Corporate Governance

Advanced Soltech is a Swedish public (limited liability) stock company planning on being listed on Nasdaq First North. The company adheres to Nasdaq First North’s regulations for issuers.

Advanced Soltech was formed in Sweden and registered with Bolagsverket (the Swedish Office for Company Registration) on March 30, 2016 and has been conducting its business operations ever since that date. The company complies with the regulations of the Swedish Companies Act’s (2005:551), along with other relevant laws and ordnances in Stockholm, Sweden, where the company is headquartered.

Board of Directors

Advanced SolTech’s Board consists of five ordinary members elected by the Annual General Meeting, including the Chairman of the Board, who have been elected for the period up to the end of the 2020 Annual General Meeting.

Frederic Telander

CEO and Board Member since 2016
Born 1964


Frederic was CEO of SolTech Energy Sweden AB (publ) from 2009 to 2018. He is one of the largest investors in the company and held the position as Chairman of the Board from 2007 to 2009. Frederic has always taken great interest and focused on business development within environment and climate-smart technology. Experience from the family owned construction company Telac Construcciones SA, which with 300 employees was one of the largest private construction companies in southern Spain until the 1990’s. Previously partner at EIG Venture Capital Ltd., an investment company focusing on early stage investments in energy efficiency and clean tech. In 2001 to 2008, Frederic led the expansion of the Gas Turbine Efficiency AB Group which grew from approximately 1 MUSD to more than 35 MUSD in turnover. During the same period, he structured and capitalised the company, recruited key personnel, and negotiated agreements with clients such as Rolls Royce, Siemens, Pratt & Whitney, Statoil, etc. Previously Vice Chairman of GTE plc. and head lead in the listing process of the same company on the AIM list at the London Stock Exchange in December 2015 and the listing of SolTech Energy Sweden AB (publ) at First North at Nasdaq, Stockholm, in June 2015.


Business Administration at Stockholm University.

Other ongoing assignments

CEO and Board Member at Sactum AB, Chairman of the Board at SolTech Energy Sweden AB (publ), Chairman of the Board at Advanced SolTech Renewable Energy Hangzhou Co. Ltd. and Board Member of NP Gruppen Aktiebolag

Stefan Ölander

Chairman of the Board since 2016 and Board Member since 2016
Born 1964


Stefan is one of the largest investors in SolTech Energy and a board member, serving as Chairman of the Board from 2013 to 2018. Stefan’s background includes having been the Director of Communications for SEB and Kinnevik. He is also the founder of Rewir, which was Sweden’s leading branding consultancy during the first decade of the 2000s. In 2006, Stefan sold Rewir to the Intellecta Corporate Group, which is listed on the Stockholm stock exchange. He continued as CEO of Rewir up until the fall of 2010, besides holding the position as Chairman of the Board in six of Intellecta’s consulting firms in Sweden and Denmark. In 2011, Stefan invested in Zacco, a leading consulting company within IP (Internet protocol), operational in five countries with total sales amounting to approximately 600 MSEK. Today, Stefan is one of the three largest owners of Zacco and is a member of Zacco’s Board of Directors. Over various periods, Stefan has been both CEO and Chairman of the Board of Zacco.

High School academic degree, majoring in economics.

Other ongoing assignments:

Member of the Board of Zacco AB (publ), Chairman of the Board in Advanced SolTech Sweden AB (publ) and Board Member of Advanced SolTech Renewable Energy Hangzhou Co. Ltd.

Ben Wu

Board Member since 2016 and CEO of Chinese Advanced SolTech Renewable Energy
Born 1973

Ben is founder and CEO of the successful thin film manufacturer Advanced Solar Power Hangzhou which he started together with his father in 2008. Ben is also CEO of Advanced SolTech AB’s Chinese company Advanced SolTech Renewable Energy. Prior to this, Ben had a long career within business development and finance as a management consultant with McKinsey from 2004 to 2006 and as an analyst at Himalaya Capital from 2002 to 2004, amongst other assignments. In 2007 to 2008, before founding Advanced Solar Power Hangzhou, Ben had a prominent role at Lenovo, whose investment company also became the first external investor in Advanced Solar Power.


MBA in Finance and Marketing, Columbia Business School.
MS in Mathematics and Computer Science, Colorado School of Mines.
BS in Mathematics and Computer Science, Colorado School of Mines.

Other ongoing assignments:

Board Member at Advanced Solar Power Hangzhou.

Gang Bao

Member of the Board since 2016 and COO of Chinese Advanced SolTech Renewable Energy
Born 1969

Gang has operational experience from sales and business development in Chinese Advanced SolTech Renewable Energy since 2015. Prior to that, from 2012 to 2015, Gang was Head of Marketing and Sales and responsible for building a sales platform in approximately 30 different countries. Between 2008 and 2012, Gang held the position as Production Manager at Advanced Solar Power Hangzhou developing the manufacturing process for the company’s thin film modules (CdTe). Before joining the solar energy industry, Gang worked with sales and as a developer at different software companies.

MS in Mathematics and Computer Science, Colorado School of Mines.
BS in Mathematics, ShanDong University, JiNan.

Mats Holmfeldt

Deputy Board Member since 2016
Born 1964

Mats has been active in the banking and finance industry for 25 years with leading positions and Board of Directors assignments at for example SEB, Swedbank, and Intrum Justitia.

