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).
SolTech continues to develop in a positive direction with undiminished strength. We are convinced that that the expansion of solar energy will be greater than anyone thought possible only a few years ago, and further, that SolTech is well positioned to take a healthy bite of this ever-rising ”cake” both at home and in China. Cited below is a sampling of examples gleaned from ongoing business activities that reinforces this perception.
SolTech Energy’s subsidiary ASRE is on the threshold of obtaining governmental financial support in China.
Last week, SolTech Energy’s CEO Frederic Telander and its Board chairman Stefan Ölander concluded a very successful business trip to China. Among other beneficial results, ASRE received a tentative oral commitment from Hangzhou Economic & Technological Development Area (Heda) – which is to say, the local government of Hangzhou, SolTech’s home city in China – that ASRE will be awarded the equivalent of 0.5 percent of the total out of country capital the company invests in China. Inasmuch as ASRE plans to invest several billion Swedish Crowns over the coming years in its solar cell installations – with the overall goal of obtaining a total installed capacity of 605 MW (megawatts) in 2021 – such a governmental subsidy stands to be quite significant.
Solar energy capacity fully coupled to the electric network in China
To date, ASRE has coupled a sum total solar energy capacity of 18.85 MW* to the central electric network, which is now generating income. Over and above this figure, 7 MW are under construction and the backorder log for 2017 thus far reads 24 MW.
* Whereof the latest 250 KW were booked the week previous to this press release
SolTech ShingEl
After the launch of SolTech’s solar cell roof panel. SolTech ShingEl, at the world’s biggest solar energy convention – SNEC in Shanghai over 19-21 April 2017 – Chinese construction companies and aftermarket retailers have demonstrated strong interest in this unique product. Together with ASP we have ensured adequate production capacity and begun marketing ShingEl. China is far and away the world’s largest market for roof panels, and thus constitutes truly extensive potential for SolTech ShingEl.
In addition to the launch in China, SolTech js finalizing negotiations with a Swedish partner concerning the launch of ShingEl in our home market.
ISO 9001 certified
As part of SolTech’s inherent effort to continuously improve its operation, and build ever more stabile and well functioning processes, a new conduction system has been introduced and the quality of its processes certified according to ISO 9001. This certification further confirms SolTech’s commitment to quality work.
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 3 July 2017, at 08:15 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).
CEO Frederic Telander comments:
“Over and above the 18.6 MW capacity coupled to the network, we have 7.63 MW under construction and backorders mounting to 24.06 MW, of which 23.7 MW have been sold this year. This means we have achieved 47% of this year’s goal of 50 MW in sold capacity. The strong interest in ARSE’s offer to the market still holds, and we are confident that we will meet this year’s sales goal.”
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 30 May 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).
The installation is estimated to cover a roof surface area measuring circa 3 Hectors (30,000 m2) and generate circa 3,000,000 kWh annually. The customer 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 28.74 MSEK (3.0 MEUR), and it is estimated to be completed during the third quarter of 2017.
CEO Frederic Telander comments:
- ASRE continues to deliver business sales at a steady pace in our home province of Zhejiang. We have now achieved almost half the year-end goal set for 2017, and are comfortably in sync with scheduled intermediate objectives, precisely as planned.
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 11 May 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 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, 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 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 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 (105 MEUR).
The 2017 year-end goal for SolTech Energy’s jointly owned Chinese company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE), is to finance and install solar energy units on the roofs of customer facilities in China mounting to a sum total capacity of 50 MW (megawatts), which will require an investment of approximately 500 MSEK (50.3 MEUR). ASAB – which is jointly owned by SolTech’s Chinese partner, Advanced Solar Power Hangzhou Inc., and explicitly tasked with responsibility for financing, via loans, the SolTech Group’s investments in China – signed a contract with Danske Bank in January 2017 for the purpose of investigating the possibility of issuing Green Bonds. The specific framework that has been developed to make this possible has come about in cooperation with Danske Bank. The intent here is to finance 2017’s investment in China through the issuance of Green Bonds to Danske Bank’s network of institutional investors and wealthy private individuals, amounting to a total worth of 500 MSEK (50.3 MEUR).
CFO Mats Holmfeldt comments:
“Interest in sustainable, environmentally-oriented investments that meet internationally recognized legal and environmental standards continues to increase strongly in today’s financial markets, both in Sweden and abroad. Moreover, many of today’s large institutional investors have adopted an investment policy that requires an increased percentage of its capital be specifically directed to ”Green investments”. Interest in ”Green Bonds”, for example, is rising sharply, and now that we have been awarded CICERO’s highest rating; a sound base has been created for a successful forthcoming new bond issue. Cooperation with Danske Bank and CICERO’s favorable assessment lend further weight and quality to a bond issue offered to investors with a focus on sustainability.”
For more information, please contact: Mats Holmfeldt, CFO SolTech Energy. Tel: 070 721 70 46, email: mats.holmfedlt@soltechenergy.com
SolTech Energy in brief
SolTech Energy develops and sells solar energy systems based on research carried out 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 solar radiation collectors for the production of electricity and hot water. Included in the product assortment are unique thin-film solar cells encased in black and/or semi-transparent glass, or as isolation-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 Bonds
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 such new issues. . 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. 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 1,000 MSEK (105 MEUR).
The installation is estimated to cover a roof surface measuring circa 1.3 hectors (13,000 M2) and produce circa 1,300,000 kWh annually. The customer is contractually committed to buying all the electricity the installation produces for 20 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 12.5 MSEK (1.3 MEUR), and it is expected to be fully installed during the third quarter of 2017.
CEO Frederic Telander comments
- Yet another order for ASRE in our home Zhejiang Province, which is very heartening. We have now met over one third of the year’s goal for 2017. This confirms that we have an attractive concept and a good product to offer. This, in combination with our sales and installation organization, demonstrably functions very well. The commercial possibilities in China for ASRE continue to look very promising.
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 April 2017, at 07:00 CEST
SolTech Energy Sweden AB (publ)
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 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 slightly over approximately 1 billion SEK (105 MEUR).
Since the listing of SoTech on First North at Nasdaq Stockholm in June 2015, ASRE’s goal has been to possess an installed capacity of 230 MW by the close of 2019. On the strength of ASRE’s strong sales performance during 2016, along with the opening weeks of 2017, SolTech – together with its Chinese partner, Advanced Solar Power Hangshou Inc. (ASP) – decided to make public an updated five-year goal, spanning the period 2017-2021, see below:
2015 2016 2017 2018 2019 2020 2021 Total
Goal as of June 2015 5 25 50 75 75 0 0 230 MW
Goal as of Feb. 2017 5 25 50 75 100 150 200 605 MW
CEO Frederic Telander comments:
“We have proven that we deliver above our goal, and so far this year we have already reached 35% (17.4 MW) of 2017’s goal of 50 MW. The Chinese market is very comprehensive and expansive, which is why we, together with ASP – our Chinese partner, and also the owner of the remaining 49% of ASRE stock – decided to publicise a new five-year goal. It is a fantastic feeling to be able to contribute so substantially to the achievement of China’s environmental goals and, at the same time, deliver a notably fine appreciation of value on the investment in China to our shareholders.”
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 23 February 2017, at 07:00 CEST
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 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 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 slightly over approximately 1 billion SEK (105 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).