SPI Energy Launches its Hemp and CBD Business, Partners with Navajo Nation
September 18 2019 - 04:30AM
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 the launch of its newly established hemp and CBD
business.
The Company has recently executed a management services
agreement with the Native American Agricultural Company (“NAAC”) to
cultivate hemp in the Navajo Nation; and obtained licenses from the
Navajo Nation to engage in lab testing, cultivation, processing,
wholesale distribution, and retail sales of hemp. Currently, its
hemp cultivation in the Navajo Nation is being overseen by a
third-party management company on a 36-acre plot of land licensed
by the NAAC. The Company expects to harvest its first crop of hemp
in November 2019.
Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy,
commented, “We are eager to enter the hemp market and happy to be
working with the Navajo Nation. Some estimates have the global
industrial hemp market growing from USD 4.41 billion in 2018 to
close to USD 15 billion by 2026. We want to be part of that growth.
The Navajo Nation and Native American Agricultural Company are
excellent partners for us as we embark on this exciting
venture.”
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is an established green energy player with
global operations in key markets in Australia, Europe, Japan and
the United States. It is leveraging its sizable solar platform and
industry expertise to make strategic investment opportunities in
green industries with significant growth and earnings potential
and/or industries than can benefit from green power.
For inquiries, please contact:
SPI Energy Co., Ltd.IR
DepartmentEmail: ir@spigroups.com
RedChip Companies Bruce Haase (407)
712-8965bruce@redchip.com
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Feb 2024 to Mar 2024
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Mar 2023 to Mar 2024