SolTech Energy has opened discussions with Benders Sverige AB focused on drawing up a cooperation agreement contract concerning the marketing and sales of SolTech’s new product, ShingEl, which is fully compatible with Bender’s Carisma flat roofing tile.  As a first step, which also serves as a functioning demonstration to prospective customers, ShingEl has been installed on Bender’s own hotel, Palema, close by their head office in Edsvära.

Over the past several years, SolTech and Benders have informally discussed a cooperative agreement centered on solar energy solutions, and periodically exchanged ideas and thoughts within this area, where the focus for both SolTech and Benders has always been concentrated on integration, which is to say; on products that fulfill both the function of a roof and simultaneously function as a solar energy solution.   

Both parties are now interested in a cooperation agreement primarily covering the marketing/sales of SolTech ShingEl, but also other building-integrated solar cells in SolTech’s product assortment.

  • We are pleased and proud of this 7.5 Kw test installation with Benders. The company is market leading within, among other building facets, roofing materials in the Nordic area, and sells, in essence, to all construction firms, single-family home builders, and roofers, as well as all building retail stores and outlets. Together with Benders, we see the creation of great business possibilities as a result of this cooperation, comments Frederic Telander, CEO SolTech Energy.
  • At Benders, we’ve marked a growing interest in solar energy solutions and judge that strong growth in this area is now all but imminent. This possibility we shall clearly make the most of. SolTech’s product, ShingEl, is building integrated, esthetic, modern and plainly “right”. The additional fact that the product is compatible with our Carisma roofing tile makes it even more promising, observes David Gidstedt, product responsible for roofing and solar energy at Benders.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com or David Gidstedt, Benders Sverige AB Tel: 010-888 11 62, email: david.gidstedt@benders.se

The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation.596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 18 September 2017, 07:00 CET.

Benders in brief
A record of positive development for over 55 years has contributed to the making of today’s Benders, a company working within five different business areas and one of the market-leading producers of roof and paving products in the Nordic region, operating business enterprises in Sweden, Norway, Finland and Germany. At the same time, the areas making up the new markets out in Europe are becoming bigger and bigger, and the other building products offered in Benders’ product assortment – for example, natural stone, infrastructure, walls and insulation – continue to grow from one season to the next. Benders is owned by the Benders family, generates 1.7 billion SEK (0.18 billion EUR) in annual sales, and employs 790 people throughout the concern.     

SolTech Energy AB (publ.) in brief
SolTech Energy is a Swedish solar energy company that specializes in developing and implementing esthetically attractive solutions that enable every building to produce more energy than it consumes. SolTech Energy develops its own products, which are based on research carried out at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology) and are a part of a building’s outer shell that produce hot water or electricity. Included in the product assortment are unique, customer-tailored semi-transparent thin-film solar cells that, among other retail venues, are now sold via the Company’s exclusive contract with Sapa Building Systems throughout the Nordic and Baltic region. SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Also included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned subsidiary Wasa Rör T Mickelsson AB. The company’s Certified Advisor, with respect to its listing on Nasdaq First North, is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com

Release
SolTech’s subsidiary ASRE has coupled an additional solar energy installation to the electric network in China, bringing the cumulative sum total of coupled installations to twenty, equivalent to a cumulative capacity of ca. 24 MW. Reckoned on a cumulative, rolling 12-month basis, said installations will generate a solid 33.8 MSEK (3.6 MEUR) in income with a handsome profit margin. ASRE is consolidated into the SolTech concern in accord with the Proportional Method. Therefore, SolTech’s share of this sum will be 51 percent.

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).           

Release

Interim Financial Report: Advanced SolTech Sweden AB (publ)

Advanced SolTech Sweden AB (publ.), ASAB, has released its semi-annual report for the period January – June 2017. ASAB is SolTech Energy’s Swedish subsidiary, which is jointly owned by SolTech Energy (51%) and its Chinese partner, Advanced Solar Power Hangzhou Inc., ASP, (49%). The subsidiary’s financial statements are therefore a part of the parent concern’s interim semi-annual report, which was released on 25 August 2017.

ASAB’s function within the SolTech concern is to finance its business operation in China, which is conducted by fellow subsidiary Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE.

The period recorded a negative result: – 990 KSEK (-104 KEUR). The reason for the loss is primarily due to costs related to conducting a bond offer in 2016. These costs are distributed over the term of the bonds, where costs charged against this period’s result amounted to 864 KSEK.

The next report will be released in connection with SolTech Energy’s press release regarding its annual financial statements on 27 February 2018.

The period’s result and the company’s status:

  • The period’s result amounted to -990 (-367) KSEK
  • Net interest for the period amounted to 70 (-177) KSEK
  • Cash flow amounted to -196 (55,811) KSEK
  • No new loan has been granted or raised during the period

Liquid assets at the close of the period amounted to 2.3 MSEK (242 KEUR). Interest due bondholders has been paid in accord with bond stipulations in January and July 2017.

