Message from the Managing Director
Dear shareholders and potential investors
Savo-Solar's MPE-collectors have been tested by several customers and institutes and have thereby been proven to be the most efficient collectors on the market. By investing in Savo-Solar's products the customers are securing a predictable and low energy cost for the life time of the collectors, which is on average 25 to 30 years.
We have filed patents for the production of absorbers as well as for solutions which further increase the efficiency of solar thermal system installations, and thus even further reducing the roof or land area required for the energy production.
People behind Savo-Solar
Savo-Solar has an exceptionally strong team for a relatively young company with wide international experience in several areas. The founding members of the team are internationally renowned for their knowledge and experience in vacuum nano-coatings and R&D expertise. After initial development of the products, the company has step by step built competences in other parts of operations as well.
The current team includes people who have been working in top management positions in globally operating industrial companies, with expert knowledge in project sales and deliveries as well as in the field of solar heating systems. Additionally, the team has extensive knowledge of district heating market in Denmark and elsewhere, as well as the international industrial process heating markets. With this team, the company is ready for fast growth and capable of turning the technological advantages into a profitable global business.
Based on our efficient MPE-absorbers we have developed the largest collector on the market, 15m2 in size, optimised for solar district heating systems. In addition to the collectors, Savo-Solar has the skills, knowledge and experience with its partners to design, deliver and install complete solar thermal systems for large-scale projectsSavo-Solar is very well-known and respected in its field with coverage from many magazines and industrial specialists that have named Savo-Solar the most innovative company in the industry. Even though our current focus is on sales and customer operations, we intend to keep this title in the future. We constantly invest in product development in order to maintain the best solutions for the needs of the growing renewable energy market. In addition to further developing the large area system concept we also explore solar thermal cooling. The solar thermal cooling market has the potential to become larger than the solar thermal heating market due to the cooling demand in sunny and hot countries.
We believe that with our products, the solar thermal energy has taken several steps closer to being the clean energy source able to operate profitably without governmental subsidies. We have successfully entered some of the most competitive markets and see great potential for fast growth in these markets. As a key element of our success, we have a strong international and very motivated team to conquer the world. We now invite you to join us in our journey for success and enjoy both the ride and the results of that journey.
Jari Varjotie, Managing Director
Solar thermal solutions are the global leader in non-traditional renewable energy by installed capacity of 435 GWth. That is almost twice as much compared to total installed electrical capacity of solar cell panels (Photovoltaic). In energy generated it is the second only to wind power and is considered to have the highest potential of renewable energy sources in the future. Solar thermal is already in many places competitive compared to conventional heat production.
Savo-Solar is focusing on the rapidly growing segment of large to very large installations, in which Savo-Solar's solutions are very competitive. This segment includes 1) the district heating market, specifically in Denmark and Germany, but also France, Italy, Austria, China and Finland 2) industrial systems for process heating (e.g. mining and beverage industries) and 3) energy renovations of old multi-storey buildings. This segment also has less competition, and their customers are strongly focused on the efficiency of the systems. Savo-Solar delivers both collectors and complete systems including design and installations according to customers' expectations. Delivering complete systems increases the value added and the turnover of the projects for Savo-Solar.
Savo-Solar's main competitors are those who deliver large systems and have their own large area collector production. There are less than five such competitors globally.
Another segment of growth is building integrated solutions, and as a part of that, Savo-Solar offers PVT-systems (photovoltaic thermal systems producing both electricity and thermal energy). In this PVT-segment Savo-Solar's products offer many benefits, particularly higher heat transfer efficiency, which competitors are not able to offer. This benefit optimises the electricity production of the solar cells while at the same time providing heat energy.