TubeSolar AG

  • ISIN: DE000A2PXQD4
  • Land: Deutschland

Nachricht vom 16.09.2020 | 17:41

TubeSolar AG: Free State of Bavaria supports innovative agro-photovoltaic solutionwith adouble-digit million euro amount - Bavarian Minister of Economic Affairs Hubert Aiwanger personally hands over notice of funding in Augsburg (news with additional features)

DGAP-News: TubeSolar AG / Key word(s): Financing/Product Launch
16.09.2020 / 17:41
The issuer is solely responsible for the content of this announcement.


Company news

TubeSolar AG: Free State of Bavaria supports innovative agro-photovoltaic solution with a 10.8 million euro amount - Bavarian Minister of Economic Affairs Hubert Aiwanger personally hands over notice of funding in Augsburg

- Non-repayable grants from Bavarian Energy Research Programme awarded

- Further expansion of production at Augsburg site planned

- Patented tube technology enables dual use of agricultural land

Augsburg, September 16, 2020 - TubeSolar AG (ISIN DE000A2PXQD4, Dusseldorf Stock Exchange), an innovative manufacturer of robust thin-film tubes for solar energy generation with a focus on applications in agriculture (agro-photovoltaics), today received from the hands of the Bavarian Minister of Economic Affairs Hubert Aiwanger the notification from the Bavarian Ministry of Economic Affairs for funding of 10.827 million euro from the Bavarian Energy Research Programme. These are non-repayable grants. The funding will be provided over a period of three years.

The promised subsidies are intended to support the further expansion of the Augsburg production site of TubeSolar AG.

Founded in 2019, the company was a spin-off company that took over the laboratory production and patents of OSRAM/LEDVANCE in Augsburg and has been growing steadily ever since. TubeSolar AG now employs 37 full-time staff, most of them highly experienced specialists from the former OSRAM/LEDVANCE site. In the medium term, a total of 120 million euros is to be invested in setting up a 250 MW production and the workforce is to be expanded to 250 employees. The high level of automation will secure the Augsburg site in the long term.

Hubert Aiwanger, Minister of Economic Affairs of the Free State of Bavaria supports the project: "I am delighted that here in Augsburg new standards are being set in the field of photovoltaics with the innovative concept of TubeSolar AG and that the future of photovoltaics is being actively shaped. Thanks to the innovative tubular modules from TubeSolar AG, the motto in future will no longer be "either or" but rather "both and": agriculture and energy production. And not only that: Due to the significantly lower weight, many previously unused roofs can be used for electricity production and the potential of roof-mounted PV can be exploited much better. Therefore the Free State of Bavaria is very happy to support this project with a large grant".

Reiner Egner, Member of the Management Board of TubeSolar AG: "It makes us proud that the Bavarian Minister of Economic Affairs, Mr. Hubert Aiwanger, personally presented us with the funding notice today. Our patented technology allows agricultural land to be used twice: as arable land for agricultural products and, with elevations adapted to the respective needs in terms of height, also as a supplier of electricity from solar energy. We are thus offering a smart solution for the increasingly scarce land areas".

Jürgen Gallina, Member of the Management Board of TubeSolar AG, adds: "With the binding approval of the subsidies, we can start ordering the new production equipment. We want to set up a highly automated production line as soon as possible. We have been preparing this step intensively for months. This will enable us to expand our production capacities considerably".

The stable and lightweight TubeSolar modules are approx. 2 metres long and approx. 1 metre wide and each contains 40 tubes. Due to the water and wind permeability of the TubeSolar modules, electricity can be harvested and the area underneath remains usable for agriculture.

In addition to the recently published cooperation with the world-renowned engineering office schlaich bergermann partner - sbp sonne, the funding commitment of the Bavarian Ministry of Economic Affairs marks another milestone on the way to becoming a global agro-photovoltaics provider.

About TubeSolar AG
As a spin-off , TubeSolar AG has taken over the laboratory production including patents from OSRAM/LEDVANCE in Augsburg and has been using this patented technology since 2019 to manufacture photovoltaic thin-film tubes that are assembled into modules. These have considerable advantages over silicon solar modules in terms of weight, geometry, material usage, yield, long-term stability and recycling. The technology is to be used primarily in the agricultural sector and will span agricultural production areas. Over the next few years, it is planned to expand production in Augsburg to an annual production capacity of 250 MW.

About the Bavarian Energy Research Programme
The Bavarian Energy Research Programme supports the research, development and application (demonstration) of highly innovative energy and energy saving technologies with the aim of increasing the use of renewable energies, reducing energy-related CO2 emissions, increasing security of energy supply and improving energy efficiency. Funding will be provided for individual projects involving a considerable technical and economic risk.

Investor Relations contact:
Maximilian Fischer, mailto:
max Equity Marketing GmbH, Marienplatz 2, 80331 Munich, Germany, Tel.: +49 89 13928890

Important notice
This announcement and the information contained herein does not constitute an offer or an invitation to purchase or subscribe for securities in the United States of America, Canada, Australia, Japan or in any other jurisdiction in which such an offer may be restricted. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with the securities regulatory authorities of any state of the United States. The securities may not be offered, sold or delivered, directly or indirectly, in the United States except pursuant to an exemption from the registration and reporting requirements of the United States securities laws and in compliance with all other applicable United States laws. The Company does not intend to register its shares under the Securities Act or to conduct a public offering of securities in the United States.

This communication does not constitute an offer document or an offer of securities to the public in the United Kingdom to which Section 85 of the U.K. Securities Exchange Act applies. Financial Services and Markets Act 2000 and should not be construed as a recommendation to any person to subscribe for or purchase any securities in the offer. This document is only being distributed to (i) persons who are outside the United Kingdom; (ii) persons who have professional experience in matters relating to investments within the meaning of section 19(5) of the U.K. Financial Services and Markets Act 2000; and (iii) persons who have professional experience in matters relating to investments within the meaning of section 19(5) of the U.K. Financial Services and Markets Act 2000. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, unincorporated associations and other entities falling within Article 49 (2) (a) to (d) of the Order (all such persons are referred to herein as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents . Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This release may containforward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of the Company. Forward-looking statements are not guarantees of future results and developments and involve known and unknown risks and uncertainties. The actual future results and developments concerning the company may therefore differ substantially from the expectations and assumptions expressed here due to various factors. These factors include, in particular, changes in the general economic situation and the competitive situation, risks arising from developments in the financial markets, exchange rate fluctuations and changes in national and international laws and regulations, particularly with regard to tax laws and regulations, as well as other factors. The company assumes no obligation to update the statements contained in this release.

Additional features:

Subtitle: Wirtschaftsminister Aiwanger überreicht Förderbescheid an TubeSolar Vorstände

16.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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