SPI Energy’s Phoenix Motorcars to Showcase Full Range of New Electric Forklifts and Pallet Jacks at MODEX in Atlanta

Rhea-AI Summary

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.

Positive

• Launch of a new range of electric forklifts and pallet jacks through Phoenix Motorcars.
• Competitive pricing allows for payback in less than a year compared to traditional forklifts.
• Immediate availability of products, including financing and leasing options.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / March 22, 2022 / SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, today announced that its wholly owned Phoenix Motorcars subsidiary has launched a full range of material handling product lines including Electric Forklifts and Pallet Jacks.

The Electric Forklifts are available with capacities of 4,000, 5,000 and 7,700 lbs. and include batteries, chargers, and industry leading warranties. In addition to extended warranty and service terms, the Electric Forklifts include financing and leasing options and are available for immediate delivery.

"The electric forklift industry is rapidly expanding, and we are excited to be adding these green energy solutions to our existing product portfolio," said Jose Paul Plackal, Phoenix Motorcars' Chief Marketing Officer. "With the efficiency of these units and the competitive pricing we provide, customers can expect payback in less than one year compared to traditionally powered forklift units, which typically have longer payback periods."

Phoenix Motorcars will be exhibiting its Electric Forklifts at the MODEX show in Atlanta, GA on March 28th - 31st in Booth # C5394. More information on Phoenix Motorcars' material handling line is available on the Phoenix Motorcars site and inquiries can be directed to forklifts@phoenixmotorcars.com.

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. (NASDAQ: SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in Santa Clara, California.

The company has three core divisions: SolarJuice residential solar, the commercial & utility solar division comprised of SPI Solar and Orange Power, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple regions, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.

SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green energy industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.

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.

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

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

SOURCE: SPI Energy Co., Ltd.

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FAQ

What products has SPI Energy launched recently?

SPI Energy has launched a full range of electric forklifts and pallet jacks through its subsidiary, Phoenix Motorcars.

What are the capacities of the new electric forklifts?

The new electric forklifts have capacities of 4,000, 5,000, and 7,700 lbs.

When and where will SPI Energy showcase its electric forklifts?

SPI Energy will showcase its electric forklifts at the MODEX show in Atlanta from March 28 to March 31.

What is the expected payback period for the electric forklifts?

The electric forklifts are expected to provide payback in less than one year compared to traditional forklifts.

What market does SPI Energy operate in?

SPI Energy operates in the renewable energy market, focusing on solar storage and electric vehicle solutions.