SANTA CLARA, CA / ACCESSWIRE / January 4, 2021/ SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a globalrenewable energy company and provider of photovoltaic (PV) and electric vehicle(EV) solutions for business, residential, government, logistics and utilitycustomers and investors, today announced Phoenix Motorcars, a wholly ownedsubsidiary of the Company’s EdisonFuture subsidiary, appointed Edward Monfortas its new Senior Vice President.
Mr. Monfort brings a long track record of successfulbusiness experience in the electrical, manufacturing, and automotiveindustries, including products developed and used by NASA, Ford dealers, HomeDepot, and other large companies around the world. His extensive experience andknowledge of electricity, automation, thermal dynamics, and vehicle productionallowed him to invent and patent four inventions that raised more than $60million and generated over $100 million in sales globally, including theRonaele Mustang, COLDfire process, and electric truck and bus companies.
Building on his past experiences, Mr. Monfortcreated the first ever electric F150 conversion using all OEM parts except theengine block and created the first ever working all-electric 80-passengerschool bus used for transportation in Northern California. With Mr. Monfort nowon-board, two of his biggest inventions will be brought to market with PhoenixMotorcars:
· "Smart Plate technology" will allowany truck manufacturer in the world to convert any of their New or Used ICEtrucks to 100% electric all while using lithium batteries and or fuel celltechnology, drastically reducing costs and complex production processes.
· "Smart Battery Technology" will allowbatteries to be produced with a small cost-effective computer chip thatmonitors every battery cell’s health, providing massive amounts of informationfor telematics. This technology will allow the overall efficienciesof the high voltage batteries to be significantly increased thus providinglonger driving ranges for end customers.
More of Mr. Monfort’s inventions are in developmentwhich could further accelerate electric truck and bus adoption globally whilehelping Phoenix Motorcars meet growing demand through efficient and cost-effectivemethods.
“Ed is a terrific addition to the PhoenixMotorcars’ team,” stated Tarek Helou, COO of Phoenix Motorcars. “He bringsa level of experience that is extremely difficult to find in a young industrylike the EV market. I am confident he will be a great asset to our team and Ilook forward to working with him to create tremendous value for our company andshareholders.”
About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and providerof photovoltaic (PV) and electric vehicle (EV) solutions for business,residential, government, logistics and utility customers and investors. TheCompany provides a full spectrum of EPC services to third party projectdevelopers, as well as develops, owns and operates solar projects that sellelectricity 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 andAustralia. SPI is also targeting strategic investment opportunities in greenindustries such as battery storage and charging stations, leveraging theCompany's expertise and growing base of cash flow from solar projects andfunding development of projects in agriculture and other markets withsignificant growth potential.
For more information on SPI Energy and its subsidiaries, the Company recommendsthat stockholders, investors and any other interested parties read theCompany's public filings and press releases available under the InvestorRelations section at www.SPIgroups.com oravailable at www.sec.gov.
About Phoenix Motorcars
Phoenix Motorcars is a leader in developingmedium-duty electric vehicles for commercial markets with a primary focus onclass 3 & 4 vehicles. Phoenix Motorcars strives to provide fleets withclean transportation and renewable energy through advanced technology solutionsand remains committed to excellence in electric vehicle innovation. PhoenixMotorcars offers a range of vehicle configurations, including shuttle buses,utility trucks, service trucks, flatbed trucks, walk-in vans, cargo trucks andschool buses. For more information, please visit www.phoenixmotorcars.com.
This press release contains forward-looking statements, as that term isdefined in the Private Litigation Reform Act of 1995, that involve significantrisks and uncertainties. Forward-looking statements can be identified throughthe 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 othercomparable terminology. Readers are cautioned not to place undue reliance onthese forward-looking statements, which reflect the Company's currentexpectations and speak only as of the date of this release. Actual results maydiffer materially from the Company's current expectations depending upon anumber of factors. These factors include, among others, the coronavirus(COVID-19) and the effects of the outbreak and actions taken in connectiontherewith, adverse changes in general economic and market conditions,competitive factors including but not limited to pricing pressures and newproduct introductions, uncertainty of customer acceptance of new productofferings and market changes, risks associated with managing the growth of thebusiness, and those other risks and uncertainties that are described in the"Risk Factors" section of the Company's annual report filed on Form20-F filed with the Securities and Exchange Commission. Except as required bylaw, the Company does not undertake any responsibility to revise or update anyforward-looking statements.
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SOURCE: SPI Energy Co., Ltd.