Savosolar signs delivery contract for a solar thermal system to AbSOLAR in Cadaujac, France

Savosolar Plc
Company Announcement, Insider information                    8 January 2021 at 3.00 p.m. (CET)

Savosolar signs delivery contract for a solar thermal system to AbSOLAR in Cadaujac, France

Savosolar has signed a delivery contract with AbSOLAR SAS valued at approximately c. EUR 300 thousand for a solar thermal plant delivery in Cadaujac, France. Delivery of this plant will happen during first half of 2021.

Savosolar informed on 23^rd of April, 2020 of winning a pilot project to AbSOLAR and of an exclusivity agreement with AbSOLAR regarding a larger project for greenhouse with a budgetary value of approximately EUR 2.5 million. This delivery contract is for the earlier informed pilot system for AbSOLAR, and it has been awaiting the decision of the renewable energy subsidy.

This first AbSOLAR’s system will combine a solar thermal plant from Savosolar with a seasonal storage from AbSOLAR to provide heat for the local district heating network, targeting to reach nearly 100% solar fraction throughout the year. Savosolar will deliver the c. 900 m² solar collector field, piping and the solar station.

The delivery of the larger project is expected to begin also in 2021.

Jari Varjotie, the CEO of Savosolar: “We are happy that this AbSOLAR’s first project is now on its way to delivery. The overall system AbSOLAR is going to implement in Cadaujac is very interesting, providing fully clean heat to the district heating network throughout the whole year. We believe this can generate interest for several similar systems in the future, helping to speed up the reduction of the carbon dioxide emissions also in district heating. We look forward to further collaboration with AbSOLAR, starting with the next project for the greenhouse.”

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 8 January 2021 at 3.00 p.m. (CET).

About Savosolar

Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. www.savosolar.com.

The company’s Certified Adviser is Augment Partners AB, info@augment.se, phone: +46 8-505 65 172.