Savosolar Plc
Company Announcement            28 May 2019 at 2.00 p.m. (CEST)

Savosolar delivered extension to solar field to Jelling Varmeværk

Following two years successful operation of the 15,300 m2 solar field delivered in 2016, Savosolar has delivered an extension of 4,835 m2, making the Jelling solar thermal plant the second largest Savosolar plant, totaling 20,135 m2. The extension solar field started-up in April 2019 and following a successful operational test period, the solar thermal plant has now been handed over to Jelling Varmeværk.

The solar fraction in Jelling district heating system is expected to exceed 100 % of daily heat demand during periods of the summer season, which is covered by using the heat storages and the dry cooler, now also being part of the district heating system in Jelling. This illustrates that the value of the added solar thermal heat in spring and autumn is higher than the costs of balancing the solar heat production when there is more heat than is needed (even exceeding the heat storage capacity), as well as the capital costs for the added capacity. The yearly solar fraction is expected to exceed 25 %.

Jari Varjotie, CEO of Savosolar: "We are extremely proud of this significant delivery. Delivering the second solar thermal plant to a client is a good indication of a satisfied customer. Jelling Varmeværk will, with this extension increase the solar fraction in their heat production to even higher levels. Now also Jelling solar plant exceeds in size 20,000 m2, demonstrating that Savosolar large scale solutions are feasible for utilities everywhere."

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, "MAR"). The information was submitted for publication by the aforementioned person on 28 May 2019 at 2.00 p.m. (CEST).

About Savosolar

Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company's collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar's vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems - market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to 17 countries on four continents. Savosolar's shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.com.

The company's Certified Adviser is Augment Partners AB, info@augment.se, phone: +46 8-505 65 172.