The cooperation agreement is exclusive with respect to electrical wholesalers and the goal is to successively expand into Rexel’s other 18 solar-energy engaged countries. Rexel will be taking Soltech products into its own warehouses on a regular basis, in order to thereafter directly distribute them to its customers, as well as to its 63 Storel and Selga stores. Initially, the partnership will be focused on SolTech ShingEl, a completely building-integrated solar cell that functions as a roof tile, perfectly suited to laying seamlessly alongside Benders’ Carisma roof tile.
Frederic Telander, CEO SolTech Energy, comments:
”We believed we would see big volume orders via Rexel. That we have now received – directly after we drew up this agreement – a big order for their own stock keeping purposes is proof that Rexel is serious about our cooperation agreement and serious about lying in the absolute forefront of the solar energy branch: A very exciting phase of SolTech’s journey has begun.”
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 6 November 2017, 07:00 CET.
Rexel in brief
Rexel Sverige AB is a part of the world-leading French electrical wholesale concern, Rexel Group, operating in 32 countries on four continents. In Sweden, Rexel has established a strong position with circa 700 employees, working in 62 locations and annual sales (2015) amounting to approximately 4 billion SEK (400 million EURO). With a well-developed logistical system, Rexel offers high accessibility in the Swedish market including the establishment of sales locations from Norrland to Skåne via its Selga, Storel and Moel wholesale outlets. Rexel has actively chosen to lead the way within renewable energy and environmentally friendly solutions that work to make the means and use of energy in Sweden more effective. Rexel does this within its specialized wholesale business operation, Rexel Energy Solutions. Rexel’s expertise is focused on the innovative use of modern technique for the purpose of creating “smarter” buildings and is Sweden’s biggest distributor/wholesaler within the solar energy sector.
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 shade out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 12,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
The cooperation agreement is exclusive with respect to electrical wholesalers and the goal is to successively expand into Rexel’s other 18 solar-energy engaged countries. Rexel will be taking Soltech products into its own warehouses on a regular basis, in order to thereafter directly distribute them to its customers, as well as to its 63 Storel and Selga stores. Initially, the partnership will be focused on SolTech ShingEl, a completely building-integrated solar cell that functions as a roof tile, perfectly suited to laying seamlessly alongside Benders’ Carisma roof tile
Mikael Bill, product director Rexel Sverige AB, comments:
“The solar energy market continues to pick up speed, and the growth of many of our solar energy customers this year has been strong. We have experienced great demand for building-integrated, and thereby, esthetic solar energy. SolTech Energy’s product portfolio contains many exciting and innovative products that are absolutely right for the times, and hold – in our view – a high level of quality. We are therefore very pleased with this contract and see great business possibilities together in Sweden.”
Frederic Telander, CEO SolTech Energy, comments:
”We are very happy with this contract, which both solves our need of distribution and, with great probability, paves the way for a steadily higher volume of sales. SolTech’s strategy is to be a material supplier and, with this contract, we reach all of Sweden’s solar-energy installation companies, electricians, as well as building and real estate companies, seeking to buy directly from a wholesaler. The realization of a “second-stage” where we can easily expand our contract to 18 countries is an enormous possibility for SolTech Energy. We have the production capacity. This contract now secures our capacity to supply and growth within the sector – and at the same time – it is a lift for the launch of SolTech ShingEl.”
For more information, please contact:
Frederic Telander, CEO SolTech Energy Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com
Mikael Bill, product director Rexel Sverige AB Tel: 08 556 214 08, email: mikael.bill@rexel.se
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 2 November 2017, 07:00 CET.
