SPI’s Phoenix Motorcars Named to Fast Company’s Annual List of World Changing Ideas for 2021

Phoenix Motorcars' industry first EZ ZEUS Autonomous Shuttle recognized as a finalist in the AI & Data category

ONTARIO, CA / ACCESSWIRE / May 17, 2021 / SPI Energy Ltd. (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, and investors, today announced its wholly owned Phoenix Motorcars subsidiary has been named to Fast Company's 2021 annual list of World Changing Ideas. Phoenix Motorcars, a leading manufacturer of electric shuttle buses and trucks, has been recognized as a finalist in the Artificial Intelligence and Data category for its EZ ZEUS autonomous shuttle bus.

Fast Company's 2021 World Changing Ideas Awards honors the businesses, policies, projects, and concepts that are actively engaged and deeply committed to pursuing innovation when it comes to solving health and climate crises, social injustice, or economic inequality.

Jointly developed by Phoenix Motorcars and EasyMile, the EZ Zeus will be the first of its kind all-electric self-driving cutaway shuttle bus deployed in real-life traffic conditions. Furthering its success in powering traditional medium-duty shuttles and trucks with its cutting-edge electric drivetrain technology, the Level-4 autonomous shuttle integrates EasyMile's driverless technology to its range of zero emission vehicles.

"We are thrilled to be honored as a World Changing Idea for 2021. This is a great recognition of our team member's continued efforts in innovating and delivering sustainable and socially impactful commercial transportation solutions," said Joe Mitchell, Phoenix Motorcars CEO. "Our electric shuttle buses are widely used by cities, para-transit services, last-mile connectivity operators and various campuses across the country. The autonomous shuttle being developed in partnership with EasyMile will further enable significant improvements in transit operations for various fleet operators, while also making cutting edge technologies accessible and available to the communities we live and work in."

A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries. The 2021 awards feature entries from across the globe, from Brazil to Denmark to Vietnam.

"There is no question our society and planet are facing deeply troubling times. So, it's important to recognize organizations that are using their ingenuity, impact, design, scalability, and passion to solve these problems," says Stephanie Mehta, editor-in-chief of Fast Company. "Our journalists, under the leadership of senior editor Morgan Clendaniel, have discovered some of the most groundbreaking projects that have launched since the start of 2020."

About Phoenix Motorcars

Phoenix Motorcars is a leader in developing medium-duty electric vehicles for commercial markets with a primary focus on class 3 & 4 vehicles. Phoenix Motorcars strives to provide fleets with clean transportation and renewable energy through advanced technology solutions and remains committed to excellence in electric vehicle innovation. Phoenix Motorcars offers a range of vehicle configurations, including shuttle buses, utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks and school buses. For more information, please visit www.phoenixmotorcars.com

About SPI Energy

SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors. The Company provides a full spectrum of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.

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 20-F 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.

SPI Energy Co., Ltd.

Contact:

IR Department
ir@spigroups.com

Dave Gentry
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.