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

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, 17:15 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

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

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

ASAB’s role within the SolTech concern is to finance parts of SolTech Energy’s operation in China, which is run by its fellow subsidiary Advanced SolTech Renewable Energy Hangzhou Ltd. (ASRE). By dint of ASAB having been duly created, investors are given the possibility of investing in renewable energy and, at the same time, thereby contributing to the improvement of the climat conditions in China.

Result for the period (Mar-Dec. 2016) and the company’s status

• The year’s result amounted to -1,7 MSEK (-0.18 MEUR)
• Net financial status (income/expense) amounted to -1,3 MSEK (-0.14 MEUR)
• The cash flow amounted to 2,5 MSEK (0.26 MEUR)
• The balance sheet total amounted to 68 MSEK (7.2 MEUR), of which 4.5 MSEK consists of the company’s own capital.

CEO Frederic Telander comments:

• Advanced SolTech Sweden AB (publ.) has carried out a vital roll in SolTech’s strong growth during 2016 and continues to apply itself to market investments during 2017. We in the SolTech concern have delivered in excess of our goals in China during the past year. Thus far this year, we have reached 35% (17.4 MW/megawatts) of our 50 MW sales goal for 2017, and ASAB will continue to carry out its vital roll of attracting investment capital to renewable energy. The Chinese market is notably comprehensive and expansive, and it is with great expectation that we continue to invest, and by so doing contribute to the improvement of China’s climate through the replacement of coal with renewable energy.

Read the full report here (swedish): Year-end 2016 – Advanced SolTech Sweden AB (publ)

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 market abuse regulation.596/2014, as well as the law (2007:528) concerning the securities market. Said information is furnished, via the above-cited contact person’s authorization, for publication on 28 February 2017, at 07:00 CEST.

Advanced SolTech Sweden AB (publ.) in brief
With the express aim of financing current investment in China, SolTech Energy Sweden AB(publ.) och the Company’s partner i China, Advanced Solar Power Hangzhou Inc., have established ASAB. ASAB:s operational purpose is to provide loans to the parent concern in order to finance solar energy installations in China, which are owned and periodically maintained by its fellow subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE), or its wholly-owned local subsidiaries. Security for the borrowed funds rests in the underlying assets (solar energy installations and accounts receivable. In May 2016, ASAB offered a new bond issue, which resulted in capital proceeds amounting to approximately 65.5 MSEK.  The bonds are secured by the guarantee of the parent company, SolTech Energy Sweden AB (publ.), and are listed, as of July 2016, on the First North Bond Market, traded under the symbol SOLT1. The company’s Certified Advisor is Mangold Fondkommission AB. For more info, see: www.advancedsoltech.com

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

Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech is the majority (51%) owner and Advanced Solar Power Hangzhou Inc. (ASP) the minority (49%) owner. The business model consists of having said jointly owned company, ASRE, responsible for the installation, ownership, and periodic maintenance of solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, in combination with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2017 and beyond, with the goal of obtaining by the close of 2021 an installed capacity of 605 MW (megawatts), which in 2022 will be set into full operation, generating current annual sales amounting to slightly over approximately 1 billion SEK (105 MEUR).

Release

January – December 2016

• Net sales increased under the period to 49.3 (40.1) MSEK; a 23% increase as compared with the previous year
• Earnings result after taxes amounted to -15.7 (-13.1) MSEK / -1.65 (-0.14) MEUR
• The concern’s result after taxes amounted to -18.6 (-13.2) MSEK / -1.96 (-1.39) MEUR
• Earnings per share amounted to -0.60 (-0.52) SEK / -0.06 (-0.05) MEUR
• Lump sum write-off of inventory in the Swedish business operation amounted to 2.8 MSEK (0.29 MEUR)
• Cash flow amounted to approximately 9.8 (25.5) MSEK / 1.03 (2.68) MEUR, including funds provided by a new stock issue in the parent company and issue of bonds.
• Investment in solar energy installations in the jointly-owned company in China, Advanced Renewable Energy Hangzhou Co. LTD. (ASRE), amounted to approximately 160 MSEK as of year-end closing. The concern’s share mounts to 51 %. Installations producing the equivalent of 16.13 MW have been coupled to the central electric network and are estimated to generate continuous annual earnings for ASRE amounting to approximately 27 MSEK.
• The Board of Directors recommends that no dividends be paid out for the period.

Second half/2016

• Net sales amounted to 24 (19.4) MSEK; a 23.7% increase as compared with the same period in the previous year.
• The period’s result amounted to -9.6 (-7.8) MSEK / -1.01 (-0.82) MEUR
• Earnings per share amounted to -0.31 (-0.31) Swedish crown/share / -0.03 EUR
• Cash flow amounted to -33.7 (-16.8) MSEK / -3.5 (-1.77) MEUR

Subsequent to the report period’s release

• The order backlog for ASRE in China* stands at 17.4 MW (megawatts) solar energy installations, as compared with a backlog in the area of 8.68–10.68 MW reported for the same period the previous year.
• On the strength of robust sales developments, a new five-year cumulative sales goal (2017-2021) has been set at 605 MW for ASRE in China, as compared with the previous cumulative sales goal (2015-2019) set at 230 MW.
• These 605 MW are estimated to be fully coupled to the central electric network in the year 2022, generating an annual income amounting to over 1 billion SEK (105 million EUR), as compared to the earlier estimated annual income figure of 400 million SEK (42 million EUR) to be generated in the fiscal year 2020, based on a fully coupled capacity of 230MW.

*Order backlog is defined here as contracted installations that are neither under construction nor set in operation.

CEO comment

Under 2016, our strategy has been to continue investing in our targeted growth areas and thereby lay the groundwork for future earnings. With aim of building a stronger SolTech Energy for the company’s shareholders in 2017, we have chosen to direct significant economic and personnel resources into three main areas, specifically: ASRE in China, our exclusive cooperation agreement with Sapa Building Systems in the Nordic and Baltic regions, as well as the further development of our unique product SolTech ShingEl , which serves as both a roof panel and solar cell that generates electricity.

Our development in China has been very strong during 2016, and thus far this year we have booked orders equivalent to 17.4 MW, which a a good start, especially with thought to the 50 MW duly set for the entire year. As a result these successes, we have – in consultation with our Chinese partner ASP (Advanced solar Power Hangzhou Inc.) raised our sales goal for ASRE and simultaneously extended our five-year goal, 2015-2019, to include the years 2020 and 2021. Taking into account these added years, our updated sales goal now reflects a total sold, electric producing capacity of 605 MW. Fully set into operation, this volume is estimated to generate a continuous annual income of over 1 billion SEK , starting the year 2022, and with a handsome profit margin as well.

Read the full report here (Swedish): Year-end 2016 – SolTech Energy Sweden AB (publ)

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

The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s market abuse regulation.596/2014, as well as the law (2007:528) concerning the securities market. Said information is furnished, via the above-cited contact person’s authorization, for publication on 24 February 2017, at 07:00 CEST

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

Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech is the majority (51%) owner and Advanced Solar Power Hangzhou Inc. (ASP) the minority (49%) owner. The business model consists of having said jointly owned company, ASRE, responsible for the installation, ownership, and periodic maintenance of solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, in combination with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2017 and beyond, with the goal of obtaining by the close of 2021 an installed capacity of 605 MW (megawatts), which in 2022 will be set into full operation, generating current annual sales amounting to slightly over approximately 1 billion SEK (105 MEUR).

Release