For more information, please contact: Stefan Ölander, CEO SolTech Energy. Tel; 070-739 80 00, email: stefan.olander@soltechenergy.com
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
The subscription period ran from September 24 to October 15, 2018. Proceeds from the bond offer provided ASAB with approximately 70 MSEK before deduction of customary new issue costs, and circa 1,290 investors have been allotted bonds within the Offer. Distribution day for the bonds is November 9, 2018. The Financial Advisor was Avanza Corporate Finance. ASAB’s function within the SolTech concern is to finance its business operation in China, which is carried out by its fellow subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE. In common with its Swedish-based fellow subsidiary ASAB, ASRE in China is also 51% owned by SolTech and 49% owned by ASP. The remaining capital required for achieving the goal set for 2018 will be partially met in form of bank loans, leasing and other credit arrangements in China and Europe, and partly by investment of the ownership’s own capital, along with capital provided by the proceeds of new bond issues carried out throughout the year.
Today’s currently installed and coupled installation capacity of 52.21 MW annually generates approximately 70 MSEK in income. Taking into account the liquidity provided by SOLT 3, the current SOLT 4, a lease financing credit for max 100 MSEK in China – along with inclusion of the just-cited currently coupled installations – calculated total capacity coupled to the central electrical network comes to circa 80 MW, annually generating approximately a total of 104 MSEK in income over the coming 20 years. Of this sum-total amount, 51 percent will be recorded on SolTech’s accounting records in accord with the Proportional Method.
CEO Stefan Ölander comments:
– Subscription to the bond offer was lower than expected. During the subscription period, our backorder log in China – in addition to the 24 MW we already had on the books – increased by circa 10 MW. In order to maintain our high pace of growth, we have accepted a lease-financing offer from a leading actor in the Chinese market for a maximum of up to 100 MSEK. This financial provision carries an annual interest rate of 8% and is amortized over the span of three years. Capital-wise, this amounts to same thing as if the bond offer had been over-subscribed. We remain on solid ground, with a very long-term income and predictable cash flow in hand. The subscription-economy model we are building in ASRE will come to further the interests of our shareholders in the two decades before us.
For more information, please contact: Stefan Ölander, CEO SolTech Energy. Tel: 070-739 80 00, email: stefan.olander@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 19 October 2018, 15:30 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 megawatts (MW) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).
The order covers the installation of a 0.3-megawatt (MW) solar energy unit that is estimated to provide annual income amounting to approximately 339,000 SEK. Over the contract’s 20-year term, cumulative income is estimated to mount to nearly 6.8 MSEK.
The installation’s annual production will be circa 300,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the span of 20 years. Over this same period, ASRE receives subsidies from Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 1.9 MSEK. It is expected to be completely finished during the month of January 2019.
CEO Stefan Ölander comments:
– We are now up to 89.54 MW of solar energy capacity, that is; when we consider the total electrical capacity now reflected in ARSE’s financial records, by combining the total capacity of existing, income-generating installations coupled to the electric network, with the total electrical capacity of installations under construction, along with the capacity of orders recently signed through this fall. When all these installations, totaling 89.54 MW, are coupled to the electrical network, they are estimated to generate a standing annual income amounting to approximately 114.5 MSEK, or close to 2.3 billion Swedish crowns (ca. 230 MEUR) in total income over the course of 20 years.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@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 15 October 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 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 (ca. 100 MEUR).
The installation will cover a roof surface area measuring circa 35,000 sq. meters (the equivalent of 5 football fields) and will produce circa 3,675,000 kWh annually. The customer is contractually committed to buying all the electricity that the instillation produces over the course of 20 years. Over this same period, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 22.1 MSEK (ca. 2.21 MEUR). It is expected to be completed during the month of January 2019.
CEO Stefan Ölander comments:
– This is our second customer-signing within the span of just a few weeks i Zhangjiagang, which is – by Chinese standards – regarded as a small city with a population of circa 1.5 million residents. The city is located some 160 kilometers north of Shanghai. Our confidence in the potential of this large region’s solar energy market is strong.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@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 10 October 2018, 07:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 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 (ca. 100 MEUR).
The installation will cover a roof surface area measuring circa 11,000 sq. meters and annually produce circa 1,155,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the course of 20 years. Over this same period, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 6.9 MSEK (ca. 0.69 MEUR), and it is expected to be completely installed during January 2019.
CEO Stefan Ölander comments:
” The business situation in China continues to be favorable. And, above and apart from the prospect of good income over a very long period of time, I take pride in the contribution we are making toward the environment. This solar installation alone reduces the charge of 1,155 tons of carbon dioxide into the atmosphere every year (at the rate of 1 kg per kWh). Or considered from another perspective: In effect, this installation is equivalent to planting 110,000 trees (10 trees per m2). ”
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@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 8 October 2018, 08:00 CET.
