5,000 lbs., are designed for enhanced efficiency and come with long-lasting, maintenance-free battery packs. The company aims to expand its offerings in the material handling sector as demand increases throughout 2022 and beyond.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its 2021 financial results, reporting a 16.9% increase in net sales to $162 million. The company's total assets rose to $228.8 million. For 2022, SPI expects revenues between $200 million and $220 million, driven by growth in residential solar and electric vehicle sales. Notable achievements in 2021 included the acquisition of solar contracts, new project launches, and expansion in EV solutions. A conference call to discuss results is scheduled for April 4, 2022.
SPI Energy has announced the launch of new 380W and 410W solar panels targeted at the residential market under its Solar4America brand. The company has invested significantly in advanced manufacturing technology, allowing it to operate with the latest 166mm and 182mm solar cell standards. This move comes amid a record surge in demand for residential solar solutions, with installations growing by 30% year-over-year in 2021. SPI Energy is optimistic about its position in the growing renewable energy sector, aiming to capitalize on robust consumer interest.
SPI Energy Co., Ltd. (NASDAQ:SPI) will present at the 2022 Virtual Growth Conference on March 30, 2022, from 1:50-2:30 pm PST.
The presentation will be led by SVP of Investor Relations & Finance, Randy Conone, in a fireside chat with analyst Tate Sullivan. This virtual event will cover various sectors, including clean energy and electric vehicles, featuring multiple presentations and discussions.
Investors can attend by signing up at M-Vest. For details about SPI Energy's initiatives in renewable energy and EV solutions, visit SPIgroups.com.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the appointment of Lance Zhou, Ph.D., as the new CEO of its subsidiary, Phoenix Motorcars, effective March 28, 2022. Dr. Zhou brings extensive experience from prior roles at Karma Automotive and Daimler AG, among others. He aims to leverage the existing foundation at Phoenix to enhance growth in the EV market. The previous CEO, Joe Mitchell, is acknowledged for his contributions in positioning the company for future development. This leadership change is poised to accelerate the company's expansion in the rapidly evolving electric vehicle sector.
SPI Energy Co., Ltd. (NASDAQ: SPI) has announced the launch of a full range of electric forklifts and pallet jacks through its subsidiary, Phoenix Motorcars. The electric forklifts come in capacities of 4,000, 5,000, and 7,700 lbs., equipped with batteries and chargers, and offer competitive pricing allowing for payback in under one year. The company will showcase these products at the MODEX show in Atlanta from March 28-31. SPI Energy focuses on renewable energy solutions, operating in solar storage and electric vehicle markets.
SPI Energy Co., Ltd. (NASDAQ:SPI) has launched 450W and 550W solar modules under its SolarJuice Technology brand, targeting commercial projects. The launch is timely, responding to the increasing demand for solar solutions across various sectors, including warehouses and schools. The new modules are produced in Sacramento using advanced manufacturing techniques. The U.S. solar market is projected to add over 107 GW of solar capacity in the next five years, which positions SPI to benefit from this growing trend.
SPI Energy (NASDAQ: SPI) reported a 15% increase in renewable solar electricity production in 2021, generating approximately 55,144,000 kWh from its UK, Italy, and Greece solar plants. This output can power over 9,200 average European homes and offsets more than 37,210 tons of CO2 emissions. The company continues to align with the European Green Deal, focusing on decarbonization and expanding its renewable energy initiatives.
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