Savosolar’s short-term working capital situation is resolved

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Savosolar Plc
Company Announcement       27 December 2018 at 12.30 p.m. (CET)

Savosolar’s short-term working capital situation is resolved

The risk previously disclosed by Savosolar Corporation (“Savosolar” or “Company”) about the sufficiency of short-term working capital has been resolved. In December the company received major payments from customers related to delivery projects, and the company has negotiated, as part of its Rights Issue disclosed earlier this month, a bridge loan of approximately 800 kEUR.

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 27 December 2018 at 12.30 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. www.savosolar.com.

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

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