SHANGHAI, Oct. 31, 2016 /PRNewswire/ -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that Solar Juice Pty Limited ("Solar Juice"), a subsidiary of the Company and the largest importer/distributor of solar related products in Australia, was selected by LG Chem, Ltd. ("LG Chem") as a major distributing partner of its RESU home energy storage, with a capacity of 10kWh Batteries in Australia and New Zealand.
Solar Juice is the first distributor of the LG Chem RESU3.3 (48V, 3.3kWh) and RESU6.5 (48V, 6.5kWh). The newest RESU10 (400V, 10kWh) batteries are expected to be commercially available in late 2016.
"With its long lifespan and top-notch quality, the LG Chem RESU batteries are fully capable of stored solar-energy usage during night time and thus significantly reduces electricity expenses for households with installed solar PVs. Australia is an ideal market for home energy storage, where over 1.5 million households, or approximately 1 in every 4 homes, currently have installed solar PVs. As a result, Solar Juice is well positioned to capture this large and growing market opportunities as a leading wholesale distributor," said Mr. Xiaofeng Peng, Chairman and CEO of SPI Energy.
"We are very excited to introduce LG Chem's new RESU series to the Australian market. High energy densities and outstanding performances of the new RESU series are superior to those of other products. The new RESU series cover both indoor and outdoor installations with both low and high voltage options available." says Rami Fedda, Cofounder and Supply Director of Solar Juice.
"The storage market opportunity in Australia is tremendous, and Solar Juice is delighted to be partnered with one of the leading players in this space. For a country that has been one of the largest residential PV markets over the past five years, we are about to witness a massive transformation with the adoption of storage, and Solar Juice is well-positioned at the forefront of this change." added Rami Fedda, Cofounder and Supply Director of Solar Juice.
"LG Chem is very pleased with the great success Solar Juice has achieved with our first generation of RESU product. Furthermore, we are excited by great interest Australian market has showed, regarding our new RESU series. We are looking forward to becoming more active in Australian energy storage market by cooperating with Solar Juice," said Jin Yong Park, Director of LG Chem.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.
About Solar Juice Pty Limited
Incorporated in Sydney, Australia, Solar Juice Pty Limited ("Solar Juice") is a subsidiary of SPI Energy Co., Ltd. and a leading solar wholesale supplier in Australia. Solar Juice distributes solar kits, including PV modules, balance-of-system components, solar monitoring systems and inverters, to corporate or retail customers in Australia and Southeast Asia. A third-party consultancy has ranked Solar Juice as the No.1 solar product distributor in Australia based on wholesale volume in 2013-2015. As of December 31, 2015, Solar Juice had over 3,000 business-to-business accounts, of which approximately 700 were active monthly.
For additional information, please visit www.solarjuice.com.au.
About LG Chem
LG Chem, Ltd. is Korea's largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries field. Based on the many years of experience in the development and production of batteries, LG Chem is one of the world's leaders in energy storage systems. As such, the company is a primary supplier for the mobile and automotive industry around the world. Entering the business of ESS in 2010, LG Chem has constantly developed and supplied innovative solutions for the ESS market segments such as Grid, Residential and UPS. Throughout multiple production facilities and an extensive distribution network globally, LG Chem has become a global leading company.
For additional information, please visit www.lgchem.com
Safe Harbor Statement
This release contains certain "forward-looking statements." These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
For investors and media inquiries please contact:
Investor Relations Department
SPI Energy Co., Ltd.
+86 21 8012 9135
Tony Tian, CFA
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SOURCE SPI Energy