Rexel in brief
Rexel Sverige AB is a part of the world-leading French electrical wholesale concern, Rexel Group, operating in 32 countries on four continents. In Sweden, Rexel has established a strong position with circa 700 employees, working in 62 locations and annual sales (2015) amounting to approximately 4 billion SEK (400 million EURO). With a well-developed logistical system, Rexel offers high accessibility in the Swedish market including the establishment of sales locations from Norrland to Skåne via its Selga, Storel and Moel wholesale outlets. Rexel has actively chosen to lead the way within renewable energy and environmentally friendly solutions that work to make the means and use of energy in Sweden more effective. Rexel does this within its specialized wholesale business operation, Rexel Energy Solutions. Rexel’s expertise is focused on the innovative use of modern technique for the purpose of creating “smarter” buildings and is Sweden’s biggest distributor/wholesaler within the solar energy sector.
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 shade out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 12,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.
The installation is estimated to cover a roof surface measuring circa 3.4 hectares (34,000 square meters), which is equivalent to the area of nearly five football fields. And its annual production is estimated to total circa 3,400,000 kWh. The customer is committed to buying all the electricity the installation produces over the contract’s 20-year term. Parallel with this, ARSE receives subsidies from both the central and regional governments over these 20 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 23.32 MSEK (2.4 MEUR), and it is expected to be completed during the second quarter of 2018.
CEO Frederic Telander comments:
Business pressure remains high in China and we are happy over having signed yet another order in our home city. In order to meet demand, we are now working hard with an array of different financing solutions that will enable us to contract even more business deals in the near term.
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 31 October 2017, 07:00 CET.
SolTech Energy AB (publ.) in brief
SolTech Energy is a Swedish solar energy company that specializes in developing and implementing esthetically attractive solutions that enable every building to produce more energy than it consumes. SolTech Energy develops its own products, which are based on research carried out at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology) and are a part of a building’s outer shell that produce hot water or electricity. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other retail venues, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic region. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor, with respect to its listing on Nasdaq First North, 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 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 2017 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 (103 MEUR).
Over the course of the year, ASAB and Danske Bank established a structure for a green bond issue. However, after a careful evaluation of the criteria that Danske Bank’s network of investors wished to see fulfilled, the partners have chosen to terminate any further pursuit of this cooperative effort.
CEO Frederic Telander comments:
”As a rule, investors in the institutional market generally take 10% of the total volume and, in this case, they wanted the bond issue to be significantly larger than ASAB had planned. With a greater volume, we run the risk of not being able to convert the money into completed and income producing solar energy installations fast enough, with the consequent follow of increased financing costs.. The institutional investors’ criteria also contained restrictions that made other means of financing the concern’s operation in China – as for example, a public bond issue, bank loans, leasing, etc. – for all practical purposes, impossible. When we weighed the requirements in total, we realized they were neither advantageous to us nor fair to ASAB’s current bondholders. Given this situation, we chose not to further pursue an institutional bond issue.”
A new strategy – making use of our own capital, bonds and bank loans, as well as the introduction of ASAB on the Stock Exchange. SolTech Energy Sweden AB (publ.) and Advanced Solar Power Hangzhou Inc. (ASP) have decided that the following strategy is to be implemented to finance the expansion of solar energy in China through our jointly owned subsidiary ASRE.
- SolTech Energy and ASP intend to jointly provide 6 MEUR (57.6 MSEK) of our own capital during the fourth (4th) quarter of 2017, which shall directly be used to construct solar energy installations that have already been contracted.
- ASAB plans to issue a new Green Bond to the public during the first (1st) quarter of 2018. SolTech Energy’s shareholders and ASAB’s current bondholders will have preference to its subscription.
- With the aim of further developing SolTech Energy’s business area, and simultaneously facilitate the financing of our Chinese operation, the concern plans to have ASAB introduced, assuming application approval, on the Nasdaq Stock Exchange during the second (2nd) quarter of 2018, on First North at Nasdaq Stockholm. Consequently, this listing will be preceded by a reorganization, where after, ASAB will own 100% of ASRE’s stock. The current owners of ASAB stock are SolTech Energy (51%) and our Chinese partner (49%).
