SACRAMENTO, Calif. /ACCESSWIRE/September 15, 2022/ SPI Energy Co., Ltd., (NASDAQ: SPI) (the “Company”), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for businesses, individuals, governments , logistics and utilities, today announced the official registration of its solar wafer manufacturing company, SEM Wafertech Inc.
“As demand for solar power continues to grow in the United States, there is a growing need for locally sourced solar wafers,” said Xiaofeng Denton Peng, President and CEO of SPI Energy. “With the launch of SEM Wafertech, we have the advantage of adding a new business segment that generates high-margin revenue while mitigating potential future supply chain issues for supervised vendors.”
Solar wafers are a key component used for making solar cells, which are used in making solar panels. The Company is targeting delivery and production of solar wafers in the United States by 2023 with an initial capacity of 1.5 GW. The Company also plans to further increase its solar wafer manufacturing capacity to 3.0 GW by 2024.
The Cut Inflation Act of 2022 has created attractive incentives for companies to produce wafers and solar modules in the United States. Under the law, solar wafer makers will receive $12 per square meter of solar wafer produced.
More information about SEM Wafertech will be available at the RE+ Solar conference in Anaheim, CA, September 19-22. Members of the SEM Wafertech team will be at booth 4060 in Hall D to answer questions and provide additional information.
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. California.
The company has three main divisions: SolarJuice, which is involved in the wholesale distribution of solar energy, as well as solar installation and residential roofing and solar module manufacturing, SPI Solar and Orange Power, which operates a commercial and utility solar division, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and commercial markets and has extensive operations in Asia-Pacific and North America markets. SPI Solar’s commercial and utility solar division provides a full range of EPC services to third-party project developers, and develops, owns and operates solar projects that sell electricity to the grid in several regions, including the United States, the UK and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles and develops electric vehicle charger solutions, electric pickup trucks, electric forklifts and other electric vehicle 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 electric vehicles that leverage the company’s expertise and substantial solar cash flow.
For more information about SPI Energy and its subsidiaries, the Company recommends that shareholders, investors and any other interested party read the Company’s public documents and press releases available in the Investor Relations section at address www.SPIgroups.com or available on 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 by the use of words such as “may”, “could”, “will”, “intend”, “should”, “could”, “may”, “should”, “continue”, “expect”, “believe”, “anticipate”, “estimate”, “predict”, “prospects”, “potential”, “plan”, “seek” and similar expressions and variations or the negatives of these terms or other comparable terms 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 on a number of factors. These factors include, but are not limited to, the coronavirus (COVID-19) and the effects of the outbreak and actions taken with respect thereto, 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 growth of the business and other risks and uncertainties 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 assumes no responsibility to revise or update forward-looking statements.
CONTACT:
SPI Energy Co., Ltd.
RI Department
E-mail: [email protected]
David Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
[email protected]
THE SOURCE: SPI Energy Co., Ltd.
