The acquisition of Din Takläggare is a continued investment in solar energy by acquiring expertise and business in the waterproofing roof industry. In order to deliver the highest quality, it is of utmost importance to have deep expertise in roofing work when building a successful solar energy group. With Din Takläggare, we still add companies in roofing alongside NP Gruppen, Takorama and Takrekondbolagen. Soltech has an option to acquire the remaining 40 percent of the shares in Din Takläggare 2024.

Din Takläggare is a very reputable company in Värmland / Dalsland and the plan is now to gradually expand the business, while maintaining a good profit margin, from current levels of approximately SEK 35 million to approximately SEK 50 million in 2023. The increase in business volume is expected to come from organic growth in combination with that Din Takläggare adds solar energy to its product and service range. In addition, Soltech expects that synergy effects within the Group in terms of joint purchasing, warehousing & logistics, marketing, HR, finance and administration will have a positive effect on earnings. The acquisition of Din Takläggare is financed entirely from its own cash and with newly issued shares in Soltech Energy.

Stefan Ölander, CEO of Soltech Energy in a comment:
– Just like Monday's acquisition of Takrekondbolagen, Din Takläggare has a tradition of high quality and profitability. Now we will together take the company into the future by adding solar energy to their range. We look forward to a successful development together.

Håkan Wennberg, CEO of Din Takläggare in a comment:
– Almost all customers are asking for solar energy today and the decision to sell to Soltech therefore feels completely right. Now we can use our deep expertise in waterproofing roofs to, together with our sister companies, take a good share of the solar energy market in our region.

Eurocommercial is one of Europe's most experienced real estate investors with shopping centers in Belgium, France, Italy and Sweden with over 130 million visits to the malls. The business is concentrated in shopping centers in attractive locations and with a long-term sustainable strategy and high goals for renewable energy. In Sweden, the goal is to get 100% electricity from renewable energy sources on both roofs and parking areas. It is a fantastic project that leads to a greatly reduced climate impact from the large facilities at the same time as Eurocommerical in Sweden gets a cost-effective solution to its energy needs.

– “With this large expansion, we will have solar cells at 100% of shopping centers in Sweden. To be able to do this together with such an experienced and serious supplier as Swede Energy should not only be an exciting journey, we also value the importance the work has for our environment, not at least locally where we have our tenants and visitors. Now the stores not only get green fossil-free electricity but also locally produced, says Patrik Sörnell, Director, Asset Management at Eurocommercial Properties.

With over 30 years of experience behind it, Swede Energy has knowledge of which constructions, elements and installations need to be made to have a future-proof plant. Everything from drawings, strength calculations, construction and engineering has been done by the solar engineers with great accuracy. Several of the shopping centers that receive solar energy on the roof have a few years on their necks and then it is extra important to take into account the strength of the roofs as all panels must load the roof. Today, with current solar panels, Eurocommercial has an annual production capacity of almost 500,000 KWh / year in Sweden. With this investment, capacity will be increased to as much as 2,000,000 KWh / year.

– “Working with the type of forces to which a roof is exposed is not something that can be taken lightly. It is both a question of personal safety in, for example in snowy winters, but also a question of the plant producing efficiently throughout its life, which is often over 20 years, says Christoffer Caesar, CEO of Swede Energy”.

More about Sweden Energy Power Solutions:
Swede Energy has over 30 years of experience in developing innovative and renewable energy plants with a unique design strategy that creates profitable and future-proof electricity production for industrial and commercial properties. www.swedeenergy.se

More about Eurocommercial:
Eurocommercial Properties (Eurocommercial) is a long-term investor and manager of mainly retail properties in Belgium, France, Italy and Sweden with assets over EUR 4 billion. The company was founded in 1991 and is a Euronext listed company with a broad shareholder base. https://www.eurocommercialproperties.com/property/sweden

The acquisition of Takrekond is a continued investment in solar energy by acquiring expertise and business in the waterproofing roof industry. In order to deliver the highest quality, it is of utmost importance to have deep expertise in roofing work when building a successful solar energy group. With Takrekond in Småland and in Kalmar, we are adding two companies in roofing alongside NP Gruppen and Takorama. Soltech has an option to acquire the remaining 20 percent of the shares in Takrekond Småland 2024.

