SPI Energy Provides Update on its CBD Operations
29 January 2020 - 8:30PM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of green energy solutions with strategic
investments in green-energy-enabled products and
services, recently completed the installation of its
cannabidiol (CBD) extraction equipment at a facility in Fresno,
California.
The newly installed CBD extraction equipment is
designed to enable the production of CBD crude oil, distillate and
isolate. Currently, the Company is conducting pre-production
test runs of its CBD crude oil extraction process; completing
quality control review, and self-testing the CBD crude oil that is
being produced.
“We have made significant progress building the
foundation of our CBD operations in California in recent months,”
stated Xiaofeng Peng, Chairman and CEO of SPI Energy. “The Company
has executed toll manufacturing agreements with three local hemp
farms, and we expect to expand our CBD extraction services and
scale our production capacity to match growing demand.”
The Company recently sent demand letters to the
Native American Agricultural Company (NAAC) after it failed to
deliver the hemp crop under the terms of the agreement the Company
entered into with them on July 24, 2019. The Company is now
planning to take legal action against the NAAC to recover the
economic loss.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is an established provider
of photovoltaic solutions with global operations in key markets in
Australia, Europe, Japan and the United States. The Company is
leveraging its solar platform and expertise to make strategic
investment in green industries with significant growth and earnings
potential and/or green-energy-enabled products.
For inquiries, please contact:
SPI Energy Co., Ltd. IR Department
Email: ir@spigroups.com
RedChip Companies Bruce Haase (407) 712-8965
bruce@redchip.com
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Apr 2024 to May 2024
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From May 2023 to May 2024