SolTech Energy and SVEA Solar enter a cooperation agreement
SolTech Energy has signed a cooperation agreement with SVEA Solar covering the sale and periodic installation of SolTech’s new building-integrated product ShingEl. The market for esthetic solar energy is in its embryonic stage, but nonetheless deemed to capture large market shares over the coming years.
SolTech Energy’s core strategy is to be an innovator, producer and supplier of unique, integrated solar energy solutions that fulfill several functions in the same product. SolTech ShingEl is just such a product with the private market as its target group, and therefore the need of a strong partner within sales and installation. SVEA Solar sells and installs solar cells throughout the country and is one of the leading actors in the Swedish solar cell market.
SolTech Energy’s CEO Frederic Telander comments:
In order to meet the ever increasing interest from private individuals and bostadsrättföreningar (roughly: Co-op apartment building associations) and similar interested parties, we can now direct these customers to SVEA Solar, which is a nation-wide solar energy installer. As earlier announced, we have sealed a contract with Rexel – one of the world’s leading electric wholesalers. With this contract with Rexel, we secure distribution and the product support that solar energy requires, as well as a widespread launching of ShingEl to building contractors and real estate firms. Through our cooperation agreement with SVEA, we now have a complete distribution strategy for the Swedish market, and thereby, have become significantly more effective. SVEA Solar has, over a short expanse of time, built up an impressive company, and we feel safe in projecting that they will serve all ShingEl customers in an exemplary way.
SVEA Solar’s CEO Erik Martinson comments:
Esthetic and building-integrated solar energy is the future. Within 4 – 5 years it is our conviction that this form of solar energy will come to completely dominate the market. We have evaluated the few similar products found in the market and concluded that ShingEl is the best, and we are therefor very pleased that SolTech has signed this cooperation agreement with us.
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 22 November 2017, 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 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 shade out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” with over 12,000 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.