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SPI Energy has announced the successful delivery of its first all-electric medium-duty service truck, the ZEUS 500, to the City of Woodland, California. This marks a significant milestone in electric vehicle innovation within the commercial sector. The truck, equipped with a 105-kWh battery, boasts a range of up to 110 miles. Funding for the project included contributions from local Air Quality Management District and PG&E’s EV Fleet program, which aims to facilitate the installation of EV infrastructure. SPI Energy continues to lead in renewable energy and electric vehicle solutions globally.
SPI Energy Co., Ltd. (NASDAQ: SPI) has appointed auto industry veteran Joseph R. Mitchell as its new CEO, effective February 15, 2021. With over 30 years in the automotive sector, including 20 years in the electric vehicle market, Mitchell brings extensive experience from companies such as Ford and UQM Technologies. His appointment is part of an effort to bolster management ahead of anticipated growth. Other key appointments include Frank Jenkins as VP of Business Partnerships and Edmund Shen as VP of Product Management, signaling a strategic focus on expanding within the renewable energy and electric vehicle markets.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its executives will present at the Richmond Club online small-cap investor conference on February 24, 2021. The presentation will cover SPI's recent achievements in solar energy and electric vehicles, along with future milestones and growth forecasts. The Richmond Club, with 653 Investment Advisor members, focuses on promoting undervalued companies, achieving a 19.16% annual growth rate since June 2005. SPI aims to expand its shareholder base and enhance trading liquidity through this presentation.
SPI Energy Co., Ltd. (NASDAQ: SPI) has successfully closed a registered direct offering, raising approximately $14.7 million. The company sold about 1.4 million ordinary shares priced at $10.79 each, in compliance with Nasdaq regulations. The offering is part of a shelf registration statement filed with the SEC. SPI Energy focuses on providing renewable energy solutions, including solar storage and EV solutions, targeting growth in green industries like battery storage.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced a registered direct offering of approximately $14.7 million in ordinary shares, selling around 1.4 million shares at $10.79 each. The transaction is set to close on or about February 10, 2021. Roth Capital Partners, Kingswood Capital Markets, and Maxim Group LLC are the co-placement agents. The offering is part of a shelf registration statement effective September 30, 2020. SPI focuses on delivering renewable energy solutions and expanding its presence in solar projects globally.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced that its subsidiary, Orange Power Co., Ltd., generated approximately 47.87 million kWh of renewable energy in 2020, capable of powering over 8,000 European homes and offsetting more than 32,357 tons of CO2 emissions. With strong operational success in Europe, Orange Power is pursuing acquisitions in the US, Europe, and Australia. The global solar energy market is projected to grow from $52.5 billion in 2018 to $223.3 billion by 2026. SPI's CEO believes their expertise in project development positions them as a valuable partner for solar developers.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the approval of a plan to spin off Phoenix Motorcars, a subsidiary of its EdisonFuture division, through an initial public offering. EdisonFuture will retain 70 million shares post-spin-off. Phoenix, known for its electric drivetrain and commercial EV offerings, aims to tap into the growing fleet vehicle electrification market. The management team has been enhanced with industry veterans to support rapid growth. This strategic move is expected to unlock significant value for SPI shareholders.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the appointment of Dr. Tom Zhang as the new Vice President of Human Resources at its subsidiary, Phoenix Motorcars. Dr. Zhang brings 14 years of HR experience from major companies like Google, Tesla, and Tencent. His background includes senior HR roles and a focus on employee development and performance management. The COO of Phoenix Motorcars, Tarek Helou, highlighted the importance of Dr. Zhang's expertise in scaling operations and building a strong team for their long-term vision in the electric vehicle market.
SPI Energy Co., Ltd. (NASDAQ:SPI) has appointed Frank Jenkins as the new Vice President of Business Partnerships and Development for its subsidiary Phoenix Motorcars. Jenkins, with over 35 years of experience in the automotive industry, previously held senior roles at Denso, Electric Vehicles International, and General Motors. His extensive background in strategic partnerships and commercial sales is expected to aid Phoenix in scaling production and securing industry collaborations, particularly with plans to open a second production facility in Detroit.
SPI Energy has announced the commencement of construction on its 712kW Oahu 101-1 solar carport project in Hawaii. This project, initiated through its subsidiary SPI Solar, will generate clean electricity for the Hawaiian Electric Company upon completion. Chairman and CEO Xiaofeng Peng emphasized the project as a key milestone for SPI Energy's growth in the U.S. solar sector. Hawaii aims to achieve a 100% renewable energy portfolio under its Clean Energy Initiative, positioning SPI Energy strategically in the renewable energy landscape.