Midsummer Italia orders two DUO research and development platforms for thin film deposition from parent company

[Stockholm, Sweden, and Bari, Italy, March 24, 2022.] Midsummer Italia, the wholly owned subsidiary of Swedish thin film solar cell manufacturer Midsummer, has placed an order for two units of Midsummer’s upgraded research and development tool DUO from its parent company.

The recently signed contract has an order value of EUR 9.872m [approx. SEK 103m] to be paid by Midsummer Italia to the Swedish parent company Midsummer AB (publ).

The two R&D DUO machines have already been assembled at Midsummer’s factory in Sweden and are in the process of being shipped to Italy where they will be installed at Midsummer Italia's new factory in Bari and are expected to start producing solar cells by the end of the year. Besides producing Midsummer’s range of standard thin film solar cells, Midsummer Italy intends to use the machinery also for R&D projects aimed at increasing performance of the cells as well as developing special-purpose solar cells for space applications.

Midsummer’s manufacturing equipment model DUO is used to mass-produce solar cells. For advanced research, an upgraded version of DUO is used which, among other things, enables even greater variations in processes due to greater flexibility in the choice of process gas and more frequent temperature readings. Process improvements confirmed by Midsummer R&D DUO can be directly applied to the Midsummer DUO production system. It is this upgraded R&D DUO that Midsummer Italia has now ordered, to be followed by orders for a number of standard DUO’s later this year to eventually reach the annual 50 MW production capacity.

Midsummer Italia awarded EUR 38m EU incentives

In October last year, it was announced that Midsummer Italia has been awarded incentives of approx. EUR 38m [approx. SEK 396m] in the form of grants and soft loans by Italy’s investment institution Invitalia to establish a manufacturing facility for light and discreet thin film solar roofs in Bari, including the purchase of several R&D DUO and DUO ready-made production systems for the mass production of durable, flexible and cadmium-free thin-film solar cells (CIGS) with a minimal CO2 footprint.

The grants and loans are part of Italy's 'Recovery and Resilience plan', which covers a total of just over 190 billion euros from the EU.

Midsummer’s unique DUO system has become the world's most widespread production system for flexible thin-film solar cells. The production capacity at the Italian factory will be 50 MW per year which will make Midsummer Italia the largest producer of thin film solar cells in Europe. The factory is expected to commence mass scale production by the end of 2022.

Italy has very favorable subsidies for the installation of solar cells for homeowners, over 100 percent, which allows property owners to install solar cells on their houses at no cost. Midsummer Italia has already closed three deals with Italian roof manufacturers/installers and building materials distributors for 15 MW of the 50 MW annual production capacity at the Bari factory.

Please see images attached, and links to other images and press material: Press – Midsummer.

For additional information contact:

Peter Karaszi
Head of Communications, Midsummer
Email: peter.karaszi@midsummer.se
Tel: + 46 70 341 46 53

About Midsummer
Midsummer is a Swedish solar energy company that develops and markets equipment for the production of thin film solar cells and also manufactures, sells and installs solar roofs. The solar cells are of CIGS technology and thin, light, flexible, discreet and with a minimal carbon footprint compared with other solar panels.

The solar roofs are produced in Sweden using the company’s own unique DUO system which has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world. The Company’s shares (MIDS) are traded on Nasdaq First North Growth Market with G&W Fondkommission as Certified Adviser, phone: +46 (0)8-503 000 50, email: ca@gwkapital.se. For more information, please visit: midsummer.se

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