Yet another installation, capacity 2.75 megawatts (MW), is now coupled to the central electrical network in China, generating income

Soltech’s subsidiary ASRE has now attained a total of twenty-nine coupled installations, equivalent to a sum total capacity of circa 34.71 MW. Calculated on a rolling 12-month basis, these coupled installations are estimated to generate approximately 51.36 MSEK (5.14 MEUR) in annual income with a good margin of profit. As ASRE is consolidated into the SolTech concern in accord with the Proportional Method, SolTech’s share of this income will be 51 percent.

CEO Frederic Telander comments:
-We are now in the completion phase regarding the construction of several solar energy installations. This is the first to be coupled in June, but we are expecting an additional number to be coupled in the coming weeks.

For more information, please contact: Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com

The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 12 June 2018, 07:00 CET.

SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with ca. 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China (below is more info on ASRE). The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.

Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installation, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (100 MEUR).

Release

Swedish solar company, SolTech Energy Sweden AB (Publ) has joined the Climate Bonds Partners Program. SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential.
Partners assist in developing climate finance solutions, market development committees and help define policy agendas for national, regional and sector-based programs.

SolTech Energy group has a total of two green bonds listed on Nasdaq Stockholm. The third will be issued in June by SolTech Energy’s subsidiary, ASAB (Advanced SolTech Sweden AB (publ.) in cooperation with Avanza Bank and G&W Fondkommission. ASAB was the first company to list a retail bond in March 2018 at the launched market Nasdaq First North Sustainable Retail Bonds.
SolTech Energy’s presence on the European and Chinese markets and overall expertise, will add another dimension to the understanding of market features and advocacy around the urgent need to scale up national and regional climate investment.

Frederic Telander, CEO, SolTech Energy
-We look forward to working with the Climate Bonds Initiative to promote climate change action and the global uptake of clean technology. Green finance growth and low carbon investment are vital to the expansion of energy solutions both in Sweden and abroad.

Manuel Adamini, Director Investor Outreach & Partners Programme, Climate Bonds Initiative
-We welcome this partnership with SolTech Energy and the opportunity to cooperate on green finance developments with a leading Scandinavian clean technology development and innovation market player.
We are excited to explore opportunities with SolTech Energy to have more small and medium-sized enterprises (SMEs) access debt markets for green funding. Given SoTech Energy’s more than 15,000 retail shareholders, we also want to look for opportunities to mobilize citizens’ savings to fund a low carbon future.”

SolTech contact:
Frederic Telander
CEO Advanced SolTech Sweden AB (publ) och SolTech Energy Sweden AB (publ)
Tel: +46 8 441 88 46
Mail: frederic.telander@soltechenergy.com

Climate Bonds contact:
Andrew Whiley
Head of Communications & Media
Tel: +44 (0) 7506270943
Mail: andrew.whiley@climatebonds.net

About SolTech Energy Sweden AB (publ.):
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. We offer products that are part of a building’s outer shell in the form of a roof, façade, balcony railings or a window. We offer black and variously colored solar cells, as well as semi-transparent solar cells for the production of electricity that simultaneously shut out solar heat. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Included in the group are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.), ASAB, in Sweden and Advanced SolTech Renewable Energy Hangzhou Co. Ltd, ASRE, in China. The company’s Certified Adviser is G&W Fondkommission (securities broker). For more info, see: www.soltechenergy.com

Investment in China:
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (100 MEUR).

About Climate Bonds Initiative:
The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. It undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers the Standards & Certification Scheme.

For more information, please visit www.climatebonds.net.

Climate Bonds Partners Program:
Banks, institutional investors, private and non-governmental organizations (NGOs) and governments are eligible to join as Climate Bond Partners to help grow a market of green and climate bonds.
Partners support investor and stakeholder outreach and education projects centered on growing robust and sustainable green bond markets that contribute to climate action and low carbon investment.
Partners assist in developing initiatives to grow investment in climate finance solutions, participate in different market development committees & help define policy agendas for sector, country & sub-national green bond development programs. A list of Partners is available here.

