The installation is estimated to cover a surface area measuring circa 5 hectares (appx. 50,000 m2 ) and estimated to produce circa 5,000,000 kWh annually. The customer is contractually commited to buying all the electricity the installation produces over a 20-year period. In concert with this income, ASRE receives subsidies from the province and central government over this 20-year period. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 39.65 MSEK (4 MEUR), and it is expected to be completely installed during the third quarter 2018.
CEO Frederic Telander comments:
- Yet another customer in Ningbo – Now we are starting to establish a truly solid presense in the city, which has over 10 million inhabitents. In addition, the responsible authorities in Ningbo strive to have the installations quickly coupled to the central network once they are completed, which, in turn, means a quicker start to ASRE’s income flow. Moreover, with a number of ongoing projects in the same city, we also benefit from economies of scale, but even more evident are the benefits drawn from continuing to build a list of successful installations and happy customers.
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 November 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 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.
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).
SolTech Energy Sweden AB (publ.) (”the Company” or ”SolTech”) has, on 16 November 2017, with the support of authorization granted at the annual general meeting of shareholders held on 18 May 2017, has decided to proceed with an 81% guaranteed new issue of shares to be offered for a maximum sum of 64.8 MSEK (6.68 MEUR), with preferential rights for the shareholders of the Company.
- The motivation is primarily to secure financing for strategic acquisitions in Sweden and further investment in contracted solar energy installations in China that are jointly owned by SolTech’s Chinese partner, Advanced Solar Power Hangzhou Ltd. (ASP). Specifically, the funds to be allocated to solar energy installations will be invested in SolTech’s subsidiary in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., which is jointly owned by ASP.
The new share issue is guaranteed up to 81% through emissions guarantees, equivalent to a sum total amounting to 52.5 MSEK (5.4 MEUR). SolTech has not, however, obtained Bank type security for these. The guarantee’s size is equivalent to SolTech’s working capital needs for 2018, as well as the commitment the Company has both in terms of the need to raise production in connection with the launching of ShingEl and the related contract with Rexel and follow-up orders, and with respect to the agreed added contribution of the Company’s own capital in ASRE. Taken together with local bank financing, and the coming, planned bond loan offered to the general public through Advanced SolTech Sweden AB publ. (ASAB), this is estimated as making possible the construction and coupling to the central electrical network of current back orders in China for solar energy installations with a total generating capacity equivalent to circa 35 MW (megawatts).
Assuming Financeinspektionen (FI = Financial Inspection Authority) approves the prospectus and a fully subscribed offer is realized, the new share issue will provide the Company with approximately 64.8 MSEK (6.68 MEUR). The Board of Governors will be called to an extra meeting in order for them to decide, in the event strong interest in the new share issue indicates the possibility of an oversubscription, the allowance of an additional allocation of shares up to a maximum of 25 MSEK (2.6 MEUR) via a separately directed new share issue. A full subscription would raise total stock equity from 1,542,700.50 SEK to a maximum ceiling of 1,972,125.65 SEK, including the guaranteed remuneration in the form of shares. Including an added allocation of shares, assuming the separate additional new share offer is fully subscribed, the total stock equity/capital would increase to a max-ceiling of 2,1230,395.15 SEK. In the event of a full subscription, dilution of shares for stockholders who chose not to participate is 22 percent; and 27 percent in the event the additional separate new share issue is also fully subscribed.
New share issue conditions:
- The new share issue pertains to, at the most, 7,713,513 shares. Including guaranted remuneration in the form of 875,000 shares, the total then rises to 8,588,503 relevant shares. In the event of a seperate allocation arising from an oversubscription, and assuming the articles of incorporation come to allow an increase in the Company’s capital stock and amount of shares, the maximm total increase in shares would amount to 2,976,190, which is to say, 11,564,693 shares, all told, after allocation of the new shares.
- Four (4) existing shares entitle subscription to one (1) new share.
- The offering price is set at 8.40 SEK per share, which means a refund of approximately 29 percent based on a volume-weighted average price over the period 19 October – 15 November 2017.
Preliminary timeplan for the new share issue, assuming FI approval of the prospectus.
- The last day for trading the stock, including the preferential subscription right, is 22 November 2017.
- The day of record is 24 Novembern 2017.
- Publication of the prospectus is estimated to take place on 27 November 2017 at the latest.
- Trading of shares with purchased subscription shares starts as of 28 November and continues until the date the new share issue has been registered with the Bolagsverket (roughly: Department of Corporate Registration), which is expected to take place on or about 12 January 2018.
- Trading with subscription rights will take place during the period 28 November to 12 December.
Vital information:
Publication or distribution of this press release can, in certain juristictions, be subject to legal restrictions. Consequently, people in those juristictions where this press release has been published or distributed must obtain knowledge about possible legal restrictions and follow their stipulations.
The information provided here is not for release to the general public, publication or distribution, directly or indirectly, within or to Austrailia, Hongkong, Japan, Canada, New Zealand, Singapore, South Africa or the USA, or in any other juristiction where release to the general public, publication or distribution of this press release would be unlawful, or require registration or other mandatory measures. Information in this press release also cannot be forwarded, reproduced or presented in a way that conflicts with such restrictions. Failure to comply with this notification can constitute a criminal violation of the United States Securities Act of 1933 (”Securities Act”), along with additional or relevant laws in other juristictions.
This press release does not contain or present an invitation or offer to hold, sign, or in some other way trade subscription rights, paid subscription shares, or new shares in SolTech Energy Sweden AB (publ.). Neither subscription rights, paid subscription shares nor new shares shall be registered according to the Securities Act, or according to applicable securities legislation in any State of the United States or Province in Canada, and said securities cannot be transferred or offered for sale in the USA or Canada, or to persons living there, or for such persons’ benefit, other than in specific cases of exception, where registration is not required by the Securties Act or by the law of some Province in Canada.
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 17 November 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 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.
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).
The installation is estimated to cover a roof surface measuring circa 3 hectare (ca.30,000 sq. m) and produce an estimated total of circa 3,030,000 kWh. By way of comparison, Sweden’s largest solar cell installation, namely, Solsiden in Varberg, has an installed effect of 2.7 MW. The customer is committed to buying all the electricity the installation produces over the course of 20 years. Parallel with this income, ASRE receives subsidy payments from the central government over that 20-year period. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 23.7 MSEK (2,38 MEUR) and the installation is expected to completed during the second quarter of 2018.
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 7 November 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 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.
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).
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).