U.S. Markets open in 5 hrs 46 mins

Savo-Solar signs a contract for the delivery of solar collector field to Ystad Energi in Sweden

Savo-Solar Plc
Company Announcement            21 March 2017 at 8:30 a.m. (CET)

Savo-Solar signs a contract for the delivery of solar collector field to Ystad Energi in Sweden


Savo-Solar has signed a delivery contract with Ystad Energi AB for the delivery and assembly of a solar thermal collector field for the roof of Ystad Arena sports hall. The value of the contract amounts to ca. SEK 2.4 million, i.e. to approximately EUR 250,000. The delivery is scheduled to take place in spring 2017.

Savo-Solar won the tender for the delivery of the solar collector field in November 2016, and the negotiations of the actual contract was initiated after the complaint period connected with the tender. During the negotiations, the size of the delivery grew to become three times larger than originally planned.

The delivery is Savo-Solar`s first delivery of to a Swedish district heating customer and serves as a good reference for future Swedish customers.

Jari Varjotie, Managing Director of Savo-Solar: "I am very pleased with the contract. Winning the tender was itself good, but the expansion of the delivery during the negotiations was even better as the customer saw the value of our solutions to them. In the production of this delivery we are able to utilise the recently modernised coating line and our new production methods for improved cost-efficiency and better profitability."

SAVO-SOLAR PLC

For more information:
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Certified Adviser
Mangold Fondkommission AB
tel.: +46 8 5030 1550

This company announcement contains information that Savo-Solar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by above-mentioned contact person on 21 March 2017 at 8:30 a.m. (CET).

Savo-Solar in brief
Savo-Solar 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, Savo-Solar helps its customers to produce competitive clean energy. Savo-Solar`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. Savo-Solar 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 17 countries on four continents. Savo-Solar`s 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.

The Company`s Certified Adviser is Mangold Fondkommission AB, tel.: +46 8 5030 1550.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Savo-Solar Oyj via GlobeNewswire

HUG#2089277