Advanced Soltech is investigating the possibility of carrying out a preference share issue of up to SEK 75 million

The purpose of the proposed capital raising ahead of the planned listing is to be able to take advantage of the good business opportunities that the company now has in China. The new capital intends to be invested in into roof-top solar energy facilities

Advanced Soltech's CEO, Max Metelius comments:

There is strong conversion pressure in the energy sector towards renewable production and Advanced Soltech sees a strong demand for our offering. We have several large projects with good profitability in our pipeline and in order not to lose momentum on our growth journey, we now want to investigate the possibility of raising capital in the form of another preference share issue.

For more information, please contact:

Max Metelius, CEO Advanced Soltech Sweden AB (publ)
Phone: +46 (0) 72- 316 04 44. 
E-mail: max.metelius@advancedsoltech.com

About the China venture

in China ASAB operates through, its wholly owned local subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd, ASRE and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead enters an agreement to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from subsidies. The goal is to have an installed capacity of 1,000 megawatts (MW) which is fully connected to the electricity grid by 2024. ASAB is 50.82% owned by Soltech Energy Sweden AB (publ) and 48,83% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.

This information is information that Advanced SolTech Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-07-06 11:00 CEST.

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Advanced Soltech is investigating the possibility of carrying out a preference share issue of up to SEK 75 million