TubeSolar AG: Free State of Bavaria supports innovative agro-photovoltaic solution with a double-digit million euro amount - non-repayable grants from Bavarian Energy Research Programme awarded - Further expansion of production at Augsburg sit
- Non-repayable grants from Bavarian Energy Research Programme awarded
- Further expansion of production at Augsburg site planned
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 notification from the Bavarian Ministry of Economic Affairs of a grant in the lower double-digit million euro range from the Bavarian Energy Research Programme. These are non-repayable grants. The funding is provided over a period of three years.
Notifying party: Reiner Egner, Member of the Management Board at TubeSolar AG, Berliner Allee 65, 86153 Augsburg, Germany
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.
Service website: www.tubesolar.de Investor Relations contact: Maximilian Fischer, mailto: firstname.lastname@example.org 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.
16-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: TubeSolar AG Berliner Allee 65 86153 Augsburg
Germany Phone: +49 821 899 830 50 E-mail: email@example.com Internet: www.tubesolar.de ISIN: DE000A2PXQD4 WKN: A2PXQD Listed: Regulated Unofficial Market in Dusseldorf EQS News ID: 1132237 ? End of Announcement DGAP News Service