SolTech’s ASRE receives a new order generating 47.6 MSEK over contract’s term.

SolTech Energy’s jointly owned company in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd, ASRE, has signed an order with Shenzhen China Star Optoelectronics Ltd. The order covers the installation of a 2.16 MW (megawatt) solar energy unit estimated to generate annual income amounting to approximately 2.38 MSEK (.23 MEUR). Cumulative income over the contract’s 20-year term is estimated to mount to approximately 47.6 MSEK (4.5 MEUR).

The installation will cover a roof surface measuring circa 2.16 hectors (ca. 21,600 m2), with an annual production capacity of circa 2,160,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the contract’s 20-year term. Over this same period ASRE receives subsidies from the central government based on every kWh (kilowatt hour) delivered to the customer. Investment in the installation, which continues to be own by ASRE, amounts to approximately 16.44 MSEK (1.56 MEUR). The installation is estimated to be completed during the third quarter of 2018.

CEO Frederic Telander comments:
– The region of Shenzhen, which borders Hong Kong, is thought by many to have passed Silicon Valley as the world’s hottest area in terms of technological development. Business possibilities here – and in all of China, for that matter – are, mildly put, comprehensive; and we’ve just begun our journey. Last year, we didn’t have sufficient capital to take advantage of all the business possibilities we encountered in China. We have therfore established cooperative relationships with several partners within the financial area, and now consider we have created the right conditions for successfully increasing the pace of growth.

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 2 May 2018, 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 shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China – more info on ASRE appears below. 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 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 2018 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 (100 MEUR).

Release

SolTech’s subsidiary ASRE has now coupled a total of 28 solar energy installations, equivalent to a sum total capacity of 31.96 MW, to the central network in China. Calculated on a cumulative 12-month rolling basis, these coupled installations are estimated to generate income amounting to approximately 48.26 MSEK (4.8 MEUR) with a handsome margin of profit. As ASRE is consolidated into the SolTech concern in accord with the Proportional Method, the concern’s share of this income is 51 percent.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Fasad is a solar cell facade that replaces traditional facade materials. SolTech has, together with its cooperation partner Sapa Building Systems, developed a façade framework for attaching solar cells that will be launched at the Nordbygg convention on April 10, 2018. One of the advantages of this solution – in addition to its esthetic merits – is that the investment cost incurred for the solar cells is recovered within only two years, since the price per square meter is only marginally higher than a traditional plaster paneled facade. The alternative, i.e. installing solar cells outside the surface of an existing facade, is significantly more expensive, making the time-period required to recover the solar cell investment significantly longer.

CEO Frederic Telander Comments:
– Ever since SolTech was first created and built on the strength of its own resources, we have – together with our partners – developed products. This solar cell attaching solution for SolTech Fasad is an example of one such product that has emerged through our productive cooperation with Sapa and Hydro. We see, without question, great potential for this product that is not only strongly competitive economically but, at the same time, also very attractive, esthetically.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

SolTech Fasad
SolTech Fasad is a ventilated cold facade made up of solar cells that are attached within an aluminum profile framework. It replaces other building materials, such as: brick, sheet metal, plaster or façade panels. And since the solar cells are also the façade, the investment in the solar cells is a supplemental cost in relationship to the cost of investing in a traditional façade, with a very short investment recovery timespan, calculated on the basis of the monetary return on the electricity produced. SolTech also produces special fitting-components that make possible installation on an existing building, regardless the surface and appearance. SolTech Fasad has an installed effect of 100 – 123 Wp/kvm, dependent the color chosen, from an available selection of gray, green, terra cotta, blue, bronze, yellow and black.

Release

Soltech Energy’s jointly owned subsidiary in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE), has signed an order with Shaoxing Shangyu Hebang Metal Products Co. Ltd. The order covers the installation of a 1.8 MW (megawatt) solar energy unit, estimated to provide annual earnings amounting to approximately 2.25 MSEK. Over the contract’s 20-year term, cumulative income is estimated to amount to approximately 45 MSEK (4.5 MEUR).

The installation will cover a roof surface measuring circa 1.8 hectors (ca. 18,000 sq. m) and annually produce circa 1,800,000 kWh. The customer is contractually committed to buying all the electricity that the installation produces over 20 years. Over that same period, ASRE receives subsidies from the central and provincial governments based on every kWh (kilowatt-hour) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 13.6 MSEK (!.36 MEUR). The installation is expected to be completed during the third quarter of 2018.

Zhejiang Province, ASRE’s home province, has a population of circa 55 million and its capital, Hangzhou, is ASRE’s home city.

CEO Frederic Telander comments:
-We have previously installed many solar energy units in Zhejiang. This is likely due to the competitive strength of our business model and the strong support we get from the local government in Hangzhou. It feels good to be able to continue expanding here “at home”, where the potential for growth remains very good.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Energy’s jointly owned subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd (ASRE) in China, has signed an order with the textile manufacturer XinJian TeKuo PiaoZheng (Nantong) Co. Ltd. The order covers the installation of a 2.7 MW (megawatt) solar energy unit, estimated to provide annual earnings amounting to approximately 3.19 MSEK (0.32 MEUR). Over the contract’s 20-year term, cumulative income is estimated to mount to approximately 63.8 MSEK (6.38 MEUR).

The Installation is estimated to cover a roof area measuring circa 2.7 hectors (ca. 27,000 sq. meters) and produce circa 902,000 kWh. The customer is contractually committed to buy all the electricity the installation produces over 20 years. During that same time period, ASRE receives subsidies from the central government based on every kWh (kilowatt-hour) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 19.7 MSEK, and its construction is estimated to be completed during the third quarter of 2018.

CEO Frederic Telander comments:
-This new customer is located in Jiangsu Province, with a population of 78 million, immediately north of Shanghai. Our breakthrough into this region unquestionably has great potential. We also know that the authorities there see to it that installations are quickly coupled to the central network, once they are fully completed – which in turn means a quicker start to another new income flow to ASRE.

Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email: frederic.telander@soltechenergy.com

Release

SolTech Energy’s subsidiary, ASAB (Advanced SolTech Sweden AB (publ.), is the first company to have its new issue bonds listed on Nasdaq Stockholm’s new bond market: First North Sustainable Retail Bonds. The new list is intended for certified green bonds directed toward smaller investors and private individuals.

A listing ceremony at Nasdaq Stockholm has been arranged to take place on March 19, 2018. Fifty investors, along with the media, have been invited to listen to addresses from SolTech Energy and Nasdaq marking this notable occasion, along with witnessing the moment when SolTech Energy’s subsidiary, ASAB, opens the day’s trading with a bond designated SOLT2, by duly ringing the exchange’s bell at 9 AM, precisely.

Background
On 1 February 2018, ASAB offered a new bond issue, together with Avanza Bank directed toward smaller investors and private individuals. The bond’s term spans five years with an 8.75% annual interest rate, and was subscribed in the amount of 128 MSEK (12.8 MEUR) by approximately 2,000 people. Net liquidity, after deductions for customary new issue costs, is earmarked for financing the joint-venture company ASRE’s continued investment in China – in this case, an investment satisfied by a cumulative solar energy capacity of circa 15 MW (megawatts) in existing back orders.

Nasdaq Stockholm’s Ann-Charlotte Eliasson, responsible for bond listing, comments:
– We are especially pleased to welcome Advanced SolTech as the first bond on our new market, First North Sustainable Retail Bonds. Solar energy is a technology with strong potential, and we are delighted – together with Advanced SolTech and Avanza – that, for the first time in the Nordic region, smaller investors will also be able to invest in green bonds; something that we believe will become more and more common in the future.

SolTech Energy’s CEO Frederic Telander comments:
– We are proud to be pioneers within certified green bonds directed toward the consumer market. We believe that now, together with Avanza Bank, have found a way to periodically finance our solar energy project in China that is contributing to the SolTech concern’s increased growth, but, in addition, also contributes to a better climate on Earth for all of us.

For more information, please contact: Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email:frederic.telander@soltechenergy.com or David Augustsson, Communication Director, Nordic Fixed Income, Nasdaq. Tel: 073-449 61 35, email:david.augustsson@nasdaq.com

SolTech Energy Sweden AB (publ.) in brief
SolTech Energy develops and sells building-integrated solar energy products for all forms of building structures – commercial, public and residential. We offer products that are a part of a building’s outer shell in the form of a roof, façade, balcony railings or a window. We offer black and variously colored solar cells, as well as semi-transparent solar cells for the production of electricity that simultaneously shut out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 shareholders. Included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.), ASAB, in Sweden and Advanced SolTech Renewable Energy Hangzhou Co. Ltd, ASRE, in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more info, see: www.soltechenergy.com

Release

SolTech Energy Sweden AB (publ.) has decided to reshape its operation and focus all resources on the concern’s solar energy business area within the Nordic region and China. As a follow of this decision, on March 5, 2018, SolTech Energy has disposed of 100% of its shares in its wholly owned subsidiary Wasa Rör T. Mickelsson AB to Vanovo AB. SolTech acquired Wasa Rör in 2014 with the aim of strengthening the company’s competitive position within its thermal solar energy business area, as well as simultaneously obtaining a platform within the energy-effectivization segment in Sweden. Both of these segment areas are very VVS (Heating, Ventilation and Sanitation) intensive.

Since that time, a large part of the market for thermal solar energy in Sweden has disappeared due to the ever increasing pace of technical development – not least, with respect to solar cells – which has caused customers to, in essence, solely inquire about the installation of electricity-producing solar energy. As a result, SolTech laid down its operation within thermal solar energy in the beginning of 2017 in connection with the launch of our combined solar cell and roof panel, SolTech ShingEl.
The development of SolTech’s solar energy operation during 2018 has significantly picked up speed in China, likewise in the Nordic region, which has demanded all available leadership and financial resources. Moreover, simultaneous with this press on resources, the market for energy effectivization has become yet more competitive, which, in turn, demands more investment and reappraisals of business models. Wasa Rör, given this background, is no longer a natural part of the SolTech Energy Sweden AB solar energy concern; therewith, the motive for selling the company.

Vanovo AB is a successful and fast-growing company within the VVS branch and has been deemed the perfect parent company from within which Wasa Rör and its qualities can develop satisfactorily. Vanovo renovates buildings’ plumbing, ventilation ducts and hot water circulation systems from inside – i.e. from within the existing system, so-called relining.

Soltech Energy’s CEO Frederic Telander comments:

– Running a relatively small, growing company calls for constantly prioritizing available resources. We must, for the benefit of our shareholders, focus all our financial and personnel resources on our products within esthetic and building-integrated solar energy, along with our very successful investment in China. This reshaping of the concern’s operation is necessary to creating possibilities for the Company’s future growth that are most advantageous to our shareholders. Our years as owner of Wasa Rör have been fine and profitable, which set the stage for our having taken special care to find an owner better able to utilize their potential. We are convinced that we have found that in Vanovo and wish them, and our former colleagues, all the best of luck in the future.

Vanovo’s CEO Kristoffer Svanung comments:

– We are pleased and proud over this acquisition, which will significantly strengthen our offering in the market. There is an obvious synergy effect between Vanovo and Wasa Rör, and we look forward to furthering the development of the company and integrating it in Vanovo’s overall operation.

For more information, please contact: Frederic Telander, VD SolTech Energy Tel; 08-441 88 46. E-mail:frederic.telander@soltechenergy.com
or Kristoffer Svanung, VD Vanovo AB Tel; 070-229 75 07. E-mail:kristoffer.svanung@vanovo.se

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 shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see:www.soltechenergy.com

Release

Strong growth in China and increased focus on building-integrated solar energy.

January – December 2017

The energy sales business area of Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE) grew over 650 % throughout the period, reflecting net sales amounting to approximately 20 MSEK (2 MEUR), of which 51% (10.2 MSEK) is consolidated in the Concern.
The Concern’s intake, 49.8 (49.9) MSEK, under the period is essentially unchanged when compared with the previous year.
The operational result for the Concern amounted to -17,6 (-15,7) MSEK. Cleared of non-recurring costs, the operational loss amounted to -13.6 MSEK.
The Concern’s result, after financial costs and tax, amounted to -22.3 (-18.6) MSEK.
The result per share amounted to -0.72 (-0.60) SEK.
The preferential rights issue in SolTech was 147 % subscribed and provided 90 MSEK before new issue costs and was conducted with G&W Fondkommision (Security Brokers) as Financial Advisor.
One-time entry for the write-down of shares in Wasa Ror negatively affects the Swedish operation 2.5 MSEK. The Concern’s growth and result have additionally been negatively affected by a 14 MSEK sales reduction at Wasa Rör and an income drop from 4 to -1.15 MSEK, which in large part was compensated for by the growth and profit at ASRE, but not completely.
Cash flow amounted to 9.8 (25.5) MSEK. The cash flow has been affected by, among other factors, funds provided by a new share issue in the parent company, whereof 40 MSEK was paid in before the turn of the year and 49.7 MSEK was received in January 2018.
Investment in solar energy installations in the jointly held company in China, ASRE, amounted to approximately 294 MSEK (29.4 MEUR) as of the book closing day and includes approximately 71.4 MSEK that was received under 2017. The Concern’s share is 51 %. The capacity of installations coupled to the central electric network totals the equivalent of 29.08 MW, estimated to generate a current annual income for ASRE amounting to approximately 45 MSEK (4.5 MEUR).
The annual general meeting will be held on 29 May 2018 at Nasdaq Stockholm’s locale in Frihamnen. The meeting will be directly coupled to a capital market day in cooperation with Nasdaq Stockholm and Avanza Bank. The board of governors recommends that no dividend return be declared for the period.

