Sweden’s SolTech Energy makes, among other things, glass roof panels with inbuilt solar energy; technique and products are protected by a number of patents. Recently, SolTech stepped into the fast-growing Chinese solar energy market by signing a far-sighted contract, covering solar energy installations on roofs, with Advanced Solar Power. SolTech is now well on its way to being listed on First North at Nasdaq Stockholm. In connection with this listing, the Company is offering a new issue of shares for 50 MSEK, with the aim of strengthening expansion in Sweden and China. The subscription period remains in effect until May 27, 2015, and the projected first trading day for the stock – assuming the application is approved – is the 24th of June 2015.
SolTech’s solar energy solutions either replace or are integrated with existing roofs and facades. An installation makes it possible to both save on electricity costs and reduce environmental impact. At the turn of 2014/15 a change was made in Swedish law that now makes it possible for independent entities to receive 60 öre (roughly: € 6 cents) per kilowatt hour (kWh) for all the renewable energy they produce that is feed into a licensed electrical network (note: max payment per year is 18,000 SEK = roughly: €2,000).
“Our technique makes it possible to build a simple, lasting and attractive product,” says Frederic Telander, CEO of SolTech Energy. “In addition, it often works out to be a good purchase economically, since many customers will make use of the electricity they need, and can sell the surplus.”
Near the turn of the year, a collaborative contract was signed with Woody Bygghandel for the purpose of increasing the marketing and sales of SolTech’s products in Sweden: Benders has also stated that it is interested in offering SolTech products through its market channels. Today, SolTech has installations in eight countries, and in the future, China is expected to be, far and above, the most expansive market.
“China is the world’s largest solar energy market and has preconditions related to doing business that are completely different from those found in Sweden. Environmental challenges have driven the nation’s government to set up ambitious goals with respect to solar energy capacity and to vigorously seek to write contracts with various actors in the market. We have now stepped in – along with a local actor – and the business potential is big. In addition, it feels good to be a part of the solution to China’s enormous environmental challenges,” concludes Frederic Telander.
Thus far in China, two test installations, corresponding to 454 kW, have been set up, and their yearly return on investment is approximately 20 % per annum. The business model encompasses the installation, ownership and operation of solar energy units that are installed on the roof of a customer’s building. Customers are bound to a long-term contract (20 + years) to purchase all the electricity or thermal heat that the installation generates. In addition, the owner of the installation receives subventions from the Chinese state based on delivered kilowatt-hours. Over the course of 2015 the goal is to install solar energy units sufficient to reach a sum total capacity of 5 MW, and from there to end of 2019 the sum total capacity is expected to increase to 260 MW.
Solar energy facts
- Solar energy is the energy source that, according to the IEA (International Energy Agency), is deemed to become, with respect to electricenergy, the world’s largest by 2050.
- Solar cells continue to increase in Sweden, according to the Energimyndigheten (roughly: Sweden’s Energy Authority). Year 2014 witnessed the installation of 36.2 MW, which almost doubled the 19.1 MW recorded for 2013. Many will invest in solar cells for the sake of the environment, economy, and the feeling of self-sufficiency.
- Eight of ten people (81%) wish they could produce their own energy and be independent of electric companies, according to a study-survey carried out by the World Nature Fund in Sweden. Over 1,100 people responded to the survey and eight out of ten (82%) thought that politicians and decisions-makers should do more to contain global warming. Interest was greatest for solar energy, 49 percent, while only 13 percent wish to have their very own windmill on their property.
For more information, please contact
Frederic Telander, CEO SolTech Energy
Phone: +46 8 441 8846
SolTech Energy in brief
SolTech Energy develops and sells a solar energy system based on research carried out over several years at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology). The system is a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or level-surface glass) that function as both weather protection and sun-catchers for the production of heat, warm water and electricity. The assortment of suitable glass also includes unique fine-filmed 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 2,700 shareholders and plans to have its stock listed on Nasdaq/OMX, First North during the month of July 2015. For more information see: www.soltechenergy.com.