Savo-Solar Plc                                   
Company Announcement            2 March 2018 at 12:30 p.m. (CET)

Savo-Solar has signed the final delivery contract with newHeat SAS

Savo-Solar and newHeat SAS have signed a contract on the delivery of the largest solar thermal system in France. The contract value is over EUR 2 million and the delivery of the collector field is due to take place in summer 2018. The contract will take effect and project delivery will start after newHeat has received the final approvals and agreements. This is expected to happen latest by 30 April 2018.

The turnkey delivery covers the civil works, the collector field installed on a tracking system, piping, solar station including the heat exchanger, the control system and the heat delivery to the industrial process. Additionally, Savo-Solar has been awarded the operation & maintenance contract and will be responsible for the operation of the system. The solar thermal plant to be installed in Condat-sur-Vézère will be the largest one in France, with a collector area of over 4,000m². This will also be the first flat plate collector field in the world installed on a one-axis tracking system. The customer, newHeat SAS, will use the solar thermal plant to supply and sell heat to an industrial site. 

Savo-Solar was selected as the preferred bidder in a tender in June 2017, when the negotiations on the final contract started.

SAVO-SOLAR PLC

For more information:

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

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 2 March 2018 at 12:30 p.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.