SPI's Solar4America Launches American-Made 550W (M10) Solar Modules for Commercial and Industrial Markets
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the launch of its new American-made 550W (M10) solar modules through its subsidiary, Solar4America, based in Sacramento, CA. This product targets the commercial and industrial markets, aiming to capitalize on the Inflation Reduction Act's benefits. Solar4America has increased its annual production capacity from 700MW to a planned 2.4GW in 2023. The Chairman expressed confidence in meeting growing demand for domestically produced solar products.
- Launch of new American-made 550W solar modules for commercial and industrial markets.
- Increased production capacity from 700MW to 2.4GW in 2023, enhancing market response capabilities.
- First American manufacturer of bifacial 550W solar products, positioning for competitive advantage.
- None.
New product line manufactured at Solar4America's facilities in Sacramento, CA
MCCLELLAN PARK, CA / ACCESSWIRE / January 12, 2023 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers. The Company announced today that its wholly owned subsidiary, Solar4America, a Sacramento, California-based solar module manufacturing company, has launched new American-Made 550W (M10) solar modules for the commercial and industrial markets.
"We are very excited to begin production of our brand-new product line for commercial, industrial, and utility applications. We are the very first American manufacturer of 550W/M10 bifacial products," said Denton Peng, Chairman of Solar4America. "Commercial, industrial, and utility partners and developers are choosing our American-made modules to gain the full benefits of the Inflation Reduction Act, which aims to boost both solar deployment and domestic solar manufacturing. We are very excited to meet this important milestone for our company and believe we offer the best domestic-made module products to our customers to meet the increasing demand for American-made modules."
Solar4America's solar module factory recently increased annual capacity to 700MW, with additional investments increasing capacity up to 2.4GW in 2023. Currently, Solar4America has production capacities for 2023 on an array of modules including 410W/72cells, 410W/108 half cut cells, all black panels for the residential market, and 410W/72 cells (silver) and bifacial 550W solar panels for commercial and industrial markets.
"Our California production facility will deliver consistent high-quality, American-made products to customers," said Denton Peng. "Our investment into our facility in Sacramento boosts our capability to meet increasing market demand, enabling us to offer a stable supply of Made-in-USA products."
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 McClellan Park, California.
The Company has three core divisions: SolarJuice which has solar wholesale distribution, as well as residential solar and roofing installation and solar module manufacturing, SPI Solar and Orange Power which operates a commercial & utility solar division, 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 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 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 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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