PRESS RELEASE

Finnish firm Savo-Solar enters LatAm market

By
Thursday, August 24, 2017

PRESS RELEASE

Finnish company Savo-Solar has signed an agreement with Mexican firm Jorgensen to gain a foothold in the market for large solar thermal energy plants in Latin America. The agreement gives Jorgensen the exclusive dealership right to sell and deliver Savo-Solar products and solutions in Mexico, Peru and Chile.

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Flemming Jørgensen, CEO of Jorgensen, said: "I am very proud to partner with Savo-Solar. Their innovation, the most efficient flat plate solar collector for industrial installations, enables our customers to produce more energy with less use of land. Large solar collector fields in Denmark delivered by Savo-Solar are good references and a tremendous proof of quality to my customers and me."

Jari Varjotie, managing director of Savo-Solar: "Latin America is a region with a huge unused potential for solar thermal plants. The region has developed industries and has a sunny climate which makes solar technologies very attractive from an economical point of view."

"To be able to offer the customers the level of service that they deserve, we need to have a strong local presence. With our alliance with Jorgensen we are now able to offer this. The customers will be doing business with a local company that is at their service in their own time zone, and still getting the most efficient technology for their use," he said.

"Jorgensen has the competences, experience and local network and we have the technology and track record of successful large installations - this combination makes us the perfect energy solutions provider for industrial customers in Latin America," added the executive.

Savo-Solar, with its highly efficient collectors and large-scale solar thermal systems, aims to take solar thermal technology to the next level. The company's collectors are equipped with patented nano-coated direct flow absorbers and with this leading technology Savo-Solar helps its customers produce competitive clean energy. Savo-Solar's vision is to be the first-choice supplier to high-performance solar installations on a global scale.

The focus is on large-scale applications like district heating, industrial process heating and real estate systems - market segments with great potential for rapid growth. The company primarily delivers complete systems from design to installation, using local partners.

The company has sold and delivered its products to 17 countries on four continents.

Savo-Solar's shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH.