Planet Soar has signed a framework agreement with Absolicon for the acquisition of a production line for the T160 Solar collector in
Content of the framework agreement
The framework agreement describes the separate agreements to be drawn up in the process. Absolicon's proceeds from the sale can be grouped into three groups: acquisition of the line, license revenue and revenue from material sales.
1. Sale of the production line
The production line is of the same model as Absolicon has in
The total value of hardware and activities covered by the agreement is estimated at € 4-5 million.
2. License to manufacture T160
For the right to manufacture T160 under Absolicon's intellectual property protection, take part in future product development and use Absolicon's trademark, a monthly license fee of approximately 4% applies to the sales value.
The production line in full production produces on a shift 50 MW solar collector (100 000 m2) per year with sales value € 20-25 million which with 4% license fee would mean about € 800 000 per year in license revenue. Absolicon's estimate, however, is that it takes time for Planet Soar to develop the solar thermal market for industries in the region so that these volumes can be achieved.
3. Material supply
Through the agreement, Absolicon ensures access to patented components and high-quality inputs partly manufactured in
At full production, the production line needs to buy materials for € 10-15 million per year where 40% - 50% of purchases may go through Absolicon and 50% - 60% from local subcontractors. The outcome for Absolicon depends to some extent on the result of Absolicon's ongoing material investment.
The framework agreement sets out overarching principles
The framework agreement prescribes the general principles for the separate agreements to be drawn up, and the steps to be taken before a binding agreement for the acquisition of the production line can be signed. The estimated value of sales is subject to change as well as the definitive design of the production capacity of the production line. Absolicon estimates today that the sales value of the agreement is at the lower end of the range of € 4-5 million.
If Planet Soar fails to meet its commitments at every stage, they lose the right to complete the acquisition and then have the opportunity to recover part of the purchase price, but never for Absolicon's incurred costs.
Market potential
Planet Soar is a renewable energy company based in
Absolicon and Planet Soar have signed a framework agreement for the acquisition of a production line for establishment in
The collaboration is built on the qualified network and experience of Planet Soar as well as their commitment in helping those who are taking action for the future of the planet.
The largest segments of Absolicon's solar collector technology in the region are:
·
· District heating
· Pulp and Paper
Next steps
Planet Soar will now undergo an online training and start marketing deployment.
Discussions have just begun on the first pilot installations of the T160 in
* iea.org.com
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
Joakim Byström vd
Email: joakim@absolicon.com
Phone: +46 611-55 70 00
Press: https://www.absolicon.com/press-news/press-material/
Absolicon is a listed Swedish solar energy company, specializing in concentrated solar heating. The solar collector T160 operates up to 160°C and has the highest optical efficiency ever measured for a commercially available small parabolic trough. After achieving groundbreaking performance, Absolicon has built two robotized production lines, one in
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