To read the report in its entirety – Advanced SolTech Sweden AB (publ) Delårsapport januari – juni (Note: report in Swedish).

For more information, please contact Frederic Telander, CEO Advanced SolTech Sweden AB (publ.) and SolTech Energy Sweden AB (publ.). 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, and law (2007:528) concerning the securities market. Said information is furnished, via the above-cited contact person’s authorization, for publication on 28 August 2017, 07:00 CEST.

Advanced SolTech Sweden AB (publ)
ASAB was created by SolTech Energy Sweden AB (publ.) and the Company’s partner in China, Advanced Solar Power Hangzhou Inc., with the aim of ensuring continuity with respect to financing growing investment in China. ASAB’s operational task is to finance the construction of solar Energy installations in China by making loans that enable the SolTech consern to finance solar energy installations in China that are owned and periodically serviced by ASAB’s fellow subsidiary Advanced SolTech Renewable Energy Co. Ltd, ASRE, or by the latter’s wholly owned, local subsidiaries. ASRE’s underlying assets (solar energy installations and contracted customer receivables) stand as security for repayment of the funds loaned out. In May 2016, ASAB issued a bond resulting in capital proceeds amounting to the equivalent of approximately 65.5 MSEK (6.89 MEUR). The bonds are secured by a guarantee from the parent company, SolTech Energy Sweden AB (publ.) and were listed in July 2016 on Nasdaq First North Bond Market trading under the symbol SOLT1.

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 AB (publ) in brief
SolTech Energy develops and sells a solar energy system 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, as a roof and/or wall constructed of glass (roof tiles/shingles or plate glass/panes), which function both to protect and as solar collectors for the production of heat, hot water and electricity. Notably included in the product assortment are also unique thin-film solar cells in black glass, semi-transparent glass, or as isolated glass modules in various sizes and formats to 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”. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden, and ASRE in Sweden, 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

Release
Interim Financial Report: SolTech Energy Sweden AB (publ.) January – June 2017

Strong increase in earnings for ASRE, and reduced losses – but also reduced sales

  • Net sales amounted to 22 (25.2) MSEK, a 13% reduction as compared with the same period last year. The reason is a drop in billings at Wasa Rör due to a period of high strain on the company’s labor force, where production was concentrated on completing many 2016 projects. This, in turn, affected the sale of new projects going into 2017. The resource situation has now been addressed and demand for Wasa Rör’s services is quite good.
  • The period’s operational result came to -9 (-11.6) MSEK; representing a 22% improvement as compared with the result posted for the same period last year.
  • The per share result amounted to -0.36 (-0.34) SEK/share. Cash flow amounted to -28.34 (43.6) MSEK.
  • Earnings at ASRE increased to total 6.7 MCNY (approximately: 8.4 MSEK) as compared with 0.7 MCNY (0.9 MSEK) for the same period the previous year.
  • The concern’s gross profit margin improved as a result of ASRE’s increased sales of produced electricity.

After the report period’s release

  • Continued stabile growth in China: Total solar energy installations coupled to the central electric network through August 2017 rose to 18.85 MW, as compared with 2.24 MW for the same period in 2016.
  • Back orders in China stood at 24 MW in August, as compared with 11.5 – 15.5 MW for the same period in 2016.
  • The total number of coupled installations in China, in the form of orders (not yet started) plus installations under construction, amounts to 34 distinct projects, as compared with 18 projects at the same time point in the previous year.
  • ASRE has obtained a loan of 28 MCNY (34 MSEK = 3.58 MEUR) from the Bank of China.
  • The decision has been made to annually sell up to 15% of every installed and operational project completed by ASRE, and thereafter reinvest the proceeds in a new capacity the following year. This will contribute to further growth and increase the available financing possibilities for the concern in China.
  • An order for a 240 KW solar energy installation has been received from Karlsviken AB. Installation is planned to take place during the fall of 2017.

To read the report in its entirety – SolTech Energy Sweden AB (publ) Delårsrapport januari-juni 2017. (Note: report in swedish).

For more information, please contact: Frederic Telander, CEO SolTech Energy Sweden AB (publ.). 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, and law (2007:528) concerning the securities market. Said information is furnished, via the above-cited contact person’s authorization, for publication on 25 August 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).                      

Release
SolTech Energy Sweden AB (publ.) and its Chinese partner, Advanced solar Power (ASP), have made a strategic decision to sell up to 15 percent of every fully installed and operational project completed by ASRE over the course of a fiscal year, thereby securing additional capital to reinvest in a new capacity the following year. This will directly contribute to further growth and enhance the possibilities available to financing the construction of new installations.

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).   

