On January 9, 2014, the board of directors of SolTech decided, in accord with the authority granted at the annual stockholders meeting held on June 24, 2013, to carry out a new stock issue for a maximum of 12,500,000 Swedish crowns (roughly €1,350,000) in order to ensure the capital necessary for continued expansion. The issue is directed to the general public for the purpose of further widening ownership of the Company prior to the planned listing on NASDAQ/OMX during the fall of 2014, at a per share price of 8 Swedish crowns. The issue extends to a maximum of 1,562,500 shares and, if fully subscribed, proceeds to the Company will amount to 12,500,000 Swedish crowns, before deduction of the usual new issue costs.
- The company finds itself in a very expansive phase, with good market acceptance and strong interest in its products, both in Sweden and abroad. More and more building owners are starting to realize that not making use of the energy flooding over their roofs is no longer acceptable.
- During 2013, the system has been sold in Sweden, Spain, Germany, Russia and Greece.
- Directing focus on our own sales: Further development of existing and new collaboration with agents, distributors and other sales channels in Sweden and abroad, requires further capital.
- During 2013, the Company’s products – SolTech Sigma, SolTech Power, and SolTech Flex – for the production of thermal heat and electricity, along with necessary upkeep-heat and ventilation in summer homes, have contributed to segments in the TV do-it-yourself home improvement program “Äntligen Hemma” (Home at last), presented on TV 4.
- During 2013 the Company has held the exclusive right to sell CdTe fine-film solar cells in Sweden, Norway, Denmark and Finland from one of two manufacturers in the world of this type of solar cell. The combination of being more effective in diffuse light, high quality of manufacture, and less sensitivity to high temperatures, allows this this type of solar cell to produce approximately 10% more kWh per installed watt/year in comparison with crystalline silicon cells.
- The year 2014 has begun well with an order from county district that will be building a new daycare center for children. Parallel to this, the installation of two single-home systems is in progress and a number of large offers have been sent out to customers awaiting decision.
A complete information memo and report form is available and can be downloaded as of February 5, 2014 at: www.soltechenergy.com and www.aktieinvest.se.