The CEO, employees and members of the board of solar energy technology leader Midsummer was today present at Nasdaq Stockholm to ring the opening bell for listing of the Green Bond at the Sustainable Bond List of Nasdaq Stockholm. Trading of the Green Bond, which was issued on 25 April 2019 with an amount of SEK 200 million [USD 20.6m], has now started on the Sustainable Bond List of Nasdaq Stockholm.
The Green Bond opens up for expansion
With the Green Bond listed on Nasdaq on the Sustainable Bond List of Nasdaq Stockholm, Midsummer will continue to expand at the factory in Järfälla, Sweden. The production capacity is being expanded and during the summer the company has received new equipment to further increase its production capacity.
"With the Green Bond listed on Nasdaq on the Sustainable Bond List of Nasdaq Stockholm we will be able to capitalize on our strong business momentum. We are encouraged by the strong interest for our strategy, business model and the interest to financially support Midsummer's continued efforts to further strengthen our leading position within the rapidly growing market for light weight thin film solar cells", said Midsummer's CEO Sven Lindström.
Midsummer has a distinct sustainability profile and sustainability is a natural and integrated part of the company's business. The proceeds from the Green Bond will be used to facilitate production and distribution of solar panels and solar cells; production of solar cell manufacturing equipment; research and development of solar panels, solar cells and manufacturing equipment as well as providing financing solutions for sales of the manufacturing systems.
Minimal carbon footprint
Midsummer's production process for thin film solar cells has a minimal carbon footprint compared to other production processes for solar modules, for example for silicon modules, which has been confirmed by life cycle analyses carried out by independent environmental analysis companies. An ever-increasing focus in renewable energy is now directed towards the total carbon footprint, i.e. not only the amount of energy that the end product consumes or produces, but also the amount and type of energy required for the manufacture and operation of the product – a discussion that has exploded when it comes to e.g. electric vehicles. Midsummer's flexible thin film solar cells have a carbon footprint of only 1/10 of what silicon panels have.
For photos of thin film CIGS solar cells and the Midsummer manufacturing equipment, please go to https://midsummer.se/press/media-gallery/ or contact Mr Lindström.
Stockholm, Sweden, August 22, 2019.
For additional information please contact:
CEO, Midsummer AB
Phone: +46 (0) 8 525 09 610
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 Stockholm with G & W Fondkommission as Certified Adviser, phone: +46 (0)8-503 000 50, email: email@example.com. For more information, please visit: https://midsummer.se
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 13:30 CET on August 22, 2019.