- In addition to the 34 MSEK loan that ASRE recently secured from the Bank of China in August 2017, we are now negotiating further loans with other large Chinese banks.
CEO Frederic Telander comments:
“ We have laid down a great deal of time and money on the bond project with Danske Bank, and it feels disappointing not to have ended it with a sound bond containing sensible requirements. With advantage of hindsight and better forehand information, we would have chosen the above strategy from the very start, as we judge it to be more favorable to the company and the interests our shareholders, which is the most vital mission we strive to achieve.”
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 20 October 2017, 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 shade out solar heat. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 11,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden, and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. 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 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 2017 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 (103 MEUR).
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 4 October 2017, 07:00 CET.
SolTech Energy AB (publ.) 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 shade out solar heat. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 11,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden, and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. 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 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 2017 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 (103 MEUR).
Beginning 2016, SolTech has held an exclusive cooperative agreement contract with Sapa Building Systems AB covering building-integrated solar energy solutions in the Nordic and Baltic regions. One of Sapa’s trademarks is Wicona and this sale represents the first SolTech ST order from a retail seller of Wicona’s products. Existing conditions are optimal as this roof has direct southern exposure. SolTech ST makes possible a glass roof with permanent sun screening that simultaneously produces electricity.
CEO Frederic Telander comments:
“The big value gained here is the establishment of a functioning reference, rather than the monetary worth of the order: This installation visibly demonstrates that a glass roof can produce electricity. Roofs and windows can, with our unique semi-transparent solar cells, also function as sunscreens, which reduces the need to cool the temperature indoors. We foresee a very strong market when architects, technical consultants, construction firms and building owners open their eyes to these facts. This is only the beginning.”
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 26 September 2017, 07:00 CET.
SolTech Energy AB (publ.) 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 shade out solar heat. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 11,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden, and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
The installation is estimated to cover a roof surface measuring almost one hectare (10,00 m2) and produce circa 938,000 kWh annually. The customer is contractually committed to buying all the electricity the installation produces. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 7.4 MSEK (0.78 MEUR). Plans call for the installation to be completed during the opening weeks of the second quarter 2018. With this order, ASRE’s order-book for 2017 amounts to 26.64 MW.
Shaoxing, with a population of four million, is a fast growing city known for its textile industry and as the birthplace of a list of people highly notable for their contributions to Chinese culture. With the inclusion of this installation, ASRE has now signed six orders here. On the east, Shoaxing borders the city of Ningbo, population six million, where ASRE has previously signed orders for nine installations. Bordering Shaoxing on the west is ASRE’s home city, Hangzhou, with a population of 8.7 million and, naturally enough, the city where ASRE has signed the most solar energy installation orders. All three cities are located in Zhejiang Province, China’s third largest provincial economy and exporter, where ASRE has to date undersigned a total of 25 installation orders. The province’s manufacturing is mainly centered on electronics and other industrial/mechanical equipment. 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 21 September 2017, 07:00 CET.
SolTech Energy AB (publ.) 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 shade out solar heat. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 11,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden, and ASRE in China, as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. 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 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 2017 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 (103 MEUR).
Over the past several years, SolTech and Benders have informally discussed a cooperative agreement centered on solar energy solutions, and periodically exchanged ideas and thoughts within this area, where the focus for both SolTech and Benders has always been concentrated on integration, which is to say; on products that fulfill both the function of a roof and simultaneously function as a solar energy solution.
Both parties are now interested in a cooperation agreement primarily covering the marketing/sales of SolTech ShingEl, but also other building-integrated solar cells in SolTech’s product assortment.
- We are pleased and proud of this 7.5 Kw test installation with Benders. The company is market leading within, among other building facets, roofing materials in the Nordic area, and sells, in essence, to all construction firms, single-family home builders, and roofers, as well as all building retail stores and outlets. Together with Benders, we see the creation of great business possibilities as a result of this cooperation, comments Frederic Telander, CEO SolTech Energy.
- At Benders, we’ve marked a growing interest in solar energy solutions and judge that strong growth in this area is now all but imminent. This possibility we shall clearly make the most of. SolTech’s product, ShingEl, is building integrated, esthetic, modern and plainly “right”. The additional fact that the product is compatible with our Carisma roofing tile makes it even more promising, observes David Gidstedt, product responsible for roofing and solar energy at Benders.
For more information, please contact: Frederic Telander, CEO SolTech Energy Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com or David Gidstedt, Benders Sverige AB Tel: 010-888 11 62, email: david.gidstedt@benders.se
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 18 September 2017, 07:00 CET.
Benders in brief
A record of positive development for over 55 years has contributed to the making of today’s Benders, a company working within five different business areas and one of the market-leading producers of roof and paving products in the Nordic region, operating business enterprises in Sweden, Norway, Finland and Germany. At the same time, the areas making up the new markets out in Europe are becoming bigger and bigger, and the other building products offered in Benders’ product assortment – for example, natural stone, infrastructure, walls and insulation – continue to grow from one season to the next. Benders is owned by the Benders family, generates 1.7 billion SEK (0.18 billion EUR) in annual sales, and employs 790 people throughout the concern.
SolTech Energy AB (publ.) in brief
SolTech Energy is a Swedish solar energy company that specializes in developing and implementing esthetically attractive solutions that enable every building to produce more energy than it consumes. SolTech Energy develops its own products, which are based on research carried out at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology) and are a part of a building’s outer shell that produce hot water or electricity. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other retail venues, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic region. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor, with respect to its listing on Nasdaq First North, is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
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 5 September 2017, 07:00 CET.
SolTech Energy AB (publ) in brief
SolTech Energy is a Swedish solar energy company that specializes in developing and implementing esthetically attractive solutions that enable every building to produce more energy than it consumes. SolTech Energy develops its own products, which are based on research carried out at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology) and are a part of a building’s outer shell that produce hot water or electricity. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other retail venues, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic region. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor, with respect to its listing on Nasdaq First North, is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Investment in China
SolTech’s 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 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 2017 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 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 current annual sales amounting to approximately 1 billion SEK (103 MEUR).
Recently, ASRE has marked a growing interest in the company from various financial players – most notably, from investment firms seeking to place capital in securities offering long-term favorable yields for their own customers. ASRE’s goal is to finance, install and operate solar installations totaling 605 MW (megawatts) in 2022. This figure would then include the capacity sold annually with the proceeds having been reinvested the following year. According to the new strategy, these sales are planned to take place at the close of every year during the period spanning 2017-2022, with the sum total capacity sold not expected to exceed 187.6 MW at the highest.
CEO Frederic Telander comments:
Together with our partner, Advanced Solar Power, we have discussed and analyzed this plan for an extended period of time. It feels natural to take advantage of this new capitalization option when the opportunity presents itself. In part, the sale of installations generates a good sales result and profit, but at the same time it also demonstrates that there is a great realizable value in our solar energy installations in China. Simply put, it means that 5 sold MW are sufficient to construct and set into operation 6 MW in the following year.
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 24 August 2017, at 07:00 CET.
SolTech Energy AB (publ.) in brief
SolTech Energy is a Swedish solar energy company that specializes in developing and implementing esthetically attractive solutions that enable every building to produce more energy than it consumes. SolTech Energy develops its own products, which are based on research carried out at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology) and are a part of a building’s outer shell that produce hot water or electricity. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other retail venues, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic region. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor, with respect to its listing on Nasdaq First North, 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 is the majority (51%) owner and Advanced Solar Power Hangzhou Inc. (ASP) the minority (49%) owner. The business model consists of having said jointly owned company, ASRE, responsible for the financing, installation, ownership, and periodic maintenance of 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 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 2017 and beyond, with the goal of obtaining by the close of 2021 an installed capacity of 605 MW (megawatts), which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (103 MEUR).