SPI Energy’s Phoenix Motorcars Appoints Auto Tech Veteran Ron Iacobelli as its New CTO

Rhea-AI Summary

SPI Energy Co., Ltd. announced the appointment of Ron Iacobelli as the new Chief Technology Officer, effective April 26, 2021. Iacobelli brings over 30 years of experience in advanced automotive technology, including significant expertise in electrification and the electric vehicle (EV) sector. His prior roles include leadership positions at major companies and startups, playing a key part in developing hybrid and electric vehicles. This leadership change aims to enhance the company's capabilities in EV innovation and strengthen its position in the renewable energy market.

Positive

• Ron Iacobelli brings 30 years of automotive technology experience, enhancing management expertise.
• Iacobelli's background in EV development may boost the company's innovation capabilities.

Negative

• Management changes can create concerns regarding continuity and experience gaps.

SANTA CLARA, CA / ACCESSWIRE / April 27, 2021 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced its board of directors has appointed automotive technology veteran Ron Iacobelli as its new chief technology officer, effective on April 26, 2021.

Ron Iacobelli is an experienced technology executive with 30 years of advanced automotive technology experience, including 20 years in electrification. He is one of a group of pioneers in the modern EV industry, having developed some of the earliest hybrid electric commercial vehicles in the era of the original Prius and launching the first production light duty van in North America and Europe at the time of the original Nissan Leaf. Iacobelli is a serial entrepreneur, having grown three companies from concept to production, and launched vehicles at both a major OEM and at a start-up which became a vehicle manufacturer.

Ron spent his early career at Ford Motor Company engineering vehicle electrical and chassis systems, then managing supplier quality and continuous improvements for the Crown Victoria and Grand Marquis car lines. In 1999, Iacobelli entered the emerging fuel cell industry, joining Ballard Power, where he launched the company's supplier development program. Ron joined Azure Dynamics in 2001 serving as CTO then Interim CEO. As a pure start-up, Ron led the implementation of Azure's processes, technology, and partnerships from a clean sheet to the market leading commercial hybrid and EV manufacturer in North America with major OEM and Tier 1 partnerships. In 2010, Azure kicked off the modern EV era launching the Transit Connect Electric Van in North America and Europe in collaboration with Ford Motor Company. Iacobelli co-founded Spur Innovations in 2013 developing connected fleet-vehicle controls. Spur was acquired by Streamline Transportation Technologies in 2016 where Ron assumed the COO role, leading the growth of Streamline's cloud-based vehicle telematics and ELD business. Iacobelli served on the Technology Advisory Board of one of China's largest new energy vehicle companies from 2017-2019, and in April 2020, he co-founded INTGR8 Technologies, a business focused on vehicle automation and electrification for fleets.

Ron has a Bachelor of Science in Mechanical Engineering from the University of Windsor.

"We are excited to welcome Ron to the Phoenix Motorcars team," stated Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy. "Ron is a great addition to an already impressive management team, and I believe he will bring tremendous value to the organization in the quarters ahead."

About Phoenix Motorcars

Phoenix Motorcars is a leader in developing medium-duty electric vehicles for commercial markets with a primary focus on class 3 & 4 vehicles. Phoenix Motorcars strives to provide fleets with clean transportation and renewable energy through advanced technology solutions and remains committed to excellence in electric vehicle innovation. Phoenix Motorcars offers a range of vehicle configurations, including shuttle buses, utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks and school buses.

For more information, please visit www.phoenixmotorcars.com

About SPI Energy

SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.

For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.

Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

Contact:

SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com

Dave Gentry
RedChip Companies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

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FAQ

What is the significance of Ron Iacobelli's appointment as CTO of SPI Energy?

Ron Iacobelli's appointment is significant as he brings extensive experience in automotive technology and electrification, which may enhance SPI Energy's capabilities in electric vehicle innovation.

How might Ron Iacobelli's background impact SPI Energy's future?

Ron Iacobelli's background in developing electric vehicles could lead to improved product offerings and innovation at SPI Energy, positioning the company favorably in the renewable energy market.

When did Ron Iacobelli officially take over as CTO of SPI Energy?

Ron Iacobelli officially took over as Chief Technology Officer of SPI Energy on April 26, 2021.

What prior experience does Ron Iacobelli have in the electric vehicle industry?

Ron Iacobelli has over 20 years of experience in electrification and has held significant roles in the development of hybrid and electric vehicles at various major and startup companies.