Press Releases

SPI ENERGY’S PHOENIX MOTORCARS DEPLOYS TWO ELECTRIC SHUTTLE BUSES TO THE CITY OF SANTA CRUZ

November 24, 2020

SANTA CLARA, CA / ACCESSWIRE / November 24, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI)

(the "Company"), a global renewable energy company and provider of photovoltaic (PV) and

electric vehicle (EV) solutions for business, residential, government, logistics and utility

customers and investors, today announced Phoenix Motorcars, which was recently acquired by

the Company’s wholly owned subsidiary, EdisonFuture, delivered its second all-electric ZEUS

Z-400 shuttle to the City of Santa Cruz.

​The two ZEUS shuttles, built on the Ford E-450

chassis with a Starcraft Bus body by Phoenix

Motorcars, will serve the Santa Cruz trolley,

replacing their existing wooden trolleys and

helping to promote the City’s sustainability

goals. The all electric zero emission shuttle bus

was funded in part by the Monterey Bay Air

Resources District (MBARD) Clean Air

Management Program and the Hybrid and

Zero-Emission Truck and Bus Voucher Incentive

Project (HVIP) program.  

“MBARD is proud to be working with our local municipalities like the City of Santa Cruz to help

clean the air quality in our coastal communities. Through our Air Bill 2766 Funding, we have

helped Santa Cruz adopt these Phoenix Motorcars ZEUS Shuttles into their fleet and look

forward to future deployments,” said Alan Romero, Air Quality Planner at Monterey Bay Air

Resources District.

The shuttle bus is equipped with a 105-kWh battery pack offering up to 110 mile range and can

be fully charged in about three hours with a 50 kW Level III charger. Staying in harmony with the

old trollies, the new electric shuttle buses from Phoenix Motorcars feature faux wooden

interiors, while being equipped with 16 seats and two wheelchair accessible seats. The ZEUS

shuttle bus, as compared to its equivalent fossil fueled alternatives, will reduce atmospheric

emissions by ~61 tons annually, reduce maintenance costs by 75% and fuel costs by 80%.

“We are thrilled to be receiving our two electric shuttles from Phoenix Motorcars. They will

replace the old trolleys and we are certain customers will love the quiet, smooth and emission

free ride. It has been a pleasure working with the Phoenix team,” says Amanda Rotella,

Economic Development Coordinator at The City of Santa Cruz.

“Zero emission transportation is an integral part of building a sustainable future and it’s great to

see the City of Santa Cruz being an early adopter. Operating the ZEUS all-electric shuttle bus

from Phoenix will provide significant emission savings and cost saving opportunities to the

customer. At SPI, our focus has always been sustainable development and we look forward to

expanding Phoenix’s range of zero emission products to meet varied fleet requirements,” stated

Xiaofeng Peng, Chairman and CEO of SPI Energy.

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 photovoltaic (PV) 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.

Contact:

SPI Energy Co., Ltd.

IR Department

Email:

ir@spigroups.com

Dave Gentry

RedChipCompanies, Inc.

Phone:(407) 491-4498

dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

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