Edward Monfort to Bring Two of His Latest Inventions to Market With Phoenix Motorcars
SANTA CLARA, CA / ACCESSWIRE / January 4, 2021 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced Phoenix Motorcars, a wholly owned subsidiary of the Company's EdisonFuture subsidiary, appointed Edward Monfort as its new Senior Vice President.
Mr. Monfort brings a long track record of successful business experience in the electrical, manufacturing, and automotive industries, including products developed and used by NASA, Ford dealers, Home Depot, and other large companies around the world. His extensive experience and knowledge of electricity, automation, thermal dynamics, and vehicle production allowed him to invent and patent four inventions that raised more than $60 million and generated over $100 million in sales globally, including the Ronaele Mustang, COLDfire process, and electric truck and bus companies.
Building on his past experiences, Mr. Monfort created the first ever electric F150 conversion using all OEM parts except the engine block and created the first ever working all-electric 80-passenger school bus used for transportation in Northern California. With Mr. Monfort now on-board, two of his biggest inventions will be brought to market with Phoenix Motorcars:
- "Smart Plate technology" will allow any truck manufacturer in the world to convert any of their New or Used ICE trucks to 100% electric all while using lithium batteries and or fuel cell technology, drastically reducing costs and complex production processes.
- "Smart Battery Technology" will allow batteries to be produced with a small cost-effective computer chip that monitors every battery cell's health, providing massive amounts of information for telematics. This technology will allow the overall efficiencies of the high voltage batteries to be significantly increased thus providing longer driving ranges for end customers.
More of Mr. Monfort's inventions are in development which could further accelerate electric truck and bus adoption globally while helping Phoenix Motorcars meet growing demand through efficient and cost-effective methods.
"Ed is a terrific addition to the Phoenix Motorcars' team," stated Tarek Helou, COO of Phoenix Motorcars. "He brings a level of experience that is extremely difficult to find in a young industry like the EV market. I am confident he will be a great asset to our team and I look forward to working with him to create tremendous value for our company and shareholders."
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, 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.
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.
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.
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SOURCE: SPI Energy Co., Ltd.