QPT has transferred the local government’s frame agreement with a potential value of 80 MSEK to Parans Light Technologies Ltd (PLT)
This press release is based on the press release published in Swedish on April, 2021.
According to the Investment Agreement between QPT and Parans Solar Lighting, QPT has now transferred the first frame agreement with a potential total order value of 80 MSEK for five separate projects.
On March 26, 2021, QPT signed a three-party "Cooperation Agreement" with the Jihongtan Sub-district Government of Chengyang District and the government urban investment platform company Qingdao High-Train Town Investment Group Co., Ltd. According to this agreement, the local government and its platform company will give priority to purchase QPT’s and, subsequent PLT’s LED lights, 5G smart towers and fiber solar lighting systems in accordance with laws and regulations in the following five construction projects with an estimated investment demand of approximately 80 MSEK within two years as listed below:
- Innovation Park Project: The planned land area of this project is 27.5 acres, with a building construction area of 75,000 square meters, and it is expected to be completed in 2021.
- Zhongche Avenue Project: Has a total length of 12.5 kilometers, a road width of 50 meters, and a green area of about 100,000 square meters. The project is expected to start construction in 2021 and be completed in 2022.
- Aodong Road Project: The total length is 7.1km, the pavement width is 50 meters, the subgrade section width is 80 meters, and the total project investment is RMB 2.5 billion. The project started construction on April 8, 2020 and is scheduled to be completed and opened to traffic in May 2022.
- Shuangchuang Park Project: The planned land area of the project is 100 acres, with a building construction area of 300,000 square meters, and is expected to be completed in 2022.
- EMC Project of Jihongtan Sub-District Office: There are thousands of traditional streetlights in Jihongtan Sub-District area that need to be exchanged. The Jihongtan Sub-District Office selects QPT and PLT to carry out LED IoT streetlights replacement with EMC model (Energy Management Contract).
According to the Investment Agreement signed on 6 May 2020, QPT's future purchase orders and customers will be transferred to PLT. This is the first executed transfer according to this agreement. The customers involved in the strategic "Cooperation Agreement" signed by the above three parties and approximately 80 million SEK in potential sales orders is transferred to PLT, and PLT will sign direct sales contracts with the customers, while QPT will assist PLT to complete the signing.
It should be pointed out that PLT is a wholly-owned subsidiary established by Parans in China. It has now completed its registration and will begin formal operations.
Dr. Xiqing Sun, Chairman of Parans, who is in charge of PLT operations, says: “Now, as PLT starts operations, it will deeply cultivate the Chinese market, vigorously develop a network of franchise agents, and work hard to bring a steady stream of sales orders and growing sales revenue to Parans.
The CEO of Parans Anders Koritz says: “Parans’ future growth momentum will come from PLT’s capabilities and performance in the Chinese market. We feel confident in a strong positive commercial development during 2021.
For more information, please contact:
Anders Koritz, CEO at Parans Solar Lighting AB (publ), phone. +46 733 21 16 35, anders.koritz@parans.com www.parans.com
About Parans Solar Lighting AB (publ)
Parans Solar Lighting offers sunlight for indoor environments through an innovative system that captures and leads the rays of the sun. Parans, which developed the technology, turns mainly to property owners, architects and larger employers worldwide. Parans Solar Lighting is quoted on Spotlight Stock Market and has office in Mölndal, Sweden.
How the Parans system work: https://youtu.be/eflcbj2lpWo
This information is information that Parans Solar Lighting AB (publ)is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on April 6, 2021.