“This is by far our largest single offtake agreement to date and further proof of how attractive our thin film solar cells are for the electricity-producing roofs of the future,” comments Midsummer's CEO Sven Lindström. “The production from our new and planned mega factories are being taken at a rapid pace.”

According to this new letter of intent, Midsummer will deliver at least 303 MW of solar panels to this northern European player in the years 2023 through 2027. In total, Midsummer has now signed offtake agreements for the pre-sale of more than 700 MW of solar panels to be delivered from is new and planned mega-factories that Midsummer is currently seeking finance for.

In a first step, Midsummer seeks to expand annual production capacity by 20 MW, with a possible scale-up to 200 MW. In addition, the factory in Bari, Italy that Midsummer is completing will have a production capacity of 50 MW, a large part of which is already taken through agreements with a number of Italian construction and roof companies.

In November, Midsummer announced the signing of ten letters of intent for a total of just over 330 MW of solar cells, see here and here.

Midsummer's thin film solar cells are produced with in-house developed world-leading machinery. The company owns the entire value chain and the technology, processes and businesses are commercially proven after decades of experience as a manufacturer of unique production lines as well as solar panels and solar roofs.

Midsummer's CIGS solar cells require no silicon, no aluminum frames and no glass encapsulation, which, together with efficient material consumption, production and installation, has created the world's most environmentally friendly way of producing electricity known today with a climate footprint that is only one-tenth that of silicon panels.

Links to images and other 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