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Savosolar wins tender in Germany to deliver solar district heating plant to Stadtwerke Lemgo GmbH

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Savosolar Oyj
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Savosolar Plc,
Company Announcement, Insider information 26 March 2021 at 12.30 p.m. (CET)

Savosolar wins tender in Germany to deliver solar district heating plant to Stadtwerke Lemgo GmbH

Savosolar Plc is selected to a preferred bidder to deliver a solar heating system to Stadtwerke Lemgo GmbH in Germany. The value of the system is over EUR 2.1 million. The delivery contract negotiations have started, both parties aiming to finalize them in few weeks’ time. Once the contract is signed, the delivery of the system will start after summer 2021.

Jari Varjotie, CEO of Savosolar: “We are very pleased that Lemgo has seen our solution the best for their needs and chosen Savosolar to negotiate the delivery of their solar thermal plant. This is showing that our determined work in German market for utility scale solar thermal turn-key deliveries is paying off. After our first German solar district heating reference in Ettenheim, which started operations last year, we now look for a five times bigger system delivery. The German heating market has big potential for Savosolar in the coming months and years as decarbonisation of the heating sector is essential and utilities want to accelerate their transition towards healthy heating. Savosolar will be ready to meet both the demand and the customers’ high expectations.”

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 26 March, 2021 at 12.30 p.m. (CET).

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 almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market 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.