Release
The order is for a solar cell field installation capable of producing the equivalent of 240 KW (240,000 watts). Plans call for the installation to be carried out during the third quarter of 2017 at Karlsviken AB’s Norrby Gård (Norrby), located outside Norrtälje,

The installation will provide almost 70 percent of Norrby’s annual electricity consumption; moreover, the installation will be set up so that the electricity it produces is first and foremost made available to Norrby’s dwellings and industrial buildings, with possible excess production sold to the central network.

  • SolTech continues to note a strong, ever-rising interest in solar energy solutions, especially among real estate/property owners. This pronounced trend is not only a question of environmental concern, but also of long range economic planning. Large industrial customers/installations are therefore one of our focus-areas, and today we have qualified personnel dedicated to this segment of our business. We have a well-developed pipeline within the area and see many possibilities of doing more such business in the near future,” observes Frederic Telelander, CEO of SolTech Energy.
  • Karlsviken strives to make its entire property holdings energy neutral via the use of renewable energy, and this field installation is a big step toward achieving that goal. Thanks to the flexibility in the electricity network we are able to sell any excess, and thereby contribute to Sweden’s changeover from usual energy sources. Best of all: We envision significant savings for Norrby Gård,” states Per Nordin, CEO of Karlsviken

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 13 July 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

Release
The following text presents the company’s first business status update for 2017. Such periodic updates are published in addition to the publication of interim and year-end financial reports, as well as ordinary press releases.

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).                               

Release
SolTech’s subsidiary ASRE has coupled yet another solar energy installation to the central electrical network, bringing the total number of coupled installations to eighteen, equivalent to a cumulative capacity of 18.6 MW.  Calculated on a cumulative, 12-month rolling basis, these installations are generating annual income fully amounting to 32 MSEK ( … MEUR). ASRE is consolidated into the SolTech concern in accord with the Proportional Method: Thereby, SolTech is allocated 51 percent of said income.

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).                          

Release
SolTech Energy’s annual general meeting was held on18 May 2018 at 6:00 PM in Stockholm at the Stockholm Waterfront Congress Center.

Adoption of income and balance statements

The annual general meeting adopted the income/profit and loss statement and balance sheet of the parent company, as well as the concern’s income statement and balance sheet for the financial year 2016

 Disposition of income

The general meeting determined that no dividend would be paid out for the financial year 2016, and that the cumulative income, 92,227,648 SEK, was to be carried forward in accord with what appears in the statutory administration report.

Board of Directors and Chief Executive Officer

The annual general meeting granted the Board of Directors and the Chief Executive Officer discharge from liability for the financial year 2016.

The annual general meeting reelected Board members Göran Starkebo, Ninna Engberg and Frederic Telander.

Stefan Ölander was reelected Chairman of the Board.

Auditors

The annual general meeting decided to continue retaining the registered accounting firm PwC with certified accountant Bo Åsell as responsible principal auditor.

Board of Directors and auditor’s remuneration

The annual general stockholders’ meeting determined that the Chairman of the Board shall receive 100,000 SEK, and that the remaining Board members, who are not employees of the concern, shall each receive 50,000 SEK. No special compensation shall be paid for committee work. Accounting fees shall be paid in accord with approved invoices within the parameters of relevant offers.

Other suggestions and decisions

The annual general meeting decided to approve the Board’s suggestion regarding the notice (to a meeting) about:

  • Renewed authorization to make decisions about new issues of stock, and/or convertibles, and/or warrants
  • New company by-laws aimed at rectifying diverse minor formality-oriented faults.
  • Establishment of a new options program intended to function in support of incentive programs.

A full report on the proceedings of this year’s annual general meeting, with complete decisions, will be accessible on the company’s website, www.soltechenergy.com.

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FOR FURTHER INFORMATION, PLEASE CONTACT:

Stefan Ölander, Chairman of the Board, SolTech Energy AB, Tel: 070–739 80 00.

eMail: stefan.olander@soltechenergy.com

For more information, see: www.soltechenergy.com.
This information has been released for publication at 20:00, on 18 May 2017.

The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation.596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 18 May 2017, at 20:00 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

Release
SolTech Energy’s subsidiary in China, ASRE, has signed an order with ShaoXing Shangyu Shunhe Electric Appliance for Illumination Co. Ltd. This fourth order in the city of Shangyu covers the installation of a 2 MW (megawatt) solar energy system estimated to provide an annual income amounting to approximately 2,98 MSEK (0.30 MEUR). Over the contracts 20-year term, cumulative income is estimated to mount to approximately 59.6 MSEK. With the inclusion of this order, ASRE has now reached 23.7 MW of the 50 MW goal set for 2017, which means that a solid 47% of this year’s goal has been achieved.

The installation is estimated to cover a roof surface measuring circa 2 hectors (20,000 m2) and produce circa 2,000,000 kWh on an annual basis. The customer is contractually committed to buying all the electricity the installation produces over 20 years. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 19.24 MSEK (1.98 MEUR), and it’s construction is expected to be completed during the third quarter of 2017.

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 18 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).

Release