SPI Energy's Solar4America to Provide Update on Manufacturing Expansion Plans at PV CellTech USA
- Solar4America's expansion plans and expected US-made module production by Q2 2024 demonstrate growth potential.
- Total combined capacity reaching 2.4GW in 2024 indicates increased manufacturing capabilities.
- Becoming a leading domestic module producer in less than a year highlights their success in the market.
- None.
MCCLELLAN PARK, CA / ACCESSWIRE / October 2, 2023 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar, and storage solutions for business, residential, government, logistics and utility customers, announces its wholly-owned subsidiary, Solar4America (S4A), a Sacramento, Calif.-based solar module manufacturing company, is participating in PV CellTech USA 2023 in Burlingame, CA, Oct. 3-4, 2023, with Franz Feuerherdt, S4A's Vice-President of Sales & Marketing, providing an update on the expansion of S4A's manufacturing capabilities and next steps during a presentation on day two of the conference.
"The PV CellTech conference provides an ideal opportunity to present our American solar manufacturing operations and plans to industry experts," said Denton Peng, Chairman of Solar4America. "We have been producing 410W modules for the residential market and 550W modules for C&I and utility markets in our Sacramento factory since 2022. We've become a leading domestic module producer in less than a year. Meanwhile, we announced plans to open our second US solar module and cell manufacturing facility in Sumter, South Carolina in 2024. The addition of the Sumter facility positions us to meet growing market demand and enables us to deliver American-made solar modules to customers anywhere in the nation."
The Solar4America module manufacturing facility in Sacramento, Calif. currently produces approximately 700MW. Total combined capacity of the S4A California and South Carolina locations will reach 2.4GW in 2024.
Currently S4A has production capacities for 2023 on an array of modules including 330W/60 cells and 410W/72cells, 410W/108 half cut cells all black panels for the residential market and 410W/72 cells (silver) and 550W solar panels for C&I markets.
Solar4America will have representatives available to answer questions at the conference.
About SPI Energy
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar, and storage solutions that was founded in 2006 in Roseville, California and is headquartered in McClellan Park, California.
The company has three core divisions: SolarJuice which has solar wholesale distribution in Australia, as well as residential solar and roofing installation and solar module manufacturing under the Solar4America brand; SPI Solar and Orange Power which operate a commercial & utility solar division. SolarJuice is a 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 SPI Solar 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.
For more information on SPI 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 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 closing of the transaction referred to above, 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 10-K 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
SPI@redchip.com
SOURCE: SPI Energy Co., Ltd.
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