Release

On June 1, 2018, China publicized a new subsidy policy for roof-installed solar electric production. For SolTechs jointly held company in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE), this means the existing subsidy intake of ASRE’s coupled installations totaling 32 MW will continue according to the old model until their 20-year contracts end. But for the 12 MW (megawatts) under construction, as well as the 25 MW on back order, this new policy means a probable reduced income of circa 10 percent over the term of their contracts, when compared with earlier published estimates. ASRE’s considered view, however, is that this reduction can be compensated for by lower installation costs and reduced rebates for produced and sold solar electricity, along with the on going higher effectiveness of the solar cells over time.

Background
Of the total circa 100 GW of solar electricity installed throughout the world in 2017, China stood for a good 52 GW. A significant motivating factor has been China’s subsidies to solar electricity, where roof-installed solar electricity has been favored at cost to ground-installed units. The strong growth has therefore been especially favorable to suppliers of roof-installed solar electricity, but at the same time it has also resulted in greater competition for customers. In order to seal contracts with the most attractive customers, with large roof surfaces and high priced electricity, many suppliers have made use of government subsidies to offer notably large rebates relative to those offered by a customer’s normal supplier. This has worked to drive growth in the market even higher. In order to lessen the risk of overheating, the NDRC, National Development and Reform Commission, has released a new subsidy policy. The government’s hope is that by so doing the market’s growth can be controlled and simultaneously work to keep out unethical players who install projects of lower quality.

The immediate effect of the new policy is that the central government’s subsidy per produced kWh for roof-installed solar electricity, as of June 1, 2018, is reduced from the previous standing rate, 0.37 Chinese Yuan (CNY), to 0.32 per kWh. The NDRC has also set a ”ceiling” of 10 GW for subsidy entitled roof-installed solar electricity for 2018.

The subsidies granted by the local government in Zhejiang Province, and certain districts in Hangzhou, however, remain unchanged and are paid out as before over, respectively: 20, 5 and 3 years.

The effect on ASRE
ASRE’s income from an installed capacity of 32 MW, which is coupled to the central network, is not affected by these changes. The subsidy per kWh from the central government applies in all respects for 20 years and at the rate that applied/s when the instillation was/is registered with the relevant authorities before construction.

CEO Frederic Telander comments:
-The policy changes in large part meet both our own and ASRE’s expectations. We have been prepared for just such an adjustment for quite some time and have also communicated that this was coming in the prospectuses we’ve published, with respect to the issue of both new shares and bonds. It is our absolute conviction that ASRE could successfully adapt to a system without subsidies, whether from a central or province government, the city of Hangzhou or the district.
Given the conditions that currently prevail, we are convinced that ASRE will be able to generate the same level of earnings without subsidies as we have today with these subsidies. This, through lower installation cost per watt, reduced rebate per kWh to the customer, a gradual increase the price of electricity over time – and not least – more effective solar cells. ASRE’s thin-film technology namely produces circa 5 – 10 percent more electricity per installed watt/year compared with silicon cells in China.

For more information, please contact:
Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com

SolTech Energy in brief:
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China – more info on ASRE appears below. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com

Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (100 MEUR).

Release

SolTech’s jointly owned company in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd, has signed an order with Jiangsu Youjla Gloves Ltd. The order covers the installation of a 2-megawatt (MW) solar energy unit estimated to provide annual earnings amounting to approximately 2.23 MSEK (230,000 EUR). Over the contract’s 20-year term, cumulative income is estimated to total approximately 44.6 MSEK (4.46 MEUR).

The installation will cover a roof surface measuring circa 2 hectors (ca. 20,000 sq. m) and annually produce circa 2,100,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over 20 years. Over this same period, ASRE receives subsidy payments from the central government based on every kilowatt-hour (kWh) delivered to its customers. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 13.5 MSEK (1.35 MEUR). The installation is estimated to be completed during the third quarter of 2018.

