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ET | Source: Consolidated Edison Company Of NY

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Con Edison
Con Edison

A Con Edison electrical worker at a cable replacement job on the Upper West Side of Manhattan.

Consolidated Edison Company Of NY

Con Edison
Con Edison

Con Edison crew members working on overhead lines in Westchester County.

Consolidated Edison Company Of NY

Energy Efficiency Programs Help Customers Save Money

NEW YORK, May 24, 2018 (GLOBE NEWSWIRE) -- Con Edison is investing in its electric delivery systems, using new technologies, and working with customers to help them use less energy, as another hot New York summer approaches.

The energy company has invested $1.5 billion in its overhead and underground systems in New York City and Westchester County to prepare for this summer.

As an example of how the company is using new and evolving technologies, Con Edison is installing a 12-megawatt hour battery system on company-owned land in Ozone Park, Queens. The company will charge the batteries when demand for power is low and then discharge that power at peak times, taking pressure off the grid.

The batteries can discharge one megawatt for 12 hours or two megawatts for six hours. A megawatt is enough to power up to 1,000 homes in that area.

The storage project is part of the Brooklyn-Queens Neighborhood Program, in which Con Edison works with customers in certain fast-growing areas to help them reduce their usage.

“By making significant investments in our electric delivery systems and deploying new technologies, we provide the reliable service that our customers count on during sweltering summer days,” said Tim Cawley, president of Con Edison. “We’re also making it easier for our customers to choose energy efficiency, solar and other products and services that can help reduce monthly bills and provide a cleaner environment.”

The investment in upgrades and reinforcements includes 18 network transformers and 74 overhead transformers. The company also is replacing or upgrading 37 underground feeder sections and 136 overhead spans.

Con Edison projects that peak demand for electricity will reach 13,300 megawatts. The record is 13,322 megawatts, which occurred at 5 p.m. on July 19, 2013.

The company is always exploring new ways to keep service reliable. Con Edison has installed 1,000 devices in manholes to detect heat and gas in underground structures. By detecting that buildup, the company can make a repair before a cable fails.

Con Edison also takes infrared images of underground cables to look for hot spots that might indicate a repair is needed.

Bill Forecasts, Energy Efficiency, Solar and the Environment

Monthly bills for residential customers in the June-to-September period are expected to be higher than the same period last year, mainly due to higher supply charges, which the company does not control. A smaller portion of the increase is due to higher delivery charges.

A typical New York City residential customer using 350 kilowatt hours per month can expect an 8.4-percent increase from $96.89 in 2017 to $105.02 this year. A typical Westchester residential customer using 500 kilowatt hours per month can expect an average increase of 4.5 percent from $128.24 in 2017 to $133.98.

Monthly bills for business customers are expected to decrease slightly. A New York City business customer using 10,800 kilowatt hours and having a peak demand of 31 kilowatts, can expect average monthly summer bills to decrease from $2,283 in 2017 to $2,274 this year.

Supply charges have been relatively low the past three years but are projected in 2018 to return to about the same levels as 2014. Con Edison projects that summer bills will be slightly lower than four years ago.

Customers can save money by using less energy. Con Edison offers customers incentives to make money-saving upgrades to their homes and businesses. For this summer, Con Edison is offering residential customers:

  • A $30 rebate for buying a new Energy Star room air conditioner;
  • Up to $25 or more in rewards for enrolling a standard window air conditioner in the company’s smart AC program;
  • Up to $95 in rebates and rewards for a Wi-Fi-enabled air conditioner. The company will provide a free Wi-Fi device that lets a customer control a room air conditioner with an app.
  • A $50 rebate for buying a smart thermostat and another $85 for registering it with Con Edison.

Since 2009, Con Edison’s energy efficiency programs have helped more than 600,000 customers make upgrades that prevent 1.4 million tons of carbon emissions, the equivalent of taking nearly 300,000 cars off the road. The electric upgrades save nearly 1.8 million megawatt hours of usage.

