Company Announcement 19 March 2018 at 8:00 a.m. (CET)
Savo-Solar to start sales and marketing of turn-key deliveries in Australia
Savo-Solar has signed a cooperation agreement with Geoflow Australia Pty Ltd concerning the sales and marketing of solar thermal fields and turn-key solutions for utilizing solar thermal energy in the region Australia and New Zealand. According to the cooperation agreement, the companies are focusing on large-scale solar thermal installations and their marketing is done under the brand Savosolar Australia. Geoflow acts as the local partner for Savo-Solar and is in charge of turn-key system deliveries to customers in the region. Savo-Solar is supplying the equipment and participates also in projects when necessary.
Geoflow is a design and installation company offering renewable large-scale heating and cooling solutions in Australia. Geoflow has the highest skills in design and combining different sources of renewable energy including geothermal heating and cooling. Geoflow is the only company in Australia to have Certified Geothermal Designer and with the recent design of a 10,000m2 solar thermal collector system combined with geothermal heating in Australia, Geoflow is becoming the leading company in large-scale solar thermal solutions in the region.
Dr Amir Valizadeh Kivi, Managing Director of Geoflow Australia Pty Ltd: “Australia has energy prices as high as Denmark, while having twice the solar irradiation compared to Northern Europe. Combine this with ambitious government targets for renewable energy, and Australia is a heaven for solar thermal systems. With Australia’s recent gas price hike, there is a huge potential for solar thermal systems to replace existing low-efficiency gas heaters in the industrial and horticulture heating sectors. Geoflow is now offering turn-key solutions for large-scale solar thermal systems, and with the current energy market in Australia there is a huge potential for rapid growth of projects for large-scale heating and cooling.“
Jari Varjotie, Managing Director of Savo-Solar Plc: “Geoflow is known as an active and highly competent supplier of heating systems in Australia. We are extremely happy to enter into cooperation with them, and the start has already been very promising. I am confident that with our advanced technology and competences, we are together able to offer efficient and beneficial solutions to energy users in Australia and New Zealand. “
For more information:
Managing Director Jari Varjotie
Phone: +358 400 419 734
This company announcement contains information that Savo-Solar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 19 March 2018 at 8:00 a.m. (CET).
Savo-Solar in brief
Savo-Solar 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, Savo-Solar helps its customers to produce competitive clean energy. Savo-Solar’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. Savo-Solar 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 17 countries on four continents. Savo-Solar’s shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.com.
The company’s Certified Adviser is Augment Partners AB, phone: +46 8-505 65 172.