SPI Energy’s Solar4America Announces New Headquarter Office/Warehouse Lease at the Preston Tech Center in Livermore, CA

Rhea-AI Summary

SPI Energy Co., Ltd. (NASDAQ:SPI) has signed a long-term lease for nearly 58,000 square feet at the Preston Tech Center in Livermore, California. This facility will consolidate existing operations from Pleasanton and Livermore, enhancing logistics capabilities. The strategic location supports growth in solar and EV solutions, with plans for EV chargers and solar PV installations. CEO Denton Peng emphasized that the new headquarters nearly doubles their Bay Area space, facilitating increased hiring and supporting expanding consumer solar and roofing projects amidst a growing global solar market, valued at $52.5 billion in 2018 and projected to reach $223.3 billion by 2026.

Positive

• New long-term lease for 58,000 square feet is expected to enhance operational efficiency.
• Facility consolidation allows for combined logistics and resource management.
• Strategic location supports expansion in California's solar and EV markets.
• Planned installation of EV chargers and solar PV aligns with market growth.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / March 8, 2021 / 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 and investors, today announced its SolarJuice Co., Ltd. ("SolarJuice") subsidiary, has recently entered into a long-term lease agreement for nearly 58,000 square feet of combined office and warehouse space at the Preston Tech Center in Livermore, California. The new facility will enable the Company to merge two existing facilities, its Solar4America headquarters in Pleasanton, CA and its regional office/warehouse facility in Livermore, CA, into a single unified space.

The location of the new facility is central to the Bay Area with convenient reach into the Central Valley. With an expansive fenced yard, multiple loading docks, and the planned installation of EV chargers and solar PV at the site, the new location represents a strategic commitment to the California solar and builder markets.

Denton Peng, Chairman and CEO of SPI Energy, commented, "We are proud of our Solar4America new headquarters at the Preston Tech Center. This represents a near doubling of our space in the Bay Area and will allow us to ramp new hiring while meeting our warehouse needs to accommodate our growing consumer solar PV, battery installations, and roofing projects in the greater Bay Area for years to come."

The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026, according to Allied Market Research.

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. (the "Company") is a global provider of photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company's subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.

About SolarJuice

SolarJuice Co., Ltd. ("SolarJuice") is the leader in renewable energy system solutions for residential and small commercial markets. Established in 2009, the Company is headquartered in Sydney, Australia and delivers a one-stop global solution for solar panels, inverters, and battery systems. Since inception, the Company has served over 3,000 B2B accounts and 400 customers. SolarJuice also plans to grow its supply chain, enhance its technology platform and looks to expand its product delivery throughout the Asia Pacific Region and the North America markets. With the recent acquisition of Solar4America, one of the largest privately held solar and roofing installers in the United States, this will allow the Company to serve more customers in the growing California, Nevada, Texas, Florida, and Colorado markets. With more than a million solar systems and roofs under its belt, the Pleasanton, CA-based company now employs hundreds of installers and operates in five states: California, Florida, Nevada, Colorado and Texas.

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
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

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FAQ

What recent lease agreement did SPI Energy announce?

SPI Energy announced a long-term lease for nearly 58,000 square feet at the Preston Tech Center in Livermore, California.

How does the new facility benefit SPI Energy?

The new facility consolidates operations, enhances logistics, and supports the company's growth in solar and EV solutions.

What is the expected impact of the new headquarters on SPI Energy's workforce?

The new headquarters nearly doubles their space, facilitating increased hiring for consumer solar and roofing projects.

What is the projected growth of the global solar market?

The global solar market is projected to grow from $52.5 billion in 2018 to $223.3 billion by 2026.

What future plans does SPI Energy have for the new facility?

SPI Energy plans to install EV chargers and solar PV at the new site to align with market expansion.