SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (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 Solar4America, a subsidiary of the Company’s SolarJuice Co., Ltd. (“SolarJuice”) subsidiary and one of the leading solar and roofing installers in the US, launched Apollo, a new cloud-based online monitoring and maintenance system for solar systems, energy storage and smart energy management.
The Apollo cloud-based software platform collects data from solar systems, optimizers, inverters, energy storage systems, and electricity distribution panels installed at customer sites. The data and system status, transmitted via cellular or internet, will be analyzed by the Apollo platform, displaying relevant information to end users, installers, or regional distributors and optimizing energy consumptions. Proprietary sophisticated algorithms can facilitate remote diagnosis of integrated equipment, solving most of the technical issues without involving end users, providing significantly improved customer experiences.
Apollo software platform highlights:
- Data analysis
- Smart energy management
- System notifications
- Remote diagnosis, troubleshooting and firmware upgrades
- Assets management
- Global one-touch firmware deployment
- Advance energy consumption management
- Product batch management
- Easy third-party equipment integration
“This is another great addition to Solar4America’s expanding product and service lineup,” commented Xiaofeng Peng, Chairman and CEO of SPI Energy. “With easy-to-use desktop and mobile applications, we believe this new cloud-based monitoring and service platform will help to further differentiate Solar4America in the market while driving new sales growth.”
According to the Solar Energy Industries Association, 19.2 gigawatts (GW) of solar PV capacity was installed in the US in 2020, reaching 97.7 GW of total installed capacity, enough to power 17.7 million American homes. Solar accounted for 43% of all new electricity-generating capacity added in the US in 2020, representing solar’s largest ever share of new generating capacity and ranking first among all technologies for the second year in a row. The US solar industry is expected to install more than 324 GW of capacity over the next 10 years, quadrupling the current amount of installed solar capacity.
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.
SolarJuice Co., Ltd. (“SolarJuice”) is the leader in renewable energy system solutions for residential and small commercial markets. Established in 2009, the Company is headquartered in Sydney, Australia and delivers a one-stop global solution for solar panels, inverters, and battery systems. Since inception, the Company has served over 3,000 B2B accounts and 400 customers. SolarJuice also plans to grow its supply chain, enhance its technology platform and looks to expand its product delivery throughout the Asia Pacific Region and the North America markets. With the recent acquisition of Solar4America, one of the leading solar and roofing installers in the United States, this will allow the Company to serve more customers in the growing California, Nevada, Texas, Florida, and Colorado markets. With more than a million solar systems and roofs under its belt, the Pleasanton, CA-based company now employs hundreds of installers and operates in five states: California, Florida, Nevada, Colorado and Texas.
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.
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SOURCE: SPI Energy Co., Ltd.