Takrekond has long been a partner of Soltech's subsidiary Takorama and the plan is now to gradually expand the business, while maintaining a good profit margin, from current levels of approximately SEK 25 million to approximately SEK 55 million in 2023. The increase in business volume is expected to come from organic growth in combination with adding solar energy to the product and service offering. In addition, Soltech expects that synergy effects within the Group in terms of joint purchasing, warehousing & logistics, marketing, HR, finance and administration will have a positive effect on earnings. The acquisition of Takrekond is financed entirely from its own cash and with newly issued shares in Soltech Energy.

Stefan Ölander, CEO of Soltech Energy in a comment:
– The Takrekond companies have a tradition of high quality and profitability. Now we will together take the companies into the future by adding solar energy to their range. In this way, we are really changing society in a sustainable direction.

Nils Jansson, CEO of Takrekondbolagen in a comment:
– We at Takrekond notice an ever-increasing demand from our customers to be able to deliver both roof and solar energy systems and have therefore, after more than 30 years of clean roofing operations, chosen to be part of the Soltech Energy Group and thereby broaden our offering with solar cells. For me and all the employees, this step feels really exciting and inspiring.

The terms of the issue of preference shares have been formulated with a forthcoming listing in mind. JOOL Corporate Finance AB has acted as the Company's Corporate Finance advisor in the transaction. SIP Nordic Fondkommission AB has been the organizer and Roschier Advokatbyrå AB legal advisor.

Advanced Soltech's CEO, Max Metelius comments:

• It is very gratifying to see the great interest in investing in Advanced Soltech and we welcome our new shareholders on our continued growth journey. We have a very strong order book and the capital from the issue will primarily be invested in new solar energy facilities, but we will also invest in strengthening important functions within the company prior to the listing. Work on the listing is proceeding according to plan.

Advanced Soltech's Certified Adviser is FNCA, Tel: 08-528 00 399 E-mail: info@fnca.se

About the Operations in China
The operations in China are conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd, ASRE, its wholly owned local subsidiaries and in Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from various forms of subsidies per kilowatt hour (kWh) of solar produced. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.

Advanced Soltechs CEO Max Metelius comments:

• We are very pleased to see a strong demand for green energy solutions in China, which gives a good inflow of new projects with good profitability to ASAB

About the China venture

In China ASAB operates through, its wholly owned local subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd, ASRE and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from subsidies. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024. ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech’s Chinese partner, Advanced Solar Power Hangzhou Inc.
Om Verksamheten i Kina

Advanced Soltechs CEO Max Metelius comments:
– Our team in China continues to sign orders with new customers. This project is carried out completely without any subsidies and shows a profitability well within our goals.

About the China venture
In China ASAB operates through, its wholly owned local subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd, ASRE and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from subsidies. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024. ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.

CEO Stefan Ölander in a comment:
– We are humbly grateful for the trust existing and new shareholders have shown us in this new share issue. We now have the funds we need to exploit the potential of the rapidly growing market and to continue our successful acquisition strategy.

Number of shares and Over-allotment
A total of 7,759,307 shares were subscribed for with the support of subscription rights, corresponding to approximately 95 percent of the Rights Issue, and 48,607,379 shares without the support of subscription rights, corresponding to approximately 595 percent of the Rights Issue. The rights issue was thus oversubscribed by 590 percent.

To enable allotment to those stakeholders who have not been allotted in the Rights Issue and for the purpose of broadening and strengthening the Company's ownership base, the Board has decided to issue an additional 3,840,000 shares in an Over – allotment issue. This is done at a subscription price of SEK 12 per share, which gives approximately SEK 46 million, and on the terms stated in the prospectus regarding the Rights Issue, which gives approximately SEK 98 million.

Through the Rights Issue and the Over-allotment Issue, a total of 12,012,423 shares will be issued and the Company will thus receive SEK 144,149,076 million before issue costs.

