MCCLELLAN PARK, CA / ACCESSWIRE / MAY 30, 2023 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the 'Company'), a global renewable energy company and provider of solar, storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, today announced its wholly owned Solar4america subsidiary start construct a new state-of-the-art 500MW n-type TOPCon solar cell manufacturing facility in the United States.
The advanced facility will support the production of Pioneer4 430W Black modules for residential markets and Pioneer5 580W Bifacial Modules for commercial and industrial (C&I) and utility markets through SPI Energy's Solar4America subsidiary.
This groundbreaking project follows Solar4America's initial announcement of the Pioneer4 430W TOPCon All-Black module at Intersolar North America at the Long Beach Convention Center in February 2023. With an industry-leading efficiency of up to 22.3%, the Pioneer series solar modules are set to revolutionize the solar market.
TOPCon solar cells & modules offer higher power, less degradation, enhanced mechanical loads, lower temperature coefficient, and increased energy yield. These advancements result in reduced balance of system costs, lower levelized cost of energy, and ultimately, higher investment internal rate of return for customers.
'We are thrilled to announce the development of our new 500MW n-type TOPCon solar cell manufacturing facility,' said Denton Peng, Chairman and CEO of SPI Energy. 'This facility will support the production of Solar4America's Made-in-USA groundbreaking Pioneer series solar modules while also providing our customers with the highest quality solar products on the market.' The Pioneer series American made solar cells & modules are expected to be available for delivery to customers starting in Q1 2024.
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 in Australia, 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.
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 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.
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