Savosolar has agreed bank guarantee limit with Nordea

Savosolar Plc
Company Announcement,                           10 September 2020 at 11.30 a.m. (CEST)

Savosolar has agreed bank guarantee limit with Nordea

Savosolar Plc has agreed with Nordea Bank Plc’s Finland’s Startup & Growth unit a bank guarantee limit of EUR 0.9 million. This limit is in force for 12 months. The company uses the limit for guarantees required during project deliveries and warranty periods. Finnvera Plc provides the bank with a counter-guarantee of 50 per cent of the limit. At the same time, Nordea will become Savosolar’s primary banking partner.

Jari Varjotie, CEO of Savosolar: “We are very pleased to start a banking partnership with Nordea and see Nordea’s competent, international service offering supporting our progress towards our own growth goal. We have worked to improve profitability and cash flow, and it also helps our company to arrange financing, as exemplified by this Nordea bank guarantee limit.”


For more information:

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

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 10 September 2020 at 11.30 a.m. (CEST).

About Savosolar

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 almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH.

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

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