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Solar Power, Inc. (SOPW)

- OTCQB
  • Wed, Apr. 22, 3:18 PM
    • Today's notable tech gainers include mobile game developer Glu Mobile (GLUU +8.2%), Chinese mobile app developer Cheetah Mobile (CMCM +8.1%), pico projector module developer MicroVision (MVIS +7.6%), Chinese analog/mixed-signal chipmaker Vimicro (VIMC +11.5%), IT services firm WidePoint (WYY +6.2%), mobile ad network owner Millennial Media (MM +5.6%), data discovery software vendor Datawatch (DWCH +15.7%), and RF backhaul hardware vendor Ceragon (CRNT +11.3%). The Nasdaq is up 0.4%.
    • Notable decliners include Chinese solar module vendor/project developer Yingli (YGE -5.1%) and U.S. solar installer Solar Power, Inc. (OTCQB:SOPW -5.1%). Most solar peers are higher.
    • Cheetah Mobile and Vimicro have joined several other Chinese tech firms in surging following an overnight rally in Shanghai. Glu's gains come ahead of the company's April 29 Q1 report. Datawatch's gains come after the company posted nearly in-line FQ2 results and stated has laid off almost 15% of its workforce; shares had tumbled in January thanks to an FQ1 warning.
    • Previously covered: SolarCity, ASML, Cree, Broadcom, Angie's List, Yelp, Adtran, Novatel, SuperCom, Tremor Video, Dolby, Procera, Castlight, Zhone, CalAmp
    | 10 Comments
  • Fri, Apr. 17, 10:32 AM
    • Distributed energy storage system provider ZBB Energy (NYSEMKT:ZBB) has struck a deal to supply 40MW of systems to solar project developer Solar Power, Inc. (OTCQB:SOPW) over 4 years. The deal is estimated to be worth $80M-$120M.
    • As part of the agreement, SPI is buying 8M ZBB common shares at $0.6678 apiece (40% below current levels, good for proceeds of $5.3M), and $28M worth of convertible preferred shares. The preferred shares are "only convertible upon the completion of specific procurement milestones."
    • Following the investment, ZBB, whose systems combine batteries with power management hardware, will have over $45M in cash. The deal also "contemplates" granting SPI a warrant to buy 50M ZBB common shares at $0.7346 apiece (proceeds of $36.7M).
    • ZBB chairman Paul Koeppe, whose company sports a $43M market cap: "This agreement gives us immediate access to regions and countries where we lack a presence today ... In addition, we expect this partnership to completely change the paradigm at ZBB from development stage to a high growth manufacturing company."
    • SPI chairment Xiaofeng Peng: "This partnership ... is all about accelerating global solar penetration through the marriage of solar plus storage. Energy storage systems are becoming vital to PV system expansion worldwide due to a number of factors..." SolarCity, SunEdison, and others have also shown an interest in pairing solar systems with battery-based storage.
    | 3 Comments
  • Nov. 21, 2014, 6:45 PM
    | 46 Comments
  • Sep. 6, 2013, 12:17 PM
    • Solar Power (SOPW.OB) CFO Jim Pekarsky resigns to join a private company. He held the position since Nov. 2011.
    • Charlotte XI will act as interim CFO. She has previously served as VP of operations at Canadian Solar and as director of accounting at ARAMARK.
    | Comment!
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Company Description
SPI is a leading vertically integrated photovoltaic (PV) solar developer that designs, engineers and constructs complete PV solar energy facilities (SEF). The company develops SEFs to provide onsite electricity production for industrial and commercial enterprises. It also develops utility-scale... More