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 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 (ca. 100 MEUR).
According to Benders, the roofs of about 30,000 homes are replaced every year and, in addition to roof replacements, there is also the construction of approximately 12,000 new modest single-family houses. SolTechRoof is perfectly suited to customers who wish to have a solar-energy solution that is, at the same time, an esthetically pleasing roof. Moreover, when compared with a roof supporting an unattractive, add-on solar energy unit, SolTechRoof is not only competitively priced, but also raises the value of the house.
Today, the private market for solar energy is dominated by silicon solar cells mounted on top of an existing roof. These installations fall a long way short of esthetically pleasing and many homeowners shy away from compromising the appearance of their home by having them mounted. Sol Tech Energy has – since its very inception – applied itself to the goal of creating esthetic and building-integrated solar energy solutions. Two years ago, SolTech ShingEl was launched – and now comes the launch of its successor, SolTechRoof, which is larger and has an attractive price per installed kvm/watt.
SolTech RooF is environmentally smart and designed from an eco-design perspective. This means, beginning as early as the concept phase, we have consciously worked on ensuring that, when the time comes to replace it, the product will be fully recyclable, which is both climate smart and economical from start to goal. SolTech RooF is constructed to be fully integrated with the roof, with a sub-frame identical that used for common roof tiles. The concept makes production easy and cost-effective to install.
CEO Stefan Ölander comments:
– I am proud and very pleased that we are now launching an optimized successor to SolTech ShingEl, which is built on the same concept, though smaller. Traditional, outside-mounted solar cell units are clearly still selling the most, true. But everyone within the solar energy field, both in Sweden and internationally, agree that esthetic and building-integrated solar cells will very soon be taking large markets shares. We at SolTech Energy stand ready to meet that demand.
For more information please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070 -739 80 00, email: stefan.olander@soltechenergy.com
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
The installations will cover a surface measuring circa 17,000 sq. meters (roughly equivalent to 2.5 football fields) and produce circa 2,000,000 kWh annually. The customer is contractually committed to buying all the electricity the respective installations produce over the course of 20 years. During the same period, ASRE receives subsidies from the Chinese authorities, based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installations, which continue to be owned by ASRE, amounts to approximately 10.7 MSEK (ca. 1.07 MEUR). Both installations are expected to be completed during January 2019.
CEO Stefan Ölander comments:
”These orders come under the our previously released annoucement of a five-year cooperation agreement (general agreement) with the local government in the city of JinCheng concerning the installation of 50 MW of solar energy capacity. JinCheng is located southeast of Peking in the ShanXi region, which is one of China’s coal districts. Helping them obtain a more sustainable energy mix is something we are extra proud of.”
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ.).
Tel: 070-739 80 00, email: stefan.olander@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 2018, 08:00 CET..
SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 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 (ca. 100 MEUR).
The installation will cover a roof surface measuring circa 35,000 sq. meters (about the surface area of five football fields) and produce circa 3,675,000 kWh annually. The customer is contractually committed to buying all the electricity the installation produces over 20 years. Over that same period of time, ASRE receives subsidies from the Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 22 MSEK (ca. 2.2 MSEK (0.2 MEUR). It is expected to be completed during December 2018
CEO Stefan Ölander comments:
”Our new customer is a textile factory in Zgangjiagang, which – by Cinese standards – is a small city with about 1.5 million citizens. The city lies 160 kilometers north of Shanghai and we are very pleased about getting more and more customers in this vast region.”
FOR MORE INFORMATION, PLEASE CONTACT: Stefan Ölander, CEO SolTech Energy
Telephone: 070–739 80 00, email: stefan.olander@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 September 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 part of a building’s outer shell, as a roof or wall with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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
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 based on kWh production. Focus is now concentrated on building a backlog of orders for 2018/2019 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 (ca. 100 MEUR).
ASAB’s business operation is centered on financing the SolTech-concern’s construction of solar energy units in China. These units are installed, owned and periodically serviced by the jointly owned Chinese subsidiary Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE). ASAB’s income consists of interest earnings paid in on the loans provided to ASRE, or its wholly-owned subsidiaries in China. As security for these loaned out funds, ASAB will have contracted legal claim to underlying assets, which is to say; the solar energy installations, as well as customer receivable accounts, owned by ASRE in China.
SolTech and its Chinese business partner, Advanced Solar Power Hangzhou Inc. (ASP), have thus far, and in proportion to their ownership share – 51 and 49 percent, respectively – invested 190 MSEK of their own capital in ASRE. In August 2018, ASRE’s solar energy installations had a cumulative total capacity equivalent to 52.21 MW coupled to the central electric network. An additional 2.73 MW are under construction. The last installation that ASRE invested in is mounted on the roof of one China’s largest producers of wine and alcohol. The installation covers a surface measuring circa 127,000 sq. meters, or 18 football fields, with an installed effect of 12.7 MW (127,000,000 watts).
