Press Releases

SPI Energy Provides Update on its CBD Operations

January 29, 2020

HONG KONG and SANTA CLARA, California, January 29, 2020 (GLOBE NEWSWIRE) – SPI

Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI), a global provider of green

energy solutions with strategic investments in green-energy-enabled products and services,

recently completed the installation of its cannabidiol (CBD) extraction equipment at a facility

in Fresno, California.

The newly installed CBD extraction equipment is designed to enable the production of CBD

crude oil, distillate and isolate.  Currently, the Company is conducting pre-production test

runs of its CBD crude oil extraction process; completing quality control review, and

self-testing the CBD crude oil that is being produced.

“We have made significant progress building the foundation of our CBD operations in

California in recent months,” stated Xiaofeng Peng, Chairman and CEO of SPI Energy. “The

Company has executed toll manufacturing agreements with three local hemp farms, and we

expect to expand our CBD extraction services and scale our production capacity to match

growing demand.”

The Company recently sent demand letters to the Native American Agricultural Company

(NAAC) after it failed to deliver of the hemp crop under the terms of the agreement the

Company entered into with them on July 24, 2019.  The Company is now planning to take

legal action against the NAAC to recover the economic loss.  

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. is an established provider of photovoltaic solutions with global

operations in key markets in Australia, Europe, Japan and the United States. The Company is

leveraging its solar platform and expertise to make strategic investment in green industries

with significant growth and earnings potential and/or green-energy-enabled products.

For inquiries, please contact:

SPI Energy Co., Ltd.​

IR Department​

Email: ir@spigroups.com

All Press Releases