SPI Energy rises as unit secures long-term supply deal

SPI Energy Co

09/12/2021 13:22

** Shares of renewable energy co  SPI.O  climb 6.5% to $4.60
premarket 
    ** SPI unit Phoenix Motorcars enters into a long-term supply
agreement with Coulomb Solutions Inc (CSI) for lithium iron
phosphate (LFP) battery systems  urn:newsml:reuters.com:*:nACS4CMY1a
    ** Delivery of the LFP battery systems will begin in Q1 2022
    ** CSI is the North American distributor of China's EV
battery maker Contemporary Amperex Technology Co Ltd (CATL)
 300750.SZ 
    ** "This two-year agreement for CATL commercial battery
systems from CSI will enable us to meet the growing demand for
our commercial EVs in the US market" - SPI CEO Denton Xiaofeng
    ** SPI is down 45.25% YTD

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))