The installation is estimated to cover a roof surface measuring circa 8 hectors (80,000 m2) and produce 8,000,000 kWh annually. By way of comparison, this installation is three times bigger than Solsiden located outside Varberg, Sweden’s biggest installation to date. The customer is contractually committed to buying all the electricity the installation produces over 25 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 78.5 MSEK (8.26 MEUR), and it is estimated to be completed during the third quarter of 2017..
Nanjing Gold Dragon Bus Co. Ltd. is a leading manufacturer of Electric Busses, with an annual volume of bus production exceeding 50,000 examples. Nanjing is the capital of Jiangsu Province, which has a population of 75 million and, in common with ASRE’s home-city, Hangzhou, as well as the city of Shanghai, Nanjing lies along China’s heavily populated east coast. In fact, these three highly industrialized Chinese cites are located only two to three hours from each other by car.
CEO Frederic Telander comments:
- ”Unquestionably, our biggest order in ASRE to date, and a breakthrough into the rooftop mega-installation segment. It is twice as large as that of our previous biggest customer, and three times larger than Solsiden, Sweden’s biggest installation. With this order, ASRE has, over the start of this year, already secured a third of the sales plan goal determined for the entire year of 2017. We therefore perceive the possibilities for our products and organization in China as continuing to be very good.”
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 market abuse regulation.596/2014. Said information is furnished, via the above-cited contact person’s authorization, for publication on 1 February 2017, at 07:00 CEST.
SolTech Energy AB (publ.) in breif
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 function as part of a building’s outer shell that produces electricity and/or hot water. 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”. 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 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 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, in combination 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 year 2019 an installed capacity of 230 MW, which in 2020 will be set into full operation, generating current annual sales amounting to approximately 400 MSEK (40.1 MEUR).
The installation is estimated to cover a roof surface measuring 25,000 m2 and produce circa 2,500,000 kWh annually. The customer, Zhejiang Kanglongda Protection Technology Co. Ltd., is contractually committed to buying all the electricity the system produces over 25 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 25 MSEK (2.6 MEUR) and it is expected to be completed during the second quarter of 2017.
CEO Frederic Telander comments:
”With the inclusion of this order, ASRE has already signed, as early as the close of this year’s first month, nearly one fifth of the annual sales total, duly planned and made public, for the entire year of 2017. In short, our business potential in China continues to be realized, and we feel relatively certain that the financing required for our planned investment in China for 2017 will be met through our Advanced SolTech subsidiary’s previously announced cooperation agreement with Danske Bank, relating to the issuance of ”Green Bonds” to the bank’s network of institutional investors and wealthy private individuals.”
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 market abuse regulation.596/2014. Said information is furnished, via the above-cited contact person’s authorization, for publication on 1 February 2017, at 07:00 CEST.
SolTech Energy in breif
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 function as an integrated part of a building’s outer shell, in addition to producing electricity and/or hot water. 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 regions.
SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. 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 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 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, in combination with various forms of subsidies per produced kWh. With the sales goal of 25 MW having been exceeded, focus is now concentrated on building a backlog of orders for 2017 and beyond, with the goal of obtaining by the year 2019 an installed capacity of approximately 230 MW, which in 2020 will be set into full operation, generating current annual sales amounting to approximately 400 MSEK (40.1 MEUR).
The installation is expected to cover a roof surface measuring circa 10,000 m2 and produce circa 1,000,000 kWh annually. For purposes of comparison, 1,000,000 kWh is sufficient to meet the electrical needs of 71 normal Swedish detached houses, which on average consume 14,000 kWh per dwelling. Ningbo Hrale Plastic Heat Exchanger is contractually committed to buying all the electricity the system produces over 20 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 9.91 MSEK ( … MEUR), and its construction is estimated to be completed during the second quarter of 2017.
CEO Frederic Telander comments:
- It is especially pleasing that the customer is located in Ningbo, where our completed installations have previously been quickly coupled to the electrical network. The goal for 2017 is to double ASRE’s sales volume for the year, from 25 to 50 MW. In this regard, receiving confirmation – so early in the year – that our strong sales performance continues, gives a sense of confidence. The financing required in order to reach this year’s goal of 50 MW; we intend to meet through our subsidiary Advanced SolTech Sweden AB’s recently publicized cooperation agreement with Danske Bank, in connection with issuing “Green Bonds”.
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 market abuse regulation.596/2014. Said information is furnished, via the above-cited contact person’s authorization, for publication on 25 January 2017, at 07:00 CEST.
SolTech Energy in breif
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 function as an integrated part of a building’s outer shell, in addition to producing electricity and/or hot water. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other advantages, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic regions.
SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. 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 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 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, in combination with various forms of subsidies per produced kWh. With the sales goal of 25 MW having been exceeded, focus is now concentrated on building a backlog of orders for 2017 and beyond, with the goal of obtaining by the year 2019 an installed capacity of approximately 230 MW, which in 2020 will be set into full operation, generating current annual sales amounting to approximately 400 MSEK (40.1 MEUR).
ASAB has previously offered a new bond issue with proceeds amounting close to 65 million Swedish crowns (6.8 MEUR). This issue is now traded on the First North Bond Market. Danske Bank will act as the structural entity for SolTech Energy’s green bond framework. CICERO, an independent analysis and research institute at Oslo University, will be giving a so-called ”second opinion” on the proposed green bond’s framework and platform.
CEO Frederic Telander comments:
We are gladdened and proud over the increased cooperation with Danske Bank, our standard bank going back many years. Issuing green bonds underscores our work with renewable energy. In addition, our cooperation with Danske Bank and CICERO also shows the weight and quality for investors with a focus on sustainability. Our focus just now is primarily directed on business that will take place throughout 2017, but we are also heartened by having found a possible source of financing for future investments in China over the coming years.
For more information, please contact: Frederic Telander, CEO SolTech Energy, Tel: 08-441 88 46, email frederic.telander@soltechenergy.com
Information in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s market abuse regulation.596/2014. Said information is furnished, via the above-cited contact person’s authorization, for publication on 10 January 2017, at 07:00 CEST.
SolTech Enery in brief
SolTech Energy develops and sells a solar energy system based on research carried out over several years at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology). The system is a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or glass plates) that function as both weather protection and sun-catchers for the production of heat, hot water and electricity. The assortment of suitable glass also includes unique thin-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that promote integration with a building’s outer shell.
SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. 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 is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com
Green Bond Information
Green Bonds are subject to the same regulations and standards that apply to the issuer’s other bonds with respect to credit risk, documentation and applicable body of business/financial law. Green bonds, however, are thematic in that capital raised from carrying out new ”green” bond issues is earmarked for environmentally friendly projects as defined in the issuer’s ”Green Bond Framework”. Via press releases and its website, the issuer openly discloses the specific investments that are conducted with the use of the capital proceeds of the relevant new “Green Bond” issue. This disclosure contains specific information about how the capital was invested: Providing, for example, details – whenever possible – about specific projects, including in certain cases information as to the size of the expected CO2 reduction that will come about as a result of a given project. In practice, green bonds are verified as being “green” by an independent party. SolTech has chosen CICERO in Norway, an independent analysis and research institute at Oslo University, as its external independent verification party.
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 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, in combination with various forms of subsidies per produced kWh. The strategy is to build a backlog of orders for 2016 and beyond, with the goal of obtaining by the year 2019 an installed capacity of approximately 230 MW, which in 2020 will be set into full operation, generating current annual sales amounting to approximately 400 MSEK (40.1 MEUR).
CEO Frederic Telander comments:
We surpassed, with ample margin, the sales goal of 25 MW set for 2016, but fell a bit short of the planned total of coupled MW. However, we fully expect meet this goal in the opening weeks of 2017. For the record, the installations at Zhejiang Sci-Tech University and Xuri Hongyu Co. Ltd were not able to be coupled within the planned time. In the case of Zhejiang Sci-Tech University, the 400 KW installation was completed, but the university’s technicians could not devote the time needed to complete the coupling before January 2017. In Xuri Hongyu, 500 KW of a total 1.7 MW have not yet been built, and they are expecting to be coupled before the close of February 2017. With inclusion of these installations, we will have a total coupled solar-energy capacity of 16.61 MW. Addressing the rest: ASRE is tirelessly working to achieve the year 2017’s goal of 50 MW – and in terms of sales, we lie wholly according to plan.
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 meets with the information SolTech Energy Sweden is required to make public according to 1.) law (1991:980) concerning trading with financial instruments, 2.) law (2007:528), concerning the financial instrument market, and/or 3.) the EU’s decree, no. 596/2014, concerning market abuse. Said contained information was provided by the above-cited contact person for publication on Jan 3, 2017 at 07:00 CEST.
SolTech Enery in brief
SolTech Energy develops and sells a solar energy system based on research carried out over several years at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology). The system is a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or glass plates) that function as both weather protection and sun-catchers for the production of heat, hot water and electricity. The assortment of suitable glass also includes unique thin-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that promote integration with a building’s outer shell.
SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. 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 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 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, in combination with various forms of subsidies per produced kWh. The strategy is to build a backlog of orders for 2016 and beyond, with the goal of obtaining by the year 2019 an installed capacity of approximately 230 MW which in the year 2020 will be in full operation, generating current annual sales amounting to approximately 400 MSEK (40.1 MEUR).