The company also encourages customers to consider whether solar energy is right for them. Customers have completed 19,000 projects that produce 188.7 megawatts of clean, renewable power. That is equal to 254,158 megawatt hours a year, enough to prevent 189,000 tons of carbon emissions, or the equivalent of taking more than 40,000 cars off the road.

The customers who have chosen energy efficiency and solar help Con Edison keep service reliable by lowering the amount of power flowing on the grid at peak times.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $49 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York.

CONNECT WITH US:

Facebook: https://www.facebook.com/ConEdison
Twitter: https://twitter.com/conedison
YouTube: http://www.youtube.com/conedisonny
  

Contact: Media Relations
212-460-4111
  

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/240ac881-df83-4102-8559-168524bfd7b2

http://www.globenewswire.com/NewsRoom/AttachmentNg/e5655d9e-33ce-4144-842c-fd4a5e76b298

Read more: Con Edison’s $1.5B Investment and Technology Get...

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ET | Source: Savosolar Plc

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Savosolar Plc                                                     
Company Announcement                            21 May 2018 at 9:00 (CEST)

Notice to the Extraordinary General Meeting of Savosolar Plc.

Notice is given to the shareholders of Savosolar Plc. to the Extraordinary General Meeting to be held on Tuesday, 12 June 2018 at 9:30 (EET) at Sitra meeting room "Edison" at the address Itämerenkatu 11-13, 00180 Helsinki, Finland. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 9:00 (EET).

A. Matters on the agenda of the General Meeting

At the General Meeting, the following matters will be considered:

1. Opening of the meeting

2. Calling the meeting to order

3. Election of persons to scrutinize the minutes and to supervise the counting of votes

4. Recording the legality of the meeting

5. Recording the attendance at the meeting and adoption of the list of votes

6. Authorizing the Board of Directors to decide on issuance of shares, options and other special rights

The Board of Directors proposes that the General Meeting authorizes the Board of Directors to decide, in one or more transactions, on the issuance of shares and the issuance of options and other special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act as follows:

The number of shares to be issued based on the authorization may in total amount to a maximum of  400,000,000 shares, representing approximately 305.93 per cent of the company's shares on the date of this notice.

The Board of Directors decides on all the terms and conditions of the issuances of shares and of options and other special rights entitling to shares. The issuance of shares and of options and other special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue), if there is a weighty financial reason for the company.

Shares may be conveyed either against payment or free of charge in the company's share issues. A directed share issue may be a share issue without payment only if there is an especially weighty reason for the same both for the company and in regard to the interests of all shareholders in the company.

The authorization replaces the authorization granted by the Annual General Meeting on 27 March 2018 to the Board of Directors to resolve on the issuance of shares and the issuance of options and other special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act. The authorization shall be valid until 11 June 2023.

7. Closing of the meeting

B. Documents of the General Meeting

The proposals relating to the agenda of the General Meeting as well as this notice are available on Savosolar Plc.'s website at www.savosolar.com. The documents mentioned above are also available at the meeting and copies of them will be sent to shareholders upon request. Minutes of the General Meeting are available on the above-mentioned website as from 26 June 2018 at the latest.

C. Instructions for the participants

1. Shareholder registered in the shareholders' register
Each shareholder who is registered on Thursday, 31 May 2018 in the shareholders' register of the company held by Euroclear Finland Ltd., has the right to participate in the General Meeting. A shareholder, whose shares are registered on his/her/its personal Finnish book-entry account, is registered in the shareholders' register of the company.

A shareholder, who wants to participate in the General Meeting, shall register for the meeting no later than 7 June 2018 at 4.00 p.m., by which time the registration shall be received. The registration may take place:

  1. at Savosolar Plc.'s website at www.savosolar.com;
  2. by e-mail to address This email address is being protected from spambots. You need JavaScript enabled to view it.;
  3. by phone to number +358 10 271 0810 (Mon-Fri at 10 a.m. to 4 p.m.) or
  4. by mail to Savosolar Plc., General Meeting, Insinöörinkatu 7, 50150 Mikkeli, Finland.