CEO Frederic Telander comments:

– Jiangsu Province, with a population in the area of 2,100,000, lies adjacent to Shanghai and is a region undergoing strong development. Business possibilities here – and in the whole of China – are, conservatively put, comprehensive; and we have only begun our journey. Our on-going new bond issue in our subsidiary Advanced SolTech Sweden AB (publ.), together with Avanza Bank and G&W Fondkommission, is a channel in the plan for the continued financing of our expansion in China. By lowering the installation cost per watt and reducing the customer-rebate per produced kWh, combined with a gradually higher price of electricity over time and – not least – more effective solar cells, we have the means to fully compensate for the Chinese central government’s adjustment of the subsidy levels and retain the same earnings on invested capital that existed before this reduction notification.

For more information, please contact: Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com

Release

SolTech Energy’s annual shareholder meeting was held at 6:00 PM, on May 29, 2018, at Nasdaq Stockholm’s facilities on Tullvaktsvägen 15, Stockholm.

Adoption of income statement and balance sheet
The annual meeting adopted the income statement and balance sheet of the parent company, as well as the income statement and balance sheet of the concern for the financial year 2017.

Result disposition
The annual meeting determined that no dividend would be paid out for the financial year 2017, and further, that the accumulated result, 66,674,090 SEK, would be carried forward in accord with what appears on the (statutory) administration report.

Board of Directors and Chief Executive Officer
ÅThe annual meeting granted the board of directors and chief executive officer discharge from liability for operational year 2017

The annual meeting reelected the board members Göran Starkebo, Ninna Engberg and Frederic Telander. Stefan Ölander was reelected chairman of the board.

Accountants
The annual meeting decided to reappoint the authorized public accountant firm of PwC, with the authorized public accountant Bo Åsell as auditor in charge.

Board member and accountant remuneration
The annual meeting decided that board of director remuneration would amount to 150,000 SEK to the chairman of the board and 100,000 SEK to each of the other board members who are not employed by the concern. Remuneration to the accountant will be paid out periodically in accord with approved invoices.

Other proposals and decisions
The annual meeting decided to approve the board’s proposal in accord with the meeting notification concerning:
• New articles of incorporation that address diverse minor ”formality-oriented” faults.
• Renewed authorization to decide about new share issues, and/or convertibles, and/or warrants.
• Introduction of a new options program intended for incentive programs.

FOR FURTHER INFORMATION, CONTACT
Stefan Ölander, Chairman Board of Directors, SolTech Energy Sweden AB (publ.). Telephone: 070–739 80 00, email: stefan.olander@soltechenergy.com More info available at www.soltechenergy.com.

SolTech Energy in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are a part of a building’s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 15,000 shareholders. Also included in the concern are its jointly owned (51%) companies Advanced SolTech Sweden AB (publ.) (ASAB) in Sweden and Advanced SolTech Renewable Energy Hangzhou Co. Ltd (ASRE) in China. The Company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com

Release

The Ereim concern has placed a new order for SolTech ShingEl worth approximately 2.4 MSEK (240,000 EUR) for its residential development, Brf Läkeörten (roughly: Läkeörten owners’ co-op assn.), in the Jönköping region, and further deepens its cooperation with SolTech Energy.

By choosing SolTech ShingEl – which is both a solar cell and roofing material, in one and the same product – the buyer obtains two very cost-effective functions within the same solution. ShingEl is as well suited to the construction of new roofs as it is to the renovation of existing roofs. In fact, the product is suitable to all who wish to make use of solar cells for more than just the production of energy; namely, also as roofing. In addition to this order, SolTech will also be working together Ereim with the intention of developing a new environmental concept for the benefit of future residential housing developments.
Ereim’s Brf Läkeörten is a residential housing development with a total of 29 resident-owned dwellings in the form of row and semi-detached houses. The development’s building start took place during the fall of 2018 with all roofs composed of ShingEl, which lends an esthetic unity to the whole.