Second-half of 2017

Net sales amounted to 25 (24) MSEK; an increase of 12.1 % compared with the previous year.
The period’s result amounted to -10.6 (-9.2) MSEK.
The per share result amounted to -0.36 (-0.31) SEK/share.
Cash flow mounted to 35.3 (9.5) MSEK.

After the book-close period’s result

A successful bond offer together with Avanza Bank. The Concern was provided 128 MSEK, before new issue costs, for the purpose of continuing investment in solar energy installations in China.
SolTech Energy gets its first Norwegian customer under the Sapa agreement contract and opens up a new market.
SolTech Energy receives an order for the installation of ShingEl on seven single-family houses.
YAn additional 4.35 MW (megawatts) are coupled to the central electric network, generating income for the 51%-owned Chinese company, ASRE.
ASRE receives an order for 2.5 MW, estimated to provide annual income amounting to approximately 2.9 MSEK, or 58.5 MSEK over the contract’s 20-year term.

The complete book-closing communiqué can be downloaded on the following link: Bokslutskommuniké 2017 – SolTech Energy Sweden AB (publ)

The CEO comments
During 2017 we have focused on our growth areas: ASRE in China, our exclusive cooperation with Sapa Building Systems in the Nordic and Baltic regions, and SolTech ShingEl, which is both a roof panel and solar cell for the production of electricity. The development of ASRE has been very strong during the year, with over 650 % growth – and we see the same trend continuing under 2018.

We have a backorder log of 22.94 MW – 10.43 MW under construction and 29.08 MW that are coupled to the electric network, generating income. With the use of the capital that was provided by the new bond issue, we expect to build and set into operation an additional circa 15 MW of solar energy capacity during the first half of 2018. On top of that, our Chinese partner has signed an order for 13 MW, which will be sold to ASRE after the installation has been set into operation.

The cooperation with Sapa is running according to plan, and with an expanding pipeline of big and attractive projects. Here and now, however, we need patience before we will see the final result of our work. Our products are an integral part of the overall design of a building’s outer shell, which in turn means long project times from the start to the implementation of contracted installations. In the meantime, we have many building projects that are very near their starting date and we expect to start climbing our actual growth curve together with Sapa. Our own product SolTech ShingEl has experienced – ever since its launching on SNEC – strong interest. During 2017 and thus far into 2018, we have, for example, signed a distribution contract with – and also obtained our first ShingEl order from – Rexel, which is one of the world’s leading electrical wholesalers, with operations in 23 countries, 19 of which are solar energy users. Through this contract, ShingEl will be marketed in Sweden via, among other locales, the 63 Segla och Storel stores that are part of the Rexel concern. The overall plan, however, is to successively grow internationally together with Rexel in their other markets. Clearly notable, among other Shingel customers, are Vasakronen, one of Sweden’s biggest realtors and Myresjöhus as well as a number of other realtor and construction companies and private individuals. The sum total value of ShingEl orders so far amount to 9.6 MSEK; the majority of which will be generating income during the first half year of 2018. In order to create the right pre-conditions for ShingEl’s growth with the sector, we have also signed a contract with Svea Solar that has nationwide sales and installation capacity

So far, everything is looking positive with great potential for strong growth during 2018. This is also reflected in the oversubscribed preferential rights new share issue in November/December 2017 that brought in 90 MSEK and made possible continued investment in China, as well as in other SolTech focus areas However, during 2017 we have also experienced a number of disappointments, not least the 14 MSEK sales decline at Wasa Ror and the accompanying result loss, from 4 MSEK to -1.15 MSEK, which is to say, a total result affect of -5.15 MSEK compared with 2016. In large part this was due to a constant high level of building activity and a reorganization that didn’t fully function according to plan. Taking into account both Wasa Rör’s negative change and the cost of 4.5 MSEK for the never-realized bond issue with Dankske Bank during 2017, the affect on the concern’s result totals -9.65 MSEK. A great deal has been compensated for by the fine development of ASRE, but not all. To avoid similar developments during 2018, we will be setting more focus on ASRE in China, on ShingEl, and on cooperation with Sapa.