Allocation in the Rights Issue
The persons who have subscribed for shares on the basis of subscription rights have been allotted BTA in connection with simultaneous payment. Notice of allotment to the persons who have subscribed for shares without the support of subscription rights is expected to be distributed on 10 September 2020 by sending a settlement note. Allocation to the persons who have subscribed for shares via the nominee is expected to be visible in the account around 15 September 2020. Nominee-registered shareholders will be notified of the allotment in accordance with the respective nominee's routines. Subscribed and allotted shares must be paid for in cash no later than the settlement date, 15 September 2020, in accordance with the instructions on the settlement note. Only those who receive an award will be notified.

Allocation in the Over-Allocation Issue
Notice of allotment to the persons who have subscribed for shares without the support of subscription rights is expected to be distributed on 10 September 2020 by sending a settlement note.

Three groups of investors will be allotted shares in the Over-allotment Issue:

The Board has decided to give a large number of new owners the opportunity to participate in the over-allotment issue with a small investment to further broaden the shareholder base in the Company.

In order to open up a new circle of owners of professional investors, the Board has also decided to give investors who have shown special interest in Soltech, and who are judged to be able to contribute strategically to the Company's development, a certain opportunity to participate in the allotment issue.

Finally, it has been decided that key personnel within all ten of the Soltech Group will be given the opportunity to participate in the over-allotment issue in order to create loyalty, long-term perspective and commitment.

Share capital and number of shares
Following the registration of the Rights Issue and the Over-allotment Issue with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 600,621 to a total of SEK 3,460,969. The number of shares in the Company will thereafter increase by an additional 12,012,423 shares to a total of 69,219,387 shares.

Paid subscribed shares, BTA
Subscription of shares with and without preferential rights took place during the period 24/8 – 7/9 2020. As soon as the share capital increase has been registered with the Swedish Companies Registration Office, paid subscribed shares (BTA) in the rights issue will be converted into new shares. Until then, trading with BTA on the Nasdaq First North Growth Market. Trading in new shares is expected to begin on Nasdaq First North Growth Market around week 41 2020. The persons allotted shares in the directed Over-allotment Issue will not receive BTA but will instead be allotted shares after the share capital increase has been registered with the Swedish Companies Registration Office. This is expected to take place around week 40 2020.

Advanced Soltech's CEO, Max Metelius comments:
China continues to recover from the Corona pandemic and we see strong demand for our offering with many business opportunities as a result. We have several large projects with good profitability in our pipeline and in order not to lose momentum on our growth journey, we now want to investigate the possibility of raising capital in the form of a preference share issue, which also strengthens the company's equity.

For more information contact:
Max Metelius, CEO Advanced Soltech Sweden AB (publ) Tel: 072- 316 04 44. Email: max.metelius@advancedsoltech.com

About the Operations in China
The operations in China are conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd, ASRE, its wholly owned local subsidiaries and in Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from various forms of subsidies per kilowatt hour (kWh) of solar produced. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.
ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced Soltech Sweden AB (publ). ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.

The purpose of the collaboration agreement is for Soltech and PowerCell to develop and participate in projects where the companies’ technology and expertise in desktop applications are utilized. Soltech may integrate PowerCell products as part of Soltech’s energy storage products and also has the right to market and sell such Soltech products in the Nordic countries.

Like many other growing companies, Amokabel has major problems with not gaining access to the power they need from the electricity grid to be able to grow the business. The company therefore needs to find alternative ways of securing the power supply for its operations that will be needed in the near future. Amokabel has now commissioned Soltech’s subsidiary Swede Energy and PowerCell to investigate whether solar energy combined with fuel cells with hydrogen production and storage can be part of the solution. Parameters that are to be investigated include what a system solution can look like to meet both future power needs and how to use the system for power control and to provide the company with uninterrupted power. Amokabel has also ordered an 800kWp solar cell plant from Swede Energy, whose electricity production is intended to be used for hydrogen production, among other things.

Soltech’s CEO Stefan Ölander comments:
“This collaboration agreement with PowerCell and the agreement with Amokabel is a major breakthrough to help all companies and the public sector with the major problem of power shortages in the network. The business opportunities are very large and we are happy and proud that PowerCell chooses our group as a partner ”.

PowerCell Sweden’s sales director Andreas Bodén comments:
“The growing need for energy and, above all, sustainable energy, makes the combination of solar energy and fuel cells extremely interesting. We therefore see great opportunities for stationary power generation based on locally produced and stored hydrogen in combination with fuel cells. ”