Savosolar has won a tender for solar district heating in Germany for Fernwärme Ettenheim GmbH

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Savosolar Plc
Company Announcement             9 July 2019 at 1.30 p.m. (CEST)

Savosolar has won a tender for solar district heating in Germany for Fernwärme Ettenheim GmbH

Savosolar has been selected as the preferred supplier for approximately 1,700 m² solar collector field and 200 m³ heat storage for the German city of Ettenheim, Southwest of Stuttgart. The value of the delivery is expected to be over 800,000 EUR. The delivery is expected to happen mainly in 2019, and the final performance test and system hand-over is planned for Q1 2020.

The ground-mounted solar thermal system with Savosolar’s premium flat-plate collectors will add fuel-free heat production and also heat storage to the already existing wood chip burner. The district heating operator, Fernwärme Ettenheim GmbH, awaits final building permit as well as financing and subsidy approval, expected to be finalised in a few weeks. After that, the contract will be closed for turn-key delivery.

Jari Varjotie, CEO of Savosolar: “This project is remarkable for us we have invested a lot in the German market and our efforts now bear fruit.  The future in Germany looks promising, as large-scale solar thermal with flat-plate collectors gains momentum, as the latest forecasts show, and our first German project will turn into a strong reference! We are happy to see Fernwärme Ettenheim GmbH to go 100% renewable and lead by example; and we are pleased to be chosen to be part of this positive development.”

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

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 9 July 2019 at 1.30 p.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 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. www.savosolar.com.

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

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