SPI Energy Acquires Consumer Contracts of Petersen-Dean, Inc., One of the Largest Privately-Held Roofing/Solar Companies
(The Magazine Plus Editorial): – Pleasanton, January 6, 2021 (Issuewire.com) – SPI Energy Co., Ltd. (NASDAQ: SPI) (the “Company”), a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions to business, residential, government, logistics, utility customers and investors Announced today that SolarJuice American, Inc., a wholly-owned subsidiary of the company, has signed the consumer contracts of Petersen-Dean, Inc., one of the largest private full-service roofing and solar companies in the United States.
Petersen-Dean had annual sales of $ 300 million to $ 400 million with favorable profit margins prior to COVID-19. “Acquiring these consumer contracts could save thousands of jobs in the US that were at risk after Petersen-Dean’s June 2020 Chapter 11 filing. This is also a huge win for us as we work to accelerate our penetration of the vast US markets and create better renewable products and services for US residential customers, ”stated Xiaofeng Peng, Chairman and CEO of SPI Energy.
Petersen-Dean was founded in 1984 and was one of the largest independent solar and roofing companies in the country, specializing in new residential construction. At peak times, the company employed nearly 3,000 solar and roofers in nine states: Arizona, California, Colorado, Florida, Hawaii, Louisiana, Nevada, Oklahoma, and Texas.
The U.S. installed 3.8 gigawatts (GW) of solar PV capacity in the third quarter of 2020 to achieve a total installed capacity of 88.9 GW, which is enough to supply 16.4 million American households with electricity. Wood Mackenzie predicts annual growth of 43% in 2020, with more than 19 GW installations expected. Overall, the US solar market will install more than 107 GW of solar over the next five years.
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, private, government, logistics and utility customers as well as investors. Providing a full range of EPC services to third party project developers, the company develops, owns and operates solar projects that sell electricity to the grid in several countries including the US, UK, Greece, Japan and Italy. The company is headquartered in Santa Clara, California, and has global offices in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in environmentally friendly industries such as battery storage and charging stations, leveraging the company’s expertise and growing base of cash flow from solar projects, and funding the development of projects in agriculture and other markets with significant growth potential.
For more information about SPI Energy and its subsidiaries, the company encourages shareholders, investors and other interested parties to read the company’s public filings and press releases available in the Investor Relations section at www.SPIgroups.com or at www.sec. Government.
About SolarJuice Inc.
SolarJuice Co., Ltd. (SolarJuice) is a leader in system solutions for renewable energies for the private and small commercial market. SolarJuice was founded in 2009 and is headquartered in Sydney, Australia. The company offers a complete solution for solar modules, inverters and battery systems. Since its inception, the company has served over 3,000 B2B accounts and 400 customers. SolarJuice also plans to expand its supply chain and upgrade its technology platform, as well as expand product delivery across the Asia Pacific region and North America.
About Petersen Dean Inc.
Petersen-Dean, Inc. was founded in 1984 and specializes in roofing and solar systems in residential areas in the USA. The company works with some of the largest builders and developers in the country on its rooftop and solar systems. With more than a million roofs, the Pleasanton, CA-based company employs nearly a thousand installers and operates in five states: California, Florida, Nevada, Colorado, and Texas. Please visit http://www.petersendean.com/ for more details.
This press release contains forward-looking statements as defined in the Private Litigation Reform Act of 1995 that involve significant risks and uncertainties. Forward-looking statements may be identified by the use of words such as “may”, “could”, “will”, “intend”, “should”, “could”, “may”, “would”, “continue”. “Expect,” “believe,” “anticipate,” “estimate,” “predict,” “forecast,” “potentially,” “plan,” “seek,” and similar expressions and variations or the negatives of these or other similar terms 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 publication. Actual results could differ materially from the company’s current expectations based on a number of factors. These factors include, but are not limited to, the Coronavirus (COVID-19) and the impact of the outbreak and related actions, adverse changes in general economic and market conditions, competitive factors including, but not limited to, pricing pressures and new product launches. Uncertainty about customer acceptance of new product offerings and market changes, risks associated with managing business growth, and other risks and uncertainties described in the “Risk Factors” section of the company’s Annual Report on Form 20-F with the Securities and Exchange Commission . Unless required by law, the company assumes no responsibility for revising or updating forward-looking statements.
SPI Energy Co., Ltd.
Email: [email protected]
RedChip Companies, Inc.
Phone: (407) 491-4498
SOURCE: Petersen-Dean, Inc.