For more information,please contact: Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com

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 shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 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 2018 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 (100 MEUR).

Release

The Paradoumo Group has created a unique concept, combining SolTech ShingEl as a building-integrated solar energy provider with modern architecture from Arkitekbrucket, and a free electric car from Volkswagen.

The Paradoumo Group’s goal here is to create a residential area that is safe and pleasant and, moreover, economically and environmentally sustainable. At Glasberga Sjöterrass in Södertälje, the first step toward this goal is now being built with seven unique seaside houses. Thanks to the roof’s building-integrated solar cell solution from SolTech, electricity is generated with no compromise made to either function or esthetics.

The Paradoumo Group’s CEO Sargon Kerimo comments:

– We have chosen to design a house for the family of the future that wishes to pursue a sound life-style. A solar cell roof creates the possibility of utilizing solar energy that simultaneously lowers the cost of electricity to the householder. According to a new estimate from our supplier, SolTech works to reduce the cost of electricity to a family of four by 20% on an annual basis. We wish to strengthen the significance of this saving by having –on the day of possession – a Volkswagen E-Up el-car waiting in the new owner’s own driveway, available for one year’s free use.

SolTech Energy’s CEO Frederic Telander comments:

– SolTech sees a growing interest centered around esthetic solar energy, and our product ShingEl is perfectly in line with this trend. We are very happy about this order that is, in fact, a good example of how creative packaging of household-solar energy may well appear from here on out. The Paradoumo Group is out front – on the leading edge – and we are proud to be a part of this project.

For more information, please contact:

Marie Strand, Marketing Director, the Paradoumo Group: Tel: 072-021 72 27, email: marie.strand@paradoumo.se
or, 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 27 February 2018, 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 shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 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 Paradoumo Group project
The Paradoumo Group’s environmentally smart seaside houses are located in family-friendly Glasbergs Sjöstad, which is ringed by fields, meadows and wooded areas. The Sjöstad area also contains two pre-schools, theme playgrounds and playing fields. In order to make the local surroundings extra secure, the ”Calm-streets principle” has been implemented with suitable street and traffic environments. Only minutes away, all services with regard to shops and restaurants are readily available at Moraberg’s market place.

Release

Advanced Soltech Sweden AB (publ.), which is 51% owned by SolTech Energy Sweden AB (publ.) (51%) and 49% owned by its Chinese partner, Advanced Solar Power Hangzhou Inc. (ASP), published a prospectus, on February 2, 2018, detailing a bond offer directed at the general public amounting to 150 MSEK, yielding an annual interest rate of 8.75% over the bonds’ five-year term, due to expire on 28 February 2023. The Financial Advisor was Avanza Bank and the subscription period spanned from February 5 – 20, 2018. The proceeds were 128 MSEK (12.8 MEUR) provided by circa 2,000 subscribers. The bonds will be listed on the Nasdaq First North Bond Market, assuming application approval, with the first proposed trading day taking place on March 19, 2018.

ASAB’s function within the SolTEch concern is to finance the operation in China, which is run by its fellow subsidiary Advanced SolTech Renewable Energy Hangzhou Ltd., ASRE, which, in common with ASAB, is 51% owned by SolTech and 49% by ASP.

Via the new bond issue, capital amounting to approximately 128 MSEK, less customary new-issue costs, has now been provided.
The remaining capital necessary to achieving 2018’s goal will be met partially in the form of bank loans and other credit sources in China and Europe, as well as the joint owners own investment capital, along with the proceeds of new bond issues offered during the year.

The completed and coupled installations, now totaling 29.08 MW, generate approximately 45 MSEK (4.5 MEUR) in annual income. Having the use of the liquidity gained from the bond issue, an additional circa 15 MW will be coupled to the central network and generate approximately 21.4 MSEK annually in income, whereof 51 percent is duly reported with SolTech in accord with the Proportional Method.

CEO Frederic Telander comments:

– The most vital message is that we have, together with Avanza Bank, secured sufficient capital to complete the installation of an additional circa 15 megawatts of our existing backlog orders. This means that ASRE will thereafter have a full 44 MW coupled that will annually generate income totaling approximately 66.4 MSEK. ASRE’s business operation is exceptionally suited for lone financing, given its predictable and long-term strong cash flow.

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 February 2018, 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 shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 14,000 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 2018 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 (100 MEUR).

Release