New line of steel-framed solar modules reduces production-based carbon footprint and bolsters U.S.-based supply chain
MCCLELLAN PARK, CA / ACCESSWIRE / September 4, 2024 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar, storage and electric vehicle (EV) solutions announced its wholly owned subsidiary, Solar4America (S4A), a Sacramento, Calif.-based solar module manufacturer, will launch a new solar module line using industry innovator Origami Solar's domestically produced steel module frames.
By leveraging regional frame-making resources and recycled steel, Origami Solar's steel frames cut production-related greenhouse gases by over 90%, representing a reduction of 80 kilograms per module or 200 metric tons per megawatt. S4A's new line of domestically manufactured solar modules using Origami's recycled steel frames will initially feature a range of power classes from 550 Watt up to 580W and will add 5.3 to 7.0% to domestic content ITC bonus qualification..
"We believe this collaboration underscores our commitment to innovation, sustainability, and delivering superior value to our customers. By sourcing steel solar module frames from Origami Solar for our newest product line, we will overcome challenges related to constrained global supply chains while reducing reliance on imported aluminum and further supporting domestic job creation," said Denton Peng, Chairman and CEO of SPI Energy. "We're excited about the positive impact this new line of solar panels will have on the U.S. renewable energy landscape."
"We are excited to partner with Solar4America to build a durable and decarbonized module series with increased domestic content," said Gregg Patterson, CEO of Origami Solar. "Our steel frames deliver validated strength, better protecting glass and cells from breakage during installation and during extreme weather events. Solar4America customers will benefit from these advantages, as well as from the lower carbon-footprint of recycled domestic steel vs. aluminum."
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 solar module manufacturing under the Solar4America brand. SPI Solar and Orange Power which operate a commercial & utility solar division, and the Phoenix Motor EV division. 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.
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.
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 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.
About Origami Solar
Origami Solar is the leading developer of an innovative steel solar panel frame that is transforming the solar industry with a transparent, domestic recycled steel supply base, precise high-speed production, and dramatically lower greenhouse gas emissions. By sourcing steel from an established regional ecosystem, solar module manufacturers can eliminate supply chain risk, decarbonize their modules, and qualify for important domestic content incentives. Origami's experienced leadership team has successfully developed utility-scale solar projects, commercialized PV components, and launched and scaled several renewable energy companies. For more information, visit: www.origamisolar.com.
Contact:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Dave Gentry
RedChip Companies, Inc.
Phone:(407) 491-4498
SPI@redchip.com
SOURCE: SPI Energy Co., Ltd.
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