SPI Energy’s Solar4America Appoints Solar Industry Veteran Kemp Qiu as Chief Products Officer

Rhea-AI Summary

SPI Energy announced the appointment of Kemp Qiu as Chief Products Officer of Solar4America, enhancing its leadership in the renewable energy sector. Qiu, a solar industry veteran, co-founded LeadSolar, achieving significant revenue and product innovation. He will focus on developing smart renewable energy solutions for the residential and small commercial markets. This strategic move comes as the global solar market is projected to grow significantly, from $52.5 billion in 2018 to $223.3 billion by 2026, highlighting the potential for SPI Energy's continued growth.

Positive

• Appointment of Kemp Qiu as Chief Products Officer expected to enhance product development and leadership.
• Qiu's extensive experience and past success at LeadSolar may contribute positively to SPI's growth.
• The global solar market's projected growth offers a favorable backdrop for SPI Energy's initiatives.

Negative

• Potential continuity concerns due to management change, which may impact project execution.

SANTA CLARA, CA / ACCESSWIRE / March 11, 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 Solar4America, (now a part of SolarJuice Co., Ltd. ("SolarJuice"), one of the largest solar and roofing installers in the United States, has appointed solar industry veteran Kemp Qiu as its new Chief Products Officer.

Qiu was previously the co-founder and CEO of LeadSolar Energy Co., Ltd. ("LeadSolar"), a solar business he built from scratch and successfully grew to tens of millions of dollars in annual revenue. Qiu led LeadSolar's product design and development in key offerings, including cloud-based power monitoring and remote maintenance software platform, data communication devices for the solar systems, smartphone apps for customers, installers and business partners, solar micro-inverter, residential energy storage product lines. He also led the development of modular, integrated energy storage solutions and jointly developed a commercial-scale energy storage system with US-based customers.

Prior to LeadSolar, Qiu was Director of Product and International Partnerships for Securus, a GPS-tracking SaaS services company based in North Carolina, and Product Manager at Xinray Systems, a JV of Siemens and Xintek, a nanotechnology company where Qiu previously held project manager and engineering roles.

As Chief Products Officer of Solar4America, Qiu will lead the development of hardware and software for smart renewable energy solutions to be sold in the American residential and small commercial markets as stand-alone kits.

Xiaofeng Peng, Chairman and CEO of SPI Energy, commented, "Kemp is a great addition to the Solar4America team, and I am confident he will provide tremendous value as we work to broaden our solar storage product portfolio in the United States."

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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https://www.accesswire.com/634944/SPI-Energys-Solar4America-Appoints-Solar-Industry-Veteran-Kemp-Qiu-as-Chief-Products-Officer

FAQ

Who is Kemp Qiu and what is his role at SPI Energy?

Kemp Qiu is the new Chief Products Officer of Solar4America, appointed to lead the development of renewable energy solutions.

What are Kemp Qiu's qualifications for his role?

Qiu has a strong background in the solar industry, previously co-founding LeadSolar and achieving significant revenue growth.

What is the expected impact of Qiu's appointment on SPI Energy?

His leadership is anticipated to strengthen SPI Energy's position in the solar market and enhance product offerings.

How is the global solar market projected to perform?

The global solar market is expected to grow from $52.5 billion in 2018 to $223.3 billion by 2026, reflecting a robust increase.