Early on in July, CEO Frederic Telander and Chairman of the Board Stefan Ölander visited Hangchou, China. The objective of their trip was to increase focus on SolTech’s business venture in China, which has resulted in the establishment of a company jointly owned by SolTech and Advanced Solar Power Hangzhou Inc. (ASP).
Last week, it was SolTech’s turn to welcome a delegation from the city of Hanzhou. The delegation was made up of six people, headed by Mr. Chen Chen who is the Director of the “Management Commission of Hangzhou Economic and Technological Development Area”. Mr. Chen also holds the position of “Vice Mayor” in Hangzhou, a city with a population of six million. Immediately below, CEO Frederic Telander summarizes his impressions of this visit for the Company’s shareholders and employees.
In part, Mr. Chen Chen planned a visit with SolTech as part of their Scandinavian tour because our jointly owned company in China has received a bone fide order, and in part because, at meeting held between our co-partner, ASP, and local politicians, there developed a very strong interest in our joint venture in Hangzhou.
We demonstrated one of SolTech’s thermal installations for the production of heat and hot water fitted on an apartment house owned by a local residential real estate company. Mr. Chen Chen and his associates were very pleased and impressed by the unit’s function as well as its esthetic design – and not least – by a yearly saving of approximately 45% on heat.
In order to successfully conduct business in China it is vital to have political support, and Mr. Chen Chen made it clear that he will be supporting SolTech’s jointly-owned company in China, together with our local partner Advanced Solar Power Hanzhou Inc. Obviously, this does not amount to a guarantee but it is nevertheless a positive indication of a good relationship with a leading local politician in Hangzhou, China.
For more information, please contact
Frederic Telander, CEO SolTech Energy
Phone: +46 8 441 8846
Collaboration with Advanced Solar Power
The Company’s business interests in China are carried out by a jointly owned company, of which SolTech owns 51% and Advanced Solar Power Hangzhou Inc. 49%. The business model consists of said jointly owned company being responsible for the installation, ownership, and periodic maintenance of solar energy installations that are installed on customers’ roofs, most particularly for the present, in Hangzhou in the province of Zhejiang, with a view to then expanding to other regions in China. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term (20+ years) binding contract to buy all the electricity and/or thermal heat the relevant unit produces.
SolTech in brief
SolTech develops, markets, and sells solar energy systems that are a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or flat sheets) that function as both weather protection and sun-collectors for the production of heat, warm water and electricity. The assortment of suitable glass also includes unique fine-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that allow for esthetic integration with a building’s outer shell.
The wholly owned subsidiary Wasa Rör T Mickelsson AB is also included in the parent concern. SolTech Energy Sweden AB currently has approximately 5,600 shareholders and its shares are traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.