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Our Mission
Our mission is to accelerate the transition to solar energy where the need is greatest
In China we add real value by investing in solar power replacing coal, which accounts for nearly 70 per cent of electricity generation.
An investment in Advanced Soltech generates both good financial returns and benefits the environment.
Our Story
Committed to contributing to a greener future
Advanced Soltech is a solar energy development company founded by SolTech Energy Sweden AB (publ.) and Advanced Solar Power Hangzhou Inc. in China – two companies committed to doing great business by doing good. We aim to contribute to a more sustainable energy mix by leveraging the clean, reliable and cost-effective energy of the sun.
We were early to recognize the potential of the Chinese energy market, which is the largest in the world and keen to find creative solutions to solve its environmental problems.
The company was founded in 2014. The same year our first two installations totalling 445 kilowatts were built in China. From 2015 to 2019, the company’s expansion of installations accelerated with very strong growth and installed capacity now amounts to over 100 megawatts.
There are plenty of business opportunities in China. The main thing that can stop us from reaching our ambitious business and environmental goals is if we are not successful in continuously raising capital to build our solar energy facilities.
Key historical milestones of Advanced Soltech
Our Business Model
Successful business model that benefits all stakeholders and the environment
Advanced Soltech’s business model is to finance, install, own and continuously manage solar energy solutions on the roofs of our clients; mainly medium-sized and large private public companies, state-owned companies and organisations such as universities. The client does not pay for the solar facilities but commits on 20-year contracts to buying all the electricity that their respective installation generates.
Ongoing revenue comes from the sales of electricity to our clients. Our strategy is to build an order book aiming at an installed capacity of 1,000 megawatts by 2023 and that is fully connected to the power grid by 2024. The exact annual rate of installation depends on the availability of capital.
Solid contracts with the clients provide long-term and stable cash flows while ensuring the company’s ownership of the facilities.
Our clients in China, our investors and Advanced Soltech itself all benefit from this business model, as does the environment.
Swedish-Chinese partnership and co-ownership key to success
The owners of Advanced Soltech, SolTech Energy Sweden AB (publ) and Advanced Solar Power Hangzhou Inc., have a 51 per cent share and 49 per cent share respectively in the company.
Advanced Solar Power Hangzhou Inc. was founded in 2008 by Ben Wu and his father, Professor Xuanzhi Wu. The company is a world leader in thin film solar cells and has a fully automated plant in Hangzhou in China with an annual production capacity of approximately 80 megawatts. It is, to date, the only company in the world able to produce semi-transparent CdTe thin film solar cells.
Advanced Solar Power Hangzhou has an extensive portfolio of patents and new patents are filed on an ongoing basis. The company is owned by the Wu family, the employees and a number of institutional investors such as Legend Capital, North Light Venture Capital, Morningside Venture Capital and Sequoia Capital.
Advanced Soltech raises capital in order to invest in solar energy facilities in China. This is mainly achieved by issuing green bonds but also by issuing shares to institutional investors and private investors.
A listing of Advanced Soltech’s shares is planned for the first part of 2020 on Nasdaq First North Growth Market.
Advanced Soltech owns 100 per cent of the shares in Advanced SolTech Renewable Energy Hangzhou Co. Ltd., the sales and project company that runs day-to-day operations in China. In addition to this, Advanced Soltech also owns 100 per cent of the shares in Longrui Solar Energy (Suqian) Co. Ltd. which is a holding company that was established when Advanced Soltech received a framework agreement to build 500 megawatts of solar electricity in the Jiangsu province.
For additional information about SolTech Energy Sweden AB (publ) please visit soltechenergy.com and for more information about Advanced Solar Power Hangzhou Inc. please visit advsolarpower.com
There are plenty of business opportunities in China. The challenge so far has not been sales, but rather finding suitable financing to match the business potential. In all, a very attractive business situation.
How it Works
Effective and favourable cooperation for all parties
Sweden-based Advanced Soltech handles the financing and management of the company’s Chinese subsidiary. In China, we have operations in fully owned subsidiaries whose 11 full-time employees in Hangzhou handle sales, procurement, monitoring, administration and management of our solar cell plants.
For sales and distribution in China, we utilize our Chinese part-owner and partner Advanced Solar Power Hangzhou’s national network of approximately 30 dealers who both sell and install the solar plants in their respective regions.
Advanced Soltech pays provision for completed transactions and a fixed price for the installation, through the subsidiary Advanced SolTech Renewable Energy. This allows Advanced Soltech to enjoy a small, cost-effective and flexible organization with low fixed costs. The distributor takes no risk for purchasing the material and receives compensation for performance while at the same time being responsible for the maintenance of the facilities. In all, a very effective and favourable cooperation for all parties.
Meet the Team
Frederic Telander
CEO
frederic.telander@advancedsoltech.com
Telefon: +46 8 441 88 46
Mobile: +46 70 525 16 03
Lars Vilhelmson
Controller
lars.vilhelmson@advancedsoltech.com
Telefon: +46 8 441 88 40
Mobile: +46 70 544 92 07
Patrick de Muynck
Member of the Board of Directors since 2020
Born 1956
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Education : University of Brussels Solvay College Other assignments
Chairman of Ymer SC AB Chairman of Dagar hf Non executive Director of International Consumer Services Sweden AB Non Executive board member of Kara Connect ehf
Contact
Phone
+46 8 425 031 51
Email
info@advancedsoltech.com
Address
Tegnérgatan 1
111 40 STOCKHOLM
SWEDEN
Our mission is to accelerate the transition to solar energy where the need is greatest. In China we add real value by investing in solar power replacing coal, which accounts for nearly 70 per cent of electricity generation. An investment in Advanced Soltech generates both good financial returns and benefits the environment.