Savosolar raises SEK 55 million in rights issue

12 november 2021

Savosolar is a Finnish public limited company that designs and supplies solar thermal energy systems. The heating systems use the company’s own, internationally awarded solar heat absorbers and collectors. Although the main business is turnkey delivery of heating systems, absorbers and collectors are also supplied and installed separately. Savosolar currently manufactures the most efficient large solar thermal collectors with MPE absorbers in the world. Savosolar recently supplied a solar heating system exceeding 14,000 m2 to Kyotherm Solar in Issoudun, making it the largest solar thermal system constructed in France to this day.

The net proceeds from the issue will be used to secure the company’s working capital needs, increase its financial capacity to deliver signed and future orders and increase its ability to meet the growing market demand for large solar thermal systems in both industrial processes and district heating segments.

Augment acted as financial advisor to Savosolar in the rights issue.

Read the full press release here.