In connection with the registration a shareholder shall notify his/her/its name, personal identification number, address, phone number, email address and the name of a possible assistant or proxy representative and the personal identification number of a proxy representative. The personal data given to Savosolar Plc. is used only in connection with the General Meeting and the processing of related necessary registrations and for shareholder communication. Shareholder, his/her/its representative or proxy representative shall, when necessary, be able to prove his/her/its identity and/or right of representation.

2. Nominee-registered shares
A holder of nominee-registered shares has the right to participate in the General Meeting by virtue of shares based on which he/she/it on the record date of the meeting, i.e. on 31 May 2018, would be entitled to be registered in the shareholders' register of the company held by Euroclear Finland Ltd. The right to participate in the General Meeting requires, in addition, that the shareholder has on the basis of such shares been registered into the temporary shareholders' register of the company held by Euroclear Finland Ltd. at the latest on 7 June 2018 by 10.00 a.m. (EET). As regards nominee- registered shares this constitutes a due registration for the General Meeting.

A holder of nominee-registered shares is advised without delay to request necessary instructions regarding the registration in the temporary shareholder's register of the company, the issuing of proxy documents and registration for the General Meeting from his/her/its custodian bank. The account management organization of the custodian bank has to register a holder of nominee-registered shares, who wants to participate in the General Meeting, into the temporary shareholders' register of the company at the latest on the date and time mentioned above.

3. Shares registered at Euroclear Sweden AB
Shareholder whose shares are registered in the securities system of Euroclear Sweden AB and who wants to participate in the General Meeting and use his/her/its voting right, shall be registered at the shareholder's register held by Euroclear Sweden AB on 31 May 2018 at the latest.

In order to be entitled to request for temporary registration in the shareholder's register of Savosolar Plc. held by Euroclear Finland Ltd., a shareholder of nominee-registered shares shall request that his/her/its shares are temporarily registered under his/her/its own name in the shareholder's register held by Euroclear Sweden AB and to ensure that the custodian bank will send the above-mentioned request for temporary registration to Euroclear Sweden AB. The registration shall be made on 31 May 2018 at the latest, and therefore a shareholder shall give the request to his/her/its custodian bank in good time prior to the above date.

Shareholder, whose shares are registered in the securities system of Euroclear Sweden AB and who intends to participate in the General Meeting and use his/her/its voting right, shall request for a temporary registration of his/her shares to the shareholder's register of Savosolar Plc. held by Euroclear Finland Oy. The request to Savosolar Plc. shall be made in written at the latest on 1 June 2018 at 10.00 a.m. Swedish time (CET). The temporary registration through Savosolar Plc. constitutes a due registration to the General Meeting.

4. Proxy representative and powers of attorney
A shareholder may participate in the General Meeting and exercise his/her/its rights at the meeting by way of proxy representation.

A proxy representative shall produce a dated proxy document or otherwise provide reliable evidence of the right to represent the shareholder. The authorization applies to one meeting, unless otherwise stated. When a shareholder participates in the General Meeting by means of several proxy representatives representing the shareholder with shares at different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

Possible proxy documents should be delivered to in originals to Savosolar Plc., General Meeting, Insinöörinkatu 7, 50150 Mikkeli, Finland before the end of the registration period.

5. Other instructions and information
Pursuant to Chapter 5 Section 25 of the Finnish Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be handled at the meeting.

The language of the meeting is Finnish.

On the date of the notice to the General Meeting, 21 May 2018, the total number of shares in Savosolar Plc. is 130,749,064. Each share carries one vote at General Meeting.

In Helsinki, 21 May 2018

SAVOSOLAR PLC
Board of Directors

For more information:

Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 21 May 2018 at 9:00 (CEST).

Savosolar in brief
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, tel. +46 8 505 65 172.

Read more: Notice to the Extraordinary General Meeting of...

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ET | Source: RGS Energy

DENVER, May 14, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the exclusive worldwide licensee of POWERHOUSE™, an innovative and visually stunning solar shingle system using technology developed by The Dow Chemical Company, expanded its May 11, 2018 press release to include a backlog rollforward and reconciliation of pro forma stockholders’ equity. RGS also corrected errors in the financial summary.