SolTech´s CEO Frederic Telander comments:
-We are very pleased over having received yet another order from Ereim, as a follow up to the ShingEl order it had placed in December 2017 for installation at Brf Skogshöjden. Ereim builds energy effective, sustainable houses and has sold over 800 homes throughout Sweden since the concern first started building in 2010. Having SolTech ShingEl become a part of this building developer’s standard selections is significant evidence that the product is attractive and wholly in line with the times.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Energy Sweden AB (publ.) intends to publish the Company’s annual financial statements for 2017 on Monday, the 14th of May 2018, rather than in the previously notified last week of April (18th week of 2018). The reason for this change is that providing the financial statements of the Chinese company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd, has taken a longer time than expected, due to the strong expansion of the company’s operation.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Energy’s jointly owned company in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd, ASRE, has signed an order with Shenzhen China Star Optoelectronics Ltd. The order covers the installation of a 2.16 MW (megawatt) solar energy unit estimated to generate annual income amounting to approximately 2.38 MSEK (.23 MEUR). Cumulative income over the contract’s 20-year term is estimated to mount to approximately 47.6 MSEK (4.5 MEUR).

The installation will cover a roof surface measuring circa 2.16 hectors (ca. 21,600 m2), with an annual production capacity of circa 2,160,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the contract’s 20-year term. Over this same period ASRE receives subsidies from the central government based on every kWh (kilowatt hour) delivered to the customer. Investment in the installation, which continues to be own by ASRE, amounts to approximately 16.44 MSEK (1.56 MEUR). The installation is estimated to be completed during the third quarter of 2018.

CEO Frederic Telander comments:
– The region of Shenzhen, which borders Hong Kong, is thought by many to have passed Silicon Valley as the world’s hottest area in terms of technological development. Business possibilities here – and in all of China, for that matter – are, mildly put, comprehensive; and we’ve just begun our journey. Last year, we didn’t have sufficient capital to take advantage of all the business possibilities we encountered in China. We have therfore established cooperative relationships with several partners within the financial area, and now consider we have created the right conditions for successfully increasing the pace of growth.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech’s subsidiary ASRE has now coupled a total of 28 solar energy installations, equivalent to a sum total capacity of 31.96 MW, to the central network in China. Calculated on a cumulative 12-month rolling basis, these coupled installations are estimated to generate income amounting to approximately 48.26 MSEK (4.8 MEUR) with a handsome margin of profit. As ASRE is consolidated into the SolTech concern in accord with the Proportional Method, the concern’s share of this income is 51 percent.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Fasad is a solar cell facade that replaces traditional facade materials. SolTech has, together with its cooperation partner Sapa Building Systems, developed a façade framework for attaching solar cells that will be launched at the Nordbygg convention on April 10, 2018. One of the advantages of this solution – in addition to its esthetic merits – is that the investment cost incurred for the solar cells is recovered within only two years, since the price per square meter is only marginally higher than a traditional plaster paneled facade. The alternative, i.e. installing solar cells outside the surface of an existing facade, is significantly more expensive, making the time-period required to recover the solar cell investment significantly longer.

CEO Frederic Telander Comments:
– Ever since SolTech was first created and built on the strength of its own resources, we have – together with our partners – developed products. This solar cell attaching solution for SolTech Fasad is an example of one such product that has emerged through our productive cooperation with Sapa and Hydro. We see, without question, great potential for this product that is not only strongly competitive economically but, at the same time, also very attractive, esthetically.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

SolTech Fasad
SolTech Fasad is a ventilated cold facade made up of solar cells that are attached within an aluminum profile framework. It replaces other building materials, such as: brick, sheet metal, plaster or façade panels. And since the solar cells are also the façade, the investment in the solar cells is a supplemental cost in relationship to the cost of investing in a traditional façade, with a very short investment recovery timespan, calculated on the basis of the monetary return on the electricity produced. SolTech also produces special fitting-components that make possible installation on an existing building, regardless the surface and appearance. SolTech Fasad has an installed effect of 100 – 123 Wp/kvm, dependent the color chosen, from an available selection of gray, green, terra cotta, blue, bronze, yellow and black.

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