Planet Soar in France pays SEK 1 million as part of the framework agreement for the acquisition of Absolicon Production line in France
Absolicon has 2022-09-30 published a press release on the payment from Planet Soar. The following is an English translation of that press release
Absolicon and Planet Soar have on 11[nd] of January 2021 signed a framework agreement on the acquisition of a robotic production line for concentrating solar collectors in France. The robotic production line has the capacity to produce one solar collector every six minutes, equal to 100,000 square meters of solar collector per year.
Since the agreement was signed, the companies have been working together to develop the French solar heat market with a focus on heat for industries.
France has a wide industrial sector which consumes around 60 % of total energy as heat, emitting 40 Mtons of CO\2\ every year*. By replacing only 10 % of fossil fuels used in the industries with Absolicon solar collectors to supply industrial heat demand, the estimate market potential for the T160 solar collector can be up to 8 million sqm (4GW).
As part of the framework agreement with Absolicon, Planet Soar has paid SEK 1 million towards a bank guarantee. The payment means that Absolicon is now ordering critical equipment and electronic components with long delivery time to supply a production line to France.
Planet Soar is a renewable energy company based in France, that supports several actors in the deployment of renewable energy project infrastructure. Planet Soar provide solution such as financing, development, supply chain and project management. Together with its partners, Planet Soar deploy or supply the most innovative products and solutions to their respected markets.
Absolicon Solar Collector was established in 2005 and provides solar heating solutions for industries and cities. Absolicon's parabolic solar collectors are the market leader in solar heating for industrial processes. By selling local production lines for solar collectors, Absolicon can provide a profitable, easy-to-install and emission-free energy solution that delivers heat and steam to industrial processes and district heating networks.
This disclosure contains information that Absolicon is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-09-2022 11:00 CET.