Financial Summary:

($000’s omitted)   1st Quarter
2018
(reported)
  Pro Forma
Adjustments
(Unaudited)
Pro Forma
as if April 9, 2018
Capital Raise closed
on March 31, 2018

(Unaudited)
  1st Quarter
2017

(reported)
 
Pro Forma Cash $303   $4,371 $4,674 $14,077  
Convertible Debt, net*   1     1,280   1,281   1  
Pro Forma shareholders’ equity   3,352     3,091   6,443   17,886  
Working capital   807     3,091   3,898   15,857  
Operating cash outflow   (2,459 )       (4,152 )
Net loss   (4,338 )       (4,034 )

*Preliminary estimated value of convertible notes, net of transaction costs and debt discount for common stock warrants issued.


Backlog Rollforward:

($000’s omitted)   1st Quarter 2018
(reported)
    1st Quarter 2017
(reported)
 
Backlog at December 31st   $12,765     $9,375  
Bookings from new awards (“Sales”)   7,488     3,035  
Cancellations and reductions on existing contracts   (3,859 )   (1,646 )
Net Sales   3,629     1,389  
Amounts recognized in revenue upon installation   (2,507 )   (3,372 )
Backlog at March 31st   $13,887     $7,392  


Corrections to May 11, 2018 Financial Summary:

($000’s omitted) May 14, 2018
Corrected
May 11,2018
Press Release
Net Sales $3,629 $4,243
Pro Forma Convertible Debt, net   1,281   2,000

Management Commentary

“We expect 2018 to be a truly transformative year for RGS,” said Dennis Lacey, CEO of RGS Energy. “We turned our focus on the tremendous market opportunity with POWERHOUSE™.  This opportunity gained a huge boost last week with the new California solar mandate for new residential construction. There are also significant competitive barriers to entry with in-roof solar shingles, and we believe we have the most economical and aesthetically pleasing solution.”

“Even before the California mandate, we already believed there would be great demand for this product, and we have been busily introducing POWERHOUSE™ to local roofers. In fact, we’ve already received written reservations for first deliveries. These reservations currently exceed an estimated $19 million in potential revenue, and we expect much more in the coming months. So, as we start POWERHOUSE™ production and sales we expect our quarterly operating income to turn positive in 2019.”

Conference Call
RGS Energy will hold a conference call to discuss its first quarter 2018 financial results.

Date: Monday, May 14, 2018
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-800-289-0438
International dial-in number: 1-323-794-2423
Conference ID: 6375171
Webcast: http://public.viavid.com/index.php?id=129765

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through May 21, 2018.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 6375171

About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities. 

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Forward-Looking Statements and Cautionary Statements
The preliminary estimated value of the convertible notes discussed above is subject to the completion by a a valuation by a third party expert. Therefore, the actual value may differ materially from the estimated value and the preliminary estimated value of the convertible notes is subject to change.

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “believe,” “plan,” “expect,” “future,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated; competition in the built-in photovoltaic solar system business; RGS Energy’s ability to realize revenue from written reservations for initial POWERHOUSE™ deliveries; RGS Energy’s ability to obtain future written reservations for POWERHOUSE™ deliveries; RGS Energy’s ability to realize revenue from sales of Powerhouse arising from the California Energy Commissions’ mandate for solar systems with new home building commencing in 2020; rules, regulations and policies pertaining to electricity pricing and technical interconnection of customer-owned electricity generation such as net energy metering; the continuation and level of government subsidies and incentives for solar energy; the continuation and level of utility and state incentives for solar energy; changes in general economic, business and political conditions, including tariffs on imported solar cells and changes in the financial markets; and RGS Energy’s ability to successfully implement its revenue growth strategy, achieve its target level of sales, generate cash flow from operations, and achieve break-even and better results.

You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q, for 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties.  Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it. 

Read more: UPDATE - RGS Energy Corrects and Expands First...

