April 19, 2021

SANTA CLARA, CA / ACCESSWIRE / April 19, 2021 / 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 its wholly owned Phoenix Motorcars subsidiary delivered their second electric service truck to the City of Woodland, California. These trucks are the first All-Electric Medium Duty Commercial Service Trucks of their kind to be built and used in the industry. The first vehicle was delivered earlier this year.

The City of Woodland will be incorporating these vehicles into their city maintenance fleet. The all-electric trucks will be used citywide to maintain the City of Woodland’s utility infrastructure. Phoenix Motorcars’ Z500 trucks are the first step towards Woodland’s efforts to cleaning the air quality with zero-emission vehicles and will be the first zero-emission trucks deployed into the city fleet.

The City’s Climate Action Plan outlines a response to significantly reduce GHG emissions by 2035, with 31% of those initiatives targeting transport and land use. Combined, these two trucks are expected to reduce 120 metric tonnes of carbon emissions and also save the City on operating costs.

“We are proud to play a role in the City of Woodland’s sustainability goals,” commented Xiaofeng Peng, Chairman and CEO of SPI Energy. “The electrification of fleet operators presents a massive market opportunity, and Phoenix Motorcars continues to prove its ability to meet the growing demand with innovative solutions, offering public and private customers full support for their EV initiatives.”

The ZEUS 500 Electric Service Truck is built on the Ford E-450 chassis with a Knapheide body, comes fitted with customized configurations for the city, and offers a range of up to 110 miles from its 105-kWh lithium-ion battery pack. The trucks are equipped to be both Level 2 and Level 3 charging capable and come with advanced telematics solutions to support the city’s needs.

Phoenix Motorcars and the City of Woodland secured funding for the vehicle through Sacramento Metropolitan Air Quality Management District (SMAQMD)’s Sacramento Emergency Clean Air Transportation (SECAT) funding. Funding for vehicles and infrastructure was coordinated between Phoenix Motorcars and City of Woodland, leveraging local AQMD and utility funding programs.

About Phoenix Motorcars

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 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.

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.

SPI Energy Co., Ltd.

Contact:

IR Department
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