Company Release 2 July 2015 at 7.30 am (CET)
Savo-Solar signs a contract with Løgumkloster on delivery of solar collector field
Savo-Solar Ltd. has signed a contract on the delivery of a solar thermal collector field of approx. 5,500 square metres with the Danish district heating plant Løgumkloster Fjernvarme. The value of the contract is approximately EUR 1 million, a big part of which is reflecting to the revenue of Savo-Solar already at the end of this year. The installation and the handover of the field are taking place in the beginning of 2016.
The contract concerns the second stage of the Løgumkloster solar thermal collector field. The first stage of the field amounting to 9,600 square metres was also delivered by Savo-Solar and started production in the middle of June. As an extension to the existing fields Løgumkloster Fjernvarme is planning to install a further 36,000 square meters field by the end of 2016.
Jari Varjotie, Managing Director: "We are very pleased with the continued cooperation with Løgumkloster. The new contract proves that we have been able to meet the customer's demands. The contract further strengthens our positions in the fast growing market of solar district heating in Denmark, and the collector fields in Løgumkloster serve as excellent references also in other countries."
Peter Andersen, Head of Operations at Løgumkloster Fjernvarme: "We have been very satisfied with the previous deliveries of Savo-Solar, and therefore it was a fitting sequel to continue cooperation with them also in the new project."
For further information:
Managing Director Jari Varjotie
Phone: +358 400 419 734
Savo-Solar in brief
Savo-Solar provides solar thermal systems for heating of buildings, industrial processes and domestic hot water. Savo-Solar's systems are based on the verified world's most efficient 2 m2 collector utilizing MPE-absorbers with several patents pending. The absorbers are coated with a highly selective optical nano-coating. Savo-Solar is, according to the available information, the only company able to coat ready-made, complete absorbers. Focus is on large scale industrial applications such as district heating, industrial process heating and energy renovations of large buildings. Since 2011 the company has sold and delivered its products in over 17 countries on four continents. Savo-Solar's class A shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.fi.