As previously announced in Swedish: WTR signs framework agreement with Absolicon on the acquisition of a production line for the solar collector T160 in Peru

Information in English related to the regulatory Swedish Press release of 2020-04-08

Waste away Tecnologias para Residuos SAC (WTR) has signed a framework agreement with the Swedish company Absolicon to acquire a production line for the solar collector T160 in Peru. The total sales value covered by the agreement is estimated at € 4-5 million, additional € 4 million investment for the raw material, a monthly license fee of 4% and sales of components.

Absolicon’s production lines for concentrating solar collectors can change the energy supply for individual industries and entire cities. The Andean region in the west part of South America with Peru, Chile, Bolivia, Ecuador and Colombia has many places with high solar irradiation.

WTR and Absolicon have now signed a framework agreement on the acquisition of a production line for establishment in Peru to supply the region with high end solar thermal panels.

The cooperation is building on the experience from the directors Luis Felipe Olaechea Alva and his brother Julio Arnaldo Olaechea Alva who together has been importing and commercialization of sustainable technology in the agricultural, food and mining industry for 35 years.

The company signing the framework agreement is one of the companies that the brothers control. WTR has been formed to focus on sustainable technology for food industry but the company will now widen the focus to solar energy.

During the years, the founders of the company has had business with over 1800 local municipalities and many companies in the food and waste industry.

The market segments identified by WTR where they already have business relations are:

• Heat for food and beverage industries
• Heat for the mining industry in South America with companies like Nexa Resourses, Buenaventura and Goldfields.
• Heat for fishing industry like the Pesquera Hayduk with 6 factories

Future market may also be

• Heat for desalination plats
• Introduction of district heating as 9 million people is living above 1000 m

Content of the framework agreement

The framework agreement is not binding but prescribes the general principles for the separate agreements to be drawn up. Absolicons sales revenues can be grouped into three groups: acquisition of the production line, licensing revenue and revenue from material sales.

The production line is the same model as the one Absolicon has in Sweden and the one that the company already delivered to Sichuan Province. The line with two six-axis robots has the capacity to produce 50 MW solar collectors (100,000 m2) per year. Along with the hardware, Absolicon provides consulting support for marketing work and technical support, development and technical training.

The total value of hardware and activities covered by the agreement is estimated at € 4-5 million and for the additional € 4 million from the raw material sales.

If WTR fails to fulfil its commitments at every stage, they lose the right to complete the acquisition but can recoup some of the purchase price, however not for Absolicons accrued costs.

Next step

Now more detailed contract writing is taking place. Payment is made step by step in the same way as in the previous sale of the production line to Sichuan Province.

The cooperation is still in an early stage and discussions has just started about the first pilot installations of the T160 in Peru.

For more information:

Joakim Byström CEO of Absolicon Solar Collector AB

E-mail: joakim@absolicon.com
Phone: 0611-557000

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 ground breaking performance and delivering a first production line to the Chinese province of Sichuan, Absolicon has built a robotized production line in Sweden for demonstration for interested customers and for own production of solar collectors.

This information is information that Absolicon Solar Collector AB earlier has made public in Swedish pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on april 8:th, 2020.

Joakim Byström vd Absolicon Solar Collector AB

E-post: joakim@absolicon.com
tel: +46-611-557000

Pressbilder: http://www.absolicon.se/nyheter/pressbilder/ 

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 Sweden and one in China that can produce 50 MWp(th) annually, one 5.5 m2 solar collector every six minutes. The company combines solar energy research with sales of solar collector fields to industries that need heat and steam and complete robotic production lines for T160.