The business operation in China is growing. The goal for 2018 is to install 88 megawatts (MW) of solar energy capacity, which corresponds to an investment of approximately 616 MSEK. ASRE has a backlog amounting to circa 24 MW, and a circa 95 MW pipeline project that is periodically being processed. It is to address this backlog and to convert this pipeline to a concrete project that the investment capital is needed.
CEO Stefan Ölander comments:
– The SolTech concern’s new-installation pace is going to accelerate as a result of this financing. And as you’re aware, the more solar energy units we get installed and coupled – the faster we generate long-term, positive cash flow. The potential is immense. As it stands today, SolTech’s installed and income-producing solar energy installations are generating approximately 50 MW more electricity than the just-over 2 MW of installed capacity reported two years ago when ASAB issued its first bond. Investing in ASAB’s bonds, in addition to securing a handsome yield, is investing money where it makes a concrete and highly apparent environmental good: We are helping China replace coal energy with solar energy.
SUMMARY OF THE OFFER
Subscription period: September 24 – October 15, 2018
Denomination and nominal amount: 5 000 SEK per bond. The minimum amount to subscribe is four (4) bonds (20 000 SEK): Thereafter, in increments of one (1) bond.
Interest: 8.25 % annually
Interest due dates: January 15 and July 15, with first payout falling due on January 15, 2019.
Bond release date: November 9, 2018
Bond repayment date: November 8, 2023
Preliminary first trading day: November 12, 2018
Bonds amounting to a sum total value of 150 MSEK are offered within the framework of the offer. However, the bond issue’s maximum value can amount to 300 MSEK (ca. 30 MEUR): The Company intends to allocate Bonds over the amount of 150 MSEK in the event the Offer is oversubscribed. Should the Offer be subscribed to the maximum amount of 300 MSEK, the new issue costs would then amount to approximately 10 MSEK.
The complete prospectus, officially approved by the Swedish Financial Supervisory Authority (Finansinspectionen, FI), as well as a summary of the Offer may be downloaded, as of September 24, 2018, from ASAB’s homepage: www.advancedsoltech.com. In addition, this information can also be accessed for downloading on the homepages of Avanza: www.avanza.se. and Finansinspectionen: www.fi.se. Printed copies of this documentation are also available at the SolTech concern’s office located at Upplagsvägen 1 in Stockholm (Årstaberg).
For more information, please contact:
Frederic Telander, CEO Advanced SolTech Sweden AB (publ.); Tel: 08-441 88 46, email: frederic.telander@soltechenergy.com, or Stefan Ölander, CEO SolTech Energy Sweden AB (publ.); Tel: 070 739 80 00, email: stefan.olander@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, Stefan Ölander’s authorization for publication on 20 September 2018, 14:00 CET.
Advanced SolTech Sweden AB (publ) – ASAB
For the express purpose of financing investment in China, the SolTech concern’s parent company and its partner in China, Advanced Solar Power Hangzhou Inc., have formed ASAB. ASAB’s business operation is centered on financing, via making loans to the concern’s companies, solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned local subsidiaries. As security for said loaned out funds, ASAB holds contractual claim to underlying assets (solar energy installations and customer receivable accounts). The company’s Certified Advisor is Mangold Fondkommission AB, Tel: +46 8 5030 1550. For more info, see: www.advancedsoltech.com.
SolTech Energy Sweden AB (publ) – parent company of the SolTech-concern
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 or wall, for the production of electricity. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 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.
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 2018-19 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 (ca. 100 MEUR).
The installation will cover a roof surface measuring circa 5,000 m2 and annually produce ca. 500,000 kWh. The customer is contractually committed to buying all the electricity the installation produces over the 20-year term. Over the same period, ASRE receives subsidies from Chinese authorities based on every kilowatt-hour (kWh) delivered to the customer. Investment in the installation, which continues to be owned by ASRE, amounts to approximately 3 MSEK (0.29 MEUR). The installation is estimated to be completed during the month of December 2018.
CEO Sefan Ölander comments:
– Shaoxing is a city with 4 million citizens, located in the northeastern section of ASRE’s home-province, Zhejiang. To lend some perspective on the extensive business possibilities in Shaoxing, a Chinese city that most Swedes are totally unaware of, it is four times the size of Stockholm. We continue to expand in China according to plan, with a definitive feeling of strong support from the authorities.
For more information, please contact: Stefan Ölander, CEO SolTech Energy. Tel: 070 739 80 00, email: stefan.olander@soltechenergy.com
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 6 September 2018, 08:30 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” and has over 15,000 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
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 (ca. 95 MEUR).