SolTech Energy’s subsidiary in China, ASRE, has signed an order with Hangzhou Baowei Autoparts Co. Ltd. This order, contracted in SolTech’s home city of Hangzhou, covers the installation of a 3.4 MW (megawatt) solar energy unit that is estimated to provide annual earnings amounting to approximately 4.6 MSEK (478,000 EUR). Over the contract’s 20-year term, cumulative income is estimated to amount to approximately 92 MSEK (9.6 MEUR).

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).                                      

Release
Sol Tech Energy’s Swedish subsidiary, Advanced SolTech Sweden AB (publ.)(ASAB), with responsibility for financing the Group’s investments in China, signed a contract with Danske Bank in January 2017 for the purpose of exploring the possibility of issuing ”green bonds” to the bank’s network of institutional investors.

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).                                       

Release
SolTech’s ASRE subsidiary has coupled yet another solar energy installation in China to the electrical network and has now reached a total of twenty coupled installations, equivalent to an electrical capacity of 21.24 MW. Calculated on an accumulated, 12-month rolling basis, these installations will comfortably generate 35.1 MSEK (3.7 MEUR) in earnings with a good profit margin.  ASRE is consolidated in the SolTech concern in accord with the Proportional Method, and thereby, SolTech’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

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).    

Release
SolTech Energy has sold a solar energy installation, consisting of SolTech ST (semi-transparent) panels covering an area of 70 m[2], to Nordin’s Glas och Metall AB for installation on a listed building in Stockholm’s Slakthus (Slaughter-house) area that is owned by the city. The value of the order is a firm 300,000 SEK (31,580 EUR ) and the instillation is estimated to produce circa 4,260 kWh annually.

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

Release
SolTech Energy’s subsidiary in China, ASRE, has signed an order with Zhejiang Xinle Textile & Chemical Fiber Co. Ltd. in the city of Shaoxing covering the installation of a 938 KW solar energy sytem, estimated to provide annual earnings amounting to approximately 1.18 MSEK. Over the contract’s 20-year term, cumulative earnings are estimated to mount to approximately 23.6 MSEK (2.48 MEUR).

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).         

Release
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