Savosolar and Citrinsolar into sales and delivery co-operation for Germany

Savosolar Plc
Company Announcement, Insider information    21 October 2020 at 9.30 a.m. (CEST)

Savosolar and Citrinsolar into sales and delivery co-operation for Germany

Savosolar Plc and Citrinsolar GmbH have formed a co-operation agreement on sales, marketing and project delivery activities in the German market. Savosolar and Citrinsolar will co-operate in sales and delivery of large solar thermal installations, while the small-to-medium scale solar heating plants in district heating and industrial sector will be taken care by Citrinsolar, using Savosolar collector technology as the core of their offering.

CitrinSolar GmbH was founded in 2002 in Moosburg an der Isar. Since then, CitrinSolar managed to become a leading producer of small solar thermal collectors, buffer storages and the necessary system technology in Europe. With its experienced engineering background and a strong sales organisation, CitrinSolar focusses not only on the residential sector but also on larger solar thermal plants for district heating or industrial process heat.

Jari Varjotie, CEO of Savosolar comments on the co-operation agreement: "The solar thermal market is growing rapidly in Germany, especially in the solar district heating sector, where cities and towns are seeking competitive emission free heat sources. CitrinSolar, being a strong local operator in this segment already, is, in addition to Uniper, an excellent co-operation partner for Savosolar along with our own local organisation and the world leading large collector technology to meet the growing demand in German market.”

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 21 October, 2020 at 9.30 a.m. (CEST).

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.