Over the past few years, Mats has also been an advisor and board member in a number of start-ups and innovation companies in various industries, but mainly within FinTech and Green Finance.

Mats has a solid experience of leading both companies and operations in Sweden and internationally with over 800 employees and SEK 500 billion in assets, as well as start-ups, from ideation to launch and commercialisation.

Business Administration and Ecnomics at Stockholm University. Board of Directors training at Michael Berglund Board Value.

Other ongoing assignments
Board Member at Paynova AB (publ). listed on NGM, Nordic Growth Market.


Frederic Telander


Telefon: +46 8 441 88 46

Mobile: +46 70 525 16 03

Max Metelius


Telefon: +46 8 441 88 40

Mobile: +46 72 316 04 44

Lars Vilhelmson


Telefon: +46 8 441 88 40

Mobile: +46 70 544 92 07


The largest shareholders as of November 25, 2019

General Meeting

he Annual General Meeting is Advanced Soltech’s highest decision-making body. At the Annual General Meeting, shareholders exercise their voting rights on key issues such as setting upon income statements and balance sheets, outline of the company’s profits, granting discharge to the members of the Board of Directors and CEO, election of board members and accountants as well as compensation to the Board of Directors and the accountants.

In addition to the Annual General Meeting, Extraordinary General Meetings can be convened. In accordance with Advanced Soltech’s articles of association, notice is given to the Annual General Meeting and Extraordinary General Meeting through announcement in Post- and Inrikes Tidningar as well as by making the notice available on Advanced Soltech’s webpage. The fact that notice has been given is announced in Svenska Dagbladet.

Processing of personal data

For more information on how your personal data is processed please click here

Articles of Association

The Articles of Association of Advanced Soltech Sweden AB (publ) were appointed at the Extraordinary General Meeting 2019

Articles of Association, in Swedish

Sustainability Policy

Our Business Operation

Advanced Soltech is a company within the renewable energy sector, founded on a vision of contributing to global climate improvement by providing various solar energy solutions for the production of electricity. We help our customers convert from fossil-based energy to solar energy and also work to create and develop innovations for tomorrow’s energy markets. The Advanced Soltech concern’s business operation consists of solar services, financing installation and operational maintenance of solar energy installations and sales of electricity to commercial clients. The company’s primary geographical focus China through Advanced Soltech Renewable Energy Hangzhou Co. Ltd.

For Advanced Soltech, sustainable development entails taking into account the long-term impact of our company’s operation – economically, environmentally and socially. More specifically, our planning and operational activities are intended to reflect, to the greatest extent possible, due responsibility for the environment, climate, employee wellbeing and our interests. Advanced Soltech ́s sustainable policy defines our standpoint and set of values coupled to sustainability, while the company’s code of conduct and fundamental principles describe how we shall act in order to live up to our stated standpoint and set of values, both internally and externally.

The sustainable principles we hold to in our work build upon and reinforce the four inherent principle-based goals we seek to achieve: (1) … reduction/elimination of fossil-based fuels; (2) … a reduction in the use of harmful chemicals and toxins; (3) … a reduction in the persistent, incremental destruction of the environment through deforestation, overfishing, etc., as well as; (4) … a manifest respect for the fundamental needs of humanity, which is to say, our fellowmen.

Economic, financial responsibility

Advanced Soltech ́s overall economic goal is to generate a good return on investment to its shareholders. A profitable company is a fundamental requisite necessary to our being able to achieve our goals within the company’s business operation. In order to make use of a farsighted perspective and build a strong company that carries out its operation with focus on sustainability issues, we must be profitable. To this end, Advanced Soltech shall work to secure solid financing, responsible investment and prioritize financial counter parts that have a good and lasting business agenda/ethic. The organization will focus on establishing sound risk- management; partly by identifying instances of non-acceptable risk exposure within the company, along with actively making plans and otherwise engaging in work related to reducing such exposures.

Environmental responsibility

Advanced Soltech shall offer services that are environmentally friendly, and likewise, products that are manufactured with the least possible consumption of resources and energy, and with low environmental impact, as well. Sound resource management is a keyword within the company and great focus is leveled on resource use, no matter the specific purpose: Whether energy, office space, garbage disposal, travel, or shipping – all are examined and, where circumstances warrant, reasonable measures are taken to reduce their usage. Advanced Soltech works systematically and prevents pollution through its goal-oriented environmental work, which has been, and remains, an integrated part of the company’s culture. Today’s on-going environmental requirements, together with other vital environmental aspects and environmental goals, constitute the foundation for our work.

Social responsibility

Advanced Soltech shall safeguard the company’s interests and the integrity of collaborating partners and take care to handle information so that it is protected and managed in a responsible manner. We have a definitive and open focus on sustainability, and work to make the advantages of our standpoint more abundantly clear so that we can expect our collaborating partners to also share our values and code of conduct. Co-workers, or colleagues if you will, are one of the company’s most vital assets. It is through their engagement, development and competence that we are able to create a culture where we and our partners truly thrive. We strive to attain a working climate and environment that will make the best possible workplace for all co-workers. As employer, we undertake our responsibility by offering every employee continuous development and responsible work.

Further vital policies

Diversity enriches: We are therefore pro-active in issues related to the equality of opportunity and respect due every individual regardless of race, ethnic origin, gender, religious status or cultural background. We support and adhere to the principles advanced in the UN initiative Global Compact.

Sustainability Policy