Milestones in delivery contract with Grenaa Varmevaerk achieved according to schedule


Savosolar Plc
Company Announcement                   7 November 2018 at 1.30 p.m. (CET)

Milestones in delivery contract with Grenaa Varmevaerk achieved according to schedule

As earlier informed, Savosolar Plc (“Savosolar” or the “Company”) is doing a turnkey delivery of a solar thermal system to Grenaa Varmevaerk A.m.b.a. in Denmark. Project is advancing well and by end of this week 50% of the collectors will be mounted. Savosolar has passed two more payment milestones; starting the mounting of the collectors and starting installations at the technical building. With these milestones Savosolar has so far received 50% of the contract value (contract value approximately EUR 3.5 million) as payments from the customer. Hand-over is still planned to take place at the end of February 2019


For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734

This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 7 November 2018 at 1.30 p.m. (CET).

Savosolar in brief

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 17 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH.

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

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