16 May 2017

Three new customers in Sweden choose SolTech ShingEl

SolTech Energy has received orders for SolTech ShingEl from three new customers, cumulatively mounting to a worth of one million crowns (1,000,000 SEK/103,000 EUR). The cumulative total effect of the three installations is 47.2 KW (47,215 watts).

The following orders have been received:

  • Riksbyggen AB 

    The new tenant-owners association, Entrén, located in Åby Ängar, Vallentuna, has chosen SolTech’s electricity-producing roof material. Total effect: 25,200 watts.

  • Byggnadsmiljö ABSolTech ShingEl modules, equivalent to producing a total electrical effect of 6,919 watts, are to be mounted on a combination office and residence building in Norrköping. The deciding factor for the customer was the product’s esthetic design.
  • Privately owned large apartment building 

    SolTech ShingEl modules have been ordered for a large apartment building, consisting of 14 apartments, in Hägersten. The total effect will be 15,096 watts. The choice of SolTech ShingEl was decided on the basis of the module’s design, function and appearance.

CEO Frederic Telander comments:

  • One of the main reasons many potential customers have refrained from making use of solar energy is the strong impact the installation of traditional solar cells has on the house or building’s appearance.  Considerations, such as cost relative to the product’s lifespan, and the financial benefit over the course of the product’s lifespan, are also vital. Due to SolTech Shingel’s being both an attractive roof panel as well as a highly functional solar cell, when a roof is going to be re-laid, the cost of the roofing material can, in effect, be deducted from the cost of a solar installation. Price-wise, we are therefore well positioned and see a strong, widespread potential for ShingEl in the future.ShingEl is similar in concept to Elon Musk’s solar panels being launched in the USA via Tesla Solar, which is a development that validates our solution.

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 16 May 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 seewww.soltechenergy.com