Abstract

Globally, up to 1.4 million people are moving into urban areas per week, and estimates indicate that nearly 1 billion new dwelling units will be built by 2050 to support this growing population. The way we build our cities today directly impacts the safety... See More + Globally, up to 1.4 million people are moving into urban areas per week, and estimates indicate that nearly 1 billion new dwelling units will be built by 2050 to support this growing population. The way we build our cities today directly impacts the safety of future generations. Building code and regulation have proven to be cost-effective tools to promote healthy, safe sand resilient cities. Japan’s effective use of building regulations to reduce risk is a compelling success story and provides a number of relevant lessons for low- and middle-income countries. Japan has proven that effective disaster risk reduction is possible, even in the face of highly destructive disasters. Among other measures, its building regulations have played a crucial role.  See Less -

Read more: Building regulation for resilience...

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ET | Source: Savosolar Plc

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Savosolar Plc
Company Announcement            21 May 2018 at 9:00 (CEST)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART, DIRECTLY OR INDIRECTLY, IN THE USA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

Savosolar announces its plan to arrange a rights issue of approximately EUR 3.5 million and discloses financial information for the period 1 January - 31 March 2018

The Board of Directors of Savosolar Plc ("Savosolar" or the "Company") has decided to arrange a partially underwritten rights issue totalling approximately EUR 3.5 million (the "Offering") with additional warrants enabling the Company to raise up to a maximum of approximately EUR 3.3 million (the "Warrants"), under the condition that the Extraordinary General Meeting to be summoned today gives authorization to the Board of Directors to resolve on the Offering and the issuance of Warrants. The Offering is expected to consist of a maximum of 174,332,085 new shares (the "Offer Shares"). The Offer Shares would constitute approximately up to 57.1 per cent of all shares in the Company should the Offering be fully subscribed. New information regarding financials of the Company for the period 1 January - 31 March 2018 has also been released.

Summary of the Offering

  • The Company sees that the market has finally become active again, signing its first large order outside Denmark and winning its largest tender to date in Denmark. However, due to the temporary downturn in the market, the Company is in need of working capital.
  • In the Offering, Savosolar is planning to give all its shareholders registered in Savosolar's shareholder register maintained by Euroclear Finland Ltd ("Euroclear Finland") or Euroclear Sweden AB ("Euroclear Sweden") one (1) book-entry subscription right (the "Subscription Right") for every one (1) share held on the Offering record date. Three (3) Subscription Rights entitle the holder to subscribe for four (4) Offer Shares.
  • The subscription price is expected to be EUR 0.02 per Offer Share. The subscription price includes a discount of approximately 66.1 per cent compared to the current share price.
  • The record date for the Offering is planned to be 18 June 2018 with the last day of trading including the Subscription Rights on 14 June 2018 and the first day of trading excluding the Subscription Rights on 15 June 2018.
  • The subscription period for the Offer Shares (the "Subscription Period") is expected to commence on 21 June 2018 at 09:30 Finnish time (08:30 Swedish time), and it is expected to end on 10 July 2018 at 16:30 Finnish time (15:30 Swedish time) in Finland and on 6 July 2018 in Sweden at 16:30 Finnish time (15:30 Swedish time).
  • Augment Partners AB ("Augment Partners") has received a mandate to acquire professional investors for the Company during the Subscription Period of the Offering, so that the investments received through them is a maximum of approximately EUR 0.9 million (the "Directed Issue"). Investors who are procured by Augment Partners will primarily take part in the Offering, and additionally a separate directed issue to them can be arranged with the same Subscription Price, if the Offering is fully subscribed. The number of shares to be issued in the possible Directed Issue would amount to maximum of 43,583,021 shares, i.e. approximately 12.5 per cent of the total amount of shares in the Company after the Offering and the possible Directed Issue, assuming that the Offering and the possible Directed Issue are both fully subscribed. The Board of Directors shall decide on the possible Directed Issue approximately on 13 July 2018, while resolving on approval of the subscriptions received in the Offering.
  • In addition, Savosolar is planning to offer each subscriber of the Offer Shares one (1) warrant (the "Warrant") free of charge for every two (2) Offer Shares subscribed and paid for in the Offering, the subscription of which the Board of Directors has approved. Savosolar is planning to make a similar offer also to investors who will participate in the possible Directed Issue. Each Warrant would entitle its holder to subscribe for one (1) new share in the Company during the time period between 26 November 2018 - 10 December 2018. The subscription price for the shares subscribed based on the Warrants will be defined based on volume weighted average price of the Company's shares in First North Finland during the time period between 12 November 2018 - 23 November 2018 with a discount of 25 per cent. However, the subscription price shall not be less than EUR 0.02 per share nor higher than EUR 0.03 per share. The maximum number of Warrants would be 87,166,043 if the Offering is fully subscribed, and 108,957,553 if both the Offering and Directed Issue are fully subscribed.
  • Approximately EUR 3.5 million before the transaction costs is expected to be raised in the Offering if the Offering is fully subscribed and additionally approximately EUR 0.9 million before the transaction costs in the Directed Issue if the Directed Issue is arranged and fully subscribed. A maximum of approximately EUR 3.3 million will be raised through the Warrants if the maximum number of Warrants is issued and if all the Warrants are used for subscription of new shares at the maximum subscription price of EUR 0.03 per share.
  • The Offering is secured to 80 per cent by current shareholders and external underwriters. The external underwriters are entitled to receive their underwriting compensation either in cash or in new shares of the Company by setting off the underwriting compensation against the subscription price of the new shares in a directed share issue to be conducted after the Offering, if necessary.

