SolTech Energy Sweden AB (publ)
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 function as part of a building’s outer shell that produces electricity and/or hot water. 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”. 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 is G&W Fondkommission (securities broker).
Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech is the majority (51%) owner and Advanced Solar Power Hangzhou Inc. (ASP) the minority (49%) owner. The business model consists of having said jointly owned company, ASRE, responsible for the installation, ownership, and periodic maintenance of 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 and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, in combination with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2017 and beyond, with the goal of obtaining by the year 2021 an installed capacity of 605 MW, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1000 MSEK (100 MEUR).
Wasa Rör T Mickelsson AB
In august of 2014, SolTech acquired Wasa Rör, a subsidiary dedicated to the installation and servicing of heating and sanitation systems. This expansion has enabled us to go with our customers’ focus on energy efficiency and take responsibility for a larger part of the business. For further information on Wasa Rör, do visit the website.
Solar conquers the world
The amount of energy that the earth receives from the sun over the course of an hour would be enough to cover people’s energy requirements for a whole year. The technology for capturing solar energy using solar cells was discovered as early as 1839, and has been used in space travel since the 1950s.
So, you might wonder, why aren’t all buildings and energy-hungry activities powered by solar capture technology? The reason is that, up to now, the solutions have been too expensive and inaccessible to make them financially viable.
That’s no longer the case. The problems posed by global climate change mean that we are imposing ever more stringent requirements on the ways in which we generate energy. Technological advancements, coupled with the demands of politicians, have made solar energy profitable and enabled it to grow on a broad front. Between 2010 and 2015, the price of solar energy fell by 50%.
According to the International Energy Agency (IEA), solar energy will be the biggest source of electrical power generation by 2050.