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2015-04-08

Savo-Solar Oy: Savo-Solar signs contract with Li-Mithra from France

Savo-Solar Ltd.

Company Release 8 April 2015 at 8:00 am (CET)

Savo-Solar signs contract with Li-Mithra from France

Savo-Solar Ltd. and Li-Mithra Engineering have signed a contract, according to
which the absorbers manufactured by Savo-Solar will be used in Li-Mithra's
PVT heating system. The patented heat pump system of Li-Mithra utilises solar
panels, which produce both electricity and heat, and in future all absorbers
for these are delivered by Savo-Solar.

The system of Li-Mithra is today under test all over the world and Savo-Solar
has already supplied them with approximately 300 absorbers. If the estimated
delivery volumes of the contract are realised, the contract would bring for
Savo-Solar a total revenue of approximately EUR 2.5 million during 2015-2017.
Furthermore, Savo-Solar has the right to sell Li-Mithra's large systems in
Finland, Denmark and in Japan.

Jari Varjotie, CEO of Savo-Solar: "The contract with Li-Mithra is one step
further in the business growth of Savo-Solar. Li-Mithra has developed an
advanced heating system, which enables economical energy production from
solar and air for heating and cooling also in cold weather conditions. There
is strong demand for the system especially in regions with clear seasons and
need for heating for longer periods."

SAVO-SOLAR LTD

For more information:

Savo-Solar Ltd

Managing Director Jari Varjotie

Phone: +358 400 419 734

E-mail: jari.varjotie@savosolar.fi

Ingrid Östhols, communication
Phone: +46 721 810 867
E-mail: ingrid.osthols@savosolar.se

Certified Advisor:
Mangold Fondkommission AB
Phone: +46 (0) 8 5030 1550
E-mail: info@mangold.se

Savo-Solar in brief
Savo-Solar provides solar thermal systems for heating of buildings, industrial
processes and domestic hot water. Savo-Solar's systems are based on the
verified world's most efficient 2 m2collector utilizing MPE-absorbers with
several patents pending. The absorbers are coated with a highly selective
optical nano-coating. Savo-Solar is, according to the available information,
the only company able to coat ready-made, complete absorbers. Focus is on
large scale industrial applications such as district heating, industrial
process heating and
energy renovations of large buildings. Since 2011 the company has sold and
delivered its products in over 17 countries on four continents.
www.savosolar.fi.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Savo-Solar Oy via Globenewswire

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