SEM Wafertech, a wholly owned subsidiary of SPI, will produce silicon wafers at the new facility as it ramps its Made-in-USA production capacity to 3.0 gigawatts

New facility will enable SPI's wholly owned Solar4America subsidiary to ramp solar module production capacity to 2.4 gigawatts

McCLELLAN PARK, CA / ACCESSWIRE / April 27, 2023 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar, storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers today announced the addition of newly leased facility in South Carolina to expand the solar wafer and solar module manufacturing capacities for its wholly owned SEM Wafertech Inc. ("SEM Wafertech") and Solar4Amercica Technology, Inc. ("Solar4America") subsidiaries.

SEM Wafertech is a leading solar wafer manufacturer in the United States. The new facility will help meet the increasing need for locally sourced solar wafers as the demand for solar power continues to grow in the U.S. SEM Wafertech is targeting delivery and production of its first solar wafers in the U.S. by the end of 2023, with capacity ramping to three gigawatts by 2024.

Solar4America is a prime solar module manufacturing company that produces "Made in the USA" solar modules. In combination with its facility in Sacramento, California, the new South Carolina facility will allow Solar4America to manufacture a wider variety of solar panels for customers, with an aim to increase capacity to 2.4 gigawatts by the end of the year.

SEM Wafertech and Solar4America plan to occupy an existing building located at 1150 Clipper Road in Sumter, where they will design, build out and install a world-class silicon wafer slicing facility. Silicon wafers produced in the facility will be used in a variety of applications, including photovoltaic cells and semiconductors. Solar panels will serve commercial, residential and industrial energy generation and storage needs. Operations are expected to begin in the fourth quarter of 2023.

The Coordinating Council for Economic Development approved job development credits related to this project. The council also awarded a $1.5 million Rural Infrastructure Fund (RIF) grant to Sumter County to assist with the costs of water and wastewater improvements and building improvements.

QUOTES

"As a global renewable energy company making American-made solar wafers and modules, we recognize the importance of having a strong domestic supply chain to meet the fast-growing demand for affordable solar power. We plan to bring the highest-quality domestically produced solar wafers and modules to market, enhancing our nation's manufacturing capabilities with a long-term investment that will create good paying jobs for South Carolina."
- SEM Wafertech Inc. and Solar4America Technology, Inc. Chairman Denton Peng

"South Carolina has proven it has the business environment and workforce in place to attract innovative companies like SEM Wafertech and Solar4America. This $65.9 million investment is yet another win for the state, and we anticipate a long and fruitful partnership."
- South Carolina Gov. Henry McMaster

"We are pleased that SEM Wafertech and Solar4America decided to establish in South Carolina. Sumter County is well-equipped to support global solar companies because of its world-class environment. Congratulations, and we welcome them to the state."
- South Carolina Secretary of Commerce Harry M. Lightsey III

"I am personally thrilled to welcome SEM Wafertech and Solar4America to Sumter County, succeeding many exciting investments announced in recent months across South Carolina. With an investment of more than $65 million and the creation of 300 new jobs, SEM Wafertech and Solar4America will be welcome additions to the region, and to our state's growing number of globally recognized renewable energy and EV-related companies - continuing to make our state's economy diverse and prosperous. I welcome them to the Sumter family, where I know we will create an enduring partnership in our community."
- Speaker of the S.C. House of Representatives Murrell Smith

"We are thrilled to add another company to our growing family of industrial leaders in Sumter and are enthusiastic about the corporate investment and jobs that will be a result of this project. The city of Sumter is also proud to partner with the company to support the needed infrastructure improvements for high quality industrial water and wastewater services."

- City of Sumter Mayor David Merchant

"One of the most rewarding tasks as the chair for Sumter County Council is to participate and celebrate in the growth of our community. We are excited to welcome our new industrial partner and see our manufacturing sector continuously diversifying. We are committed to the utmost extent to your success in Sumter."

- Sumter County Council Chairman James T. McCain Jr.

About S.C. Department of Commerce

As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. S.C. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. S.C. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, the Palmetto State has consistently been among the top in the nation for attracting jobs through foreign direct investment on a per capita basis - recognized by multiple economic development publications for its pro-business climate. For more information, visit www.SCcommerce.com.

About SPI Energy

SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar, storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in McClellan Park, California.

The company has three core divisions: SolarJuice which has solar wholesale distribution in Australia, as well as residential solar and roofing installation and solar module manufacturing. SPI Solar and Orange Power which operates a commercial & utility solar division, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The SPI Solar commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple regions, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.

SPI maintains global operations in North America, Australia, Asia and Europe and is also targeting strategic investment opportunities in fast growing green energy industries such as battery storage, charging stations, and other EVs which leverage the Company's expertise and substantial solar cash flow.

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 10-K 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
RedChip Companies, Inc.
Phone:(407) 491-4498
SPI@redchip.com

SOURCE: SPI Energy Co., Ltd.