Savo-Solar Ltd.          Company Release                   12 April 2016 at 4:30 pm (CET)

Savo-Solar proposes Kenth Granljung, Christof Gey and Michael Mattsson as new independent candidates for the board of directors to strengthen market, sales, financing and IR competence

At the Annual General Meeting to be held on the 19th of April 2016 shareholders representing approximately 30 per cent of the company’s shares and votes will propose the above mentioned as new company independent candidates to the board. The same shareholders propose that current members Feodor Aminoff and Sami Tuhkanen be re-elected to the board.

Director Sami Tuhkanen at Sitra: “The largest shareholders wanted to strengthen the board with industrial experience and understanding on large scale renewable energy heating systems in various market areas as well as with experience and knowledge on the Swedish capital markets and investor relations. We are very pleased with the three new board candidates who fit very well to these requirements. With the additions of Kenth, Christof and Michael the board would be well prepared to support the company in its rapid growth.”

 

The new candidates to the board comment as follows:

Kenth Granljung: “Savo-Solar is in a very interesting phase having a strong value proposition based on a unique product and a solid know-how. I would like to be a part of the future journey. I will contribute in the internationalization, growth strategies and strategic trade-offs based on the experiences mainly from cleantech and HVAC”.

Christof Gey: “The energy from the sun is clean and free of charge and using it for heating is very efficient. The Savo-Solar team has extensive know-how, uses the latest technologies for manufacturing the world’s most efficient solar thermal collectors – that makes Savo-Solar a unique baby giant. I wish to give at Savo-Solar’s disposal what I have learnt by trial and error during my 37-year career of designing, producing and marketing solar thermal systems and, moreover, my vast international network”.

Michael Mattsson: “Savo-Solar constitutes a unique investment opportunity in a niche of the growing cleantech industry, through its first-in-class large scale nano-tech absorbers, combined with proven market acceptance. As a board member I will partake in securing Savo-Solar’s prosperous future from a financial viewpoint, cost control and stock market aspects.”

CV’s of new proposed candidates

Kenth Granljung, born 1971, M.Sc. (Engineering Physics) and MBA (International Business)
Kenth Granljung is Regional Director Nordics at Swegon Group and has successfully held several international senior management positions at IMI Hydronic Engineering, Climatewell AB and Vacon Group. Further he has held international sales management positions at Siemens and ABB. Kenth has more than 15 years of global business experience of HVAC, Cleantech, Industry and Energy. Member of the Board at ComSys AB since August 2014.

Christof Gey, born 1964, M.Sc. (Mechanics)
Christof Gey works for Solarstation SVS GmbH as consultant and with import and retail in the solar and heating market internationally with customers among other places in China (Linou-Ritter, Himin), USA (NTS-Solar), Canada (Enerworks, ArntjenSolar), Spain (Isophoton), Poland (Hewalex), Sweden (ClimateWell) and Germany (Consolar, Solvis, MP-TEC, Ferro, NARVA Lichtquellen GmbH etc). 1999 he founded GeySol and acted as CEO until 2004, manufacturing and selling solar collectors. 1995-1999 he worked for Erwin Maier GmbH, a heating constructor and 1993-1995 as engineer at Ing. Büro geTec.

Michael Mattsson, born 1973, M.Sc. (Stockholm School of Economics; BA/Finance)
Michael Mattsson works as professional investor, entrepreneur (2013- Svenska Pannkakshuset AB, 2006-2010 Åre Skilodge AB) and board member (QuiaPEG Pharmaceuticals AB and Copperstone Resources AB), 2011 as M&A advisor (US acquisition) to a subsidiary of Mellby Gård AB, 2003-2009 Kaupthing Funds, Private Banking/Asset Management and Kaupthing Investment Banking & Business Control, Sthlm; 1996-1999 and 2001-2002 Enskilda Securities, Corporate Finance, Stockholm; 1999-2001 Enskilda Securities, New York working at The Blackstone Group for the M&A-alliance.

SAVO-SOLAR LTD

 

For more information:

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

Ingrid Östhols, communication 
Phone: +46 721 810 867 
E-mail: ingrid.osthols@savosolar.se

Certified Adviser

Mangold Fondkommission AB
Phone: +46 (8) 5030 1550
E-mail: info@mangold.se

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