SPI Energy
SPI Energy, established in 2006 in Roseville, California, operates in the renewable energy sector with a focus on solar, electric vehicles, battery storage, and hydrogen. Headquartered at McClellan Park, California, the company has a global presence and is listed on NASDAQ under the ticker SPI.
Company Overview
SPI Energy was established in Roseville, California in 2006 and is currently headquartered at McClellan Park, California. The company operates in the renewable energy sector, with a focus on solar, electric vehicles (EV), battery storage, and hydrogen. SPI Energy is listed on NASDAQ under the ticker SPI and has a global presence with operations in North America, Australia, Asia, and Europe.
Core Divisions
SPI Energy operates through three core divisions: SolarJuice residential solar, SPI Solar and Orange Power's commercial solar division, and the Edisonfuture/Phoenix Motor EV division. SolarJuice is a leader in renewable energy system solutions for residential and small commercial markets. The commercial solar division offers a full spectrum of EPC services and develops, owns, and operates solar projects. Phoenix Motor focuses on medium-duty commercial electric vehicles, developing EV charger solutions and other EV products.
Global Operations and Milestones
SPI Energy maintains operations in multiple countries, with utility-scale solar projects in Illinois and Maryland. The company completed the sale of a 5MW solar plant in Hawaii and developed a new solar wafer manufacturing business in the United States. Phoenix Motorcars reached a milestone of over 3.0 million all-electric miles for its vehicles. The Orange Power and SPI Solar subsidiaries produced 55.9 million kilowatt-hours of renewable energy in 2022.
Financial Performance
For the fiscal year 2022, SPI Energy reported $177 million in revenue, exceeding prior guidance. The company reaffirms its 2023 financial guidance, expecting revenues between $250 million and $300 million, and net profit between $29 million and $36 million. These optimistic forecasts reflect the company's strategic investments in fast-growing green industries such as battery storage, charging stations, and other EVs.
Recent Developments
In December 2022, SPI Energy completed a private placement of ordinary shares totaling US$ 1.16 million. SolarJuice Technology secured two provisional patents for solar module manufacturing, while a 140,000 sq. ft. Sunergy PV Solar Plant was acquired in Sacramento, California. Solar4America, a subsidiary, continues to showcase American-made solar modules at various expos and trade shows. SEM Wafertech, another wholly-owned subsidiary, produces silicon wafers at a new facility in South Carolina.