Midsummer receives new machine order from European customer

[Stockholm, Sweden, December 4, 2019.] Swedish solar energy technology leader Midsummer receives new order for two DUO systems from European customer. Normal order value for two DUO systems stretches from 7 MUSD to 10 MUSD. The current order value is within this range.

"This customer has experience of CD and DVD manufacturing as well as manufacturing of solar panels. This makes them an ideal partner for Midsummer's continued expansion", said Sven Lindström, CEO Midsummer AB. "The order from the European customer is further proof that the interest in Midsummer's flexible solar technology is increasing in the European market. It is also another step in meeting the continued high demand for Midsummer's building integrated photovoltaic solutions".

This is the first order based on the new business model presented together with the release of the Green Bond earlier this year, where Midsummer aims to establish a network of contract manufacturers for production of its innovative building integrated flexible solar panels.

The DUO machines are assembled in Midsummer's production facility in Järfälla, Sweden, and will be delivered in 2020.

For further information, please contact:
Sven Lindström
CEO, Midsummer AB
E-mail: sven.lindstrom@midsummer.se
Phone: +46-8-525 09 610

About Midsummer
Midsummer is a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Its business offering includes equipment for cost-effective manufacturing of thin film solar cells as well as building-integrated photovoltaic (BIPV) solutions. Midsummer's production process for thin film solar cells has a minimal carbon footprint compared to other production processes for solar modules. Midsummer's DUO system has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world.

Midsummer develops and markets solar panels directly to end customers from its own production and via contract manufacturers. The energy producing metal roof Midsummer solar roofs is supplied with integrated solar panels for ease of installation. Midsummer's lightweight, thin and flexible solar panels makes for an aesthetically pleasing solar roof that is also suitable to walk on.

Midsummer's proprietary technology is based on a rapid process for the production of flexible thin film solar cells using sputtering of all layers of the solar cell. The Company's share (MIDS) is 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

Important information
This information is information that Midsummer AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication at 14:00 CET on December 4, 2019.

This is an English translation of the Swedish press release. If there is any inconsistency or ambiguity between the English version and the Swedish version, the Swedish version shall prevail.

Bifogade filer

Press release (PDF) (application/pdf)

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