Savosolar hands over solar district heating plant in Ettenheim, Germany

Savosolar Plc
Company Announcement            16 October 2020 at 9.00 a.m. (CEST)

Savosolar hands over solar district heating plant in Ettenheim, Germany

Savosolar has handed over the 1700m m² solar collector field and 200 m³ heat storage installation to Fernwärme Ettenheim GmbH. Published originally in September 2019, the project has faced delays due to the Covid-19 pandemic.

The 1,2MW solar thermal plant replaces woodchips and oil as sources of heat for the local district heating network, saving approximately 150 tonnes of CO2 emissions per year with no increase in energy costs to heat users. The turnkey delivery is the first project in the German market for Savosolar which has several similar references in France.

The customers representative, Peter Blaser, General Manager of the district heating operator Fernwärme Ettenheim GmbH, said: "We are proud to have made the decision to not just replace an outdated CHP gas motor with a new one. Rather, we took on our responsibility for the next generation and went to further decarbonise, even solarise our heat supply. The nearby school will be a main off-taker of the solar heat and our move to go solar is very well received amongst the students as with the whole community. By making use of free heat from the sun we are saving about 150 t CO2 each year. Also, the heat price for all clients will stay stable.”

Jari Varjotie, the CEO of Savosolar: ”We are very pleased that Fernwärme Ettenheim, one of the forerunners of renewable energy in Germany chose us to deliver their solar heating plant – and proud that we have one more satisfied customer. The Ettenheim project is a landmark project for Savosolar, it is our first project in Germany, and also an important milestone for us as the global leader of solar district heating. We believe this 100% clean heating plant for the city of Ettenheim will increase interest in solar thermal solutions for other communities in Germany."

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 16 October, 2020 at 9.00 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.