SolTech’s subsidiary, Advanced SolTech, examines the possibility of issuing a secured senior bond
ASAB has previously issued four bonds, primarily directed toward private individuals and all are listed. SOLT1 is listed on the First North Bond Market, and SOLT2-4 on First North Sustainable Retail Bonds. Solt2-4 are green bonds and have, in fact, been classified as “Dark Green” by the independent institute Cicero, which certifies that all funds are invested in environmentally friendly projects.
ASAB’s business operation consists of financing the construction of solar energy instillations in China, which are installed, owned and periodically serviced by the SolTech concern’s jointly owned Chinese subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (ASRE) ASRE has a comprehensive order back log that steadily increases. Consequently, the need of capital to meet this growth is strong. For this reason, ASAB is now examining the possibility of issuing bonds directed toward a more professional investment faction on the Nordic bond market. With this goal in mind, ASAB has authorized JOOL Markets as Financial Advisor with regard to evaluating the possibility of issuing a secured senior bond.
For more information, please contact: Frederic Telander, CEO Advanced SolTech Sweden AB (publ). Tel: 070-525 16 03, 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 December 2018, 07:00 CET.
Advanced SolTech Sweden AB (publ) – ASAB
With the goal of providing current financing for investment in China, the parent SolTech concern and its partner in China, Advanced Solar Power Hangzhou Inc., have created ASAB. The mission of ASAB’s business operation is to finance, by means of making loans to the parent concern, solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned local subsidiaries. Security for the loaned-out funds consists of the underlying assets (solar energy installations and customer receivables). The Company’s Certified Advisor Mangold Fondkommission AB ,telephone no. +46 8 5030 1550.For more info see: www.advancedsoltech.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 Erik Penser Bank. For more information see: www.soltechenergy.com
Investment in China
SolTech’s investment in China is carried out by Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner, Advanced Solar Power Hangzhou Inc. (ASP). 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 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).
