Secured manufacturing gear supply from expanded manufacturing line anticipated in mid-Could with full capability anticipated in second half of 2022
SANTA CLARA, CA / ACCESSWIRE / February 18, 2022 / SPI Power Co., Ltd. (“SPI Power” or the “Firm”) (NASDAQ:SPI), a world renewable power firm and supplier of photo voltaic storage and electrical car (EV) options for enterprise, residential, authorities, logistics and utility prospects, at this time introduced Solarjuice Expertise, the Firm’s photo voltaic manufacturing division, signed agreements to improve its Sacramento, California manufacturing facility with innovative know-how anticipated to extend the present photo voltaic module manufacturing capability to 1.1 gigawatts (GW) by the second half of 2022.
“We begin the manufacturing of Made-in-California photo voltaic modules on the present capability of 200MW, and count on to develop the capability from this new signed manufacturing line in Q3,” said Mr. Xiaofeng Denton Peng, Chairman & Chief Govt Officer of SPI Power. “The state-of-the-art photo voltaic module manufacturing facility, which mixes California’s extremely expert employees with machine-to-machine connectivity, will function a excessive diploma of precision automation and steady enchancment for manufacturing PV modules.”
The U.S. put in 5.4 GW of photo voltaic PV capability in Q3 2021 to succeed in 113.5 GW of whole put in capability, sufficient to energy 21.8 million American houses, from the supply of SEIA (Photo voltaic Power Industries Affiliation). It’s anticipated that U.S. photo voltaic producing capability to develop by 21.5 GW in 2022. In whole, the U.S. photo voltaic market will set up greater than 107 GW of photo voltaic over the subsequent 5 years.
About SPI Power
SPI Power Co., Ltd. (NASDAQ:SPI) is a world renewable power firm and supplier of photo voltaic storage and electrical car (EV) options that was based in 2006 in Roseville, California and its operation headquarters is in Santa Clara, California.
The corporate has three core divisions: SolarJuice residential photo voltaic, the business & utility photo voltaic division comprised of SPI Photo voltaic and Orange Energy, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the chief in renewable power system options for residential and small business markets and has intensive operations within the Asia Pacific and North America markets. The business & utility photo voltaic division offers a full spectrum of EPC providers to 3rd occasion challenge builders, and develops, owns and operates photo voltaic initiatives that promote electrical energy to the grid in a number of international locations, together with the U.S., U.Okay., and Europe. Phoenix Motor is a frontrunner in medium-duty business electrical autos, and is growing EV charger options, electrical pickup vehicles, electrical scooters, and different EV merchandise.
SPI maintains world operations in North America, Australia, Asia and Europe and can be concentrating on strategic funding alternatives in quick rising inexperienced industries reminiscent of battery storage, charging stations, and different EVs which leverage the Firm’s experience and substantial photo voltaic money stream.
For extra info on SPI Power and its subsidiaries, the Firm recommends that stockholders, buyers and another events learn the Firm’s public filings and press releases obtainable below the Investor Relations part at www.SPIgroups.com or obtainable at www.sec.gov.
This press launch incorporates forward-looking statements, as that time period is outlined within the Non-public Litigation Reform Act of 1995, that contain vital dangers and uncertainties. Ahead-looking statements could be recognized by means of using phrases reminiscent of could,” “may,” “will,” “intend,” “ought to,” “may,” “can,” “would,” “proceed,” “count on,” “consider,” “anticipate,” “estimate,” “predict,” “outlook,” “potential,” “plan,” “search,” and related expressions and variations or the negatives of those phrases or different comparable terminology. Readers are cautioned to not place undue reliance on these forward-looking statements, which mirror the Firm’s present expectations and converse solely as of the date of this launch. Precise outcomes could differ materially from the Firm’s present expectations relying upon various components. These components embody, amongst others, the coronavirus (COVID-19) and the consequences of the outbreak and actions taken in connection therewith, adversarial adjustments generally financial and market situations, aggressive components together with however not restricted to pricing pressures and new product introductions, uncertainty of buyer acceptance of latest product choices and market adjustments, dangers related to managing the expansion of the enterprise, and people different dangers and uncertainties which can be described within the “Threat Components” part of the Firm’s annual report filed on Type 20-F filed with the Securities and Alternate Fee. Besides as required by legislation, the Firm doesn’t undertake any duty to revise or replace any forward-looking statements.
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