Savosolar has established a strong brand as a reliable supplier of large solar heating systems, and the company’s total number of systems already exceeds 100,000 m2, which demonstrates Savosolar’s ability to supply value-added energy plants to customers. The market is growing globally with the ever-accelerating demand for clean energy production, and recent changes in the competitive situation open up ever greater opportunities for Savosolar to increase market share by being the technology and quality leader in the industry and via the references in which the customers are highly satisfied. The Company wants and needs to meet the growing market demand and therefore the Company plans to arrange a capital raise.
The capital raise consists of a EUR 4.3 million rights issue, secured to 80 per cent, including three series of warrants that can raise up to EUR 13.0 million additional capital during 2020-2021.
Augment is acting financial advisor to Savosolar in connection with the transaction.