Reasons for the Offering and use of proceeds

Until recently, Denmark was the only active market in the segment for large solar collector fields and systems. Even though market analysts predicted that new markets both in Europe and elsewhere would be activating earlier, it was not until 2017 that Savosolar started seeing real activity in other markets. With Savosolar's award-winning products and due to the intensified sales actions in the past 18 months, the Company has been invited to almost all notable tenders in Europe, signing its first large-scale order outside Denmark and winning its largest tender ever during the spring 2018. The order, with a collector area exceeding 4,000 m2 to newHeat SAS will be the largest solar thermal field ever built in France and first in the world installed on a one-axis tracking system. The tender won by the Company in Denmark, with a total collector area of approximately 20,000 m2 to Grenaa Varmevaerk, is worth approximately EUR 3.0 million  and would be the Company's largest order to date.

This means, that after many years of proving its technology to the market and signing orders on the competitive Danish market, Savosolar has finally been able to take a leap forward towards its vision of becoming the global first-choice supplier to high performance solar installations. While delivering to large collector fields in Europe as well as with strong partnerships around the world, e.g. in China, Latin America, Australia and Africa, the Company believes it is ready to take on the global market.

Due to the temporary downturn because of the Danish government's delayed decisions of the terms concerning renewable energies and longer-than-expected processing times in other markets since the end of 2016, the Company is in need for more working capital.

The Company aims to raise approximately EUR 3.5 million through the Offering and may raise additionally approximately EUR 0.9 million through the Directed Issue if the Directed Issue is arranged and fully subscribed. The Warrants would enable the Company to raise additionally up to approximately EUR 3.3 million if the maximum number of Warrants is issued and if all the Warrants are used for subscription of new shares at the maximum subscription price of EUR 0.03 per share.

The proceeds from the Offering will be used for working capital so that the Company can deliver signed and upcoming orders in 2018-2019 and continue to streamline Savosolar's operations to match profitability targets and the increasing demand globally.

Financial information that has not been published before (unaudited)

INCOME STATEMENT

EUR thousand 1 January 2018 - 31 March 2018
  FAS (unaudited)
Revenue 253.4
Other operating income 12.4
   
Materials and services  
Material, supplies and goods  
Purchases -267.0
Inventory increase / decrease 244.8
External services -181.5
Total materials and services -203.8
   
Personnel costs  
Wages and salaries -456.6
Social security costs -45.0
Pension costs  
Other personnel expenses  
Total personnel costs -501.5
   
Depreciation, amortisation and write-downs -168.1
   
Other operating expenses -586.0
   
OPERATING PROFIT (LOSS) -1,193.6
   
Financial income and expenses  
Interest and other financial income  
Interest and other financial expenses  
Total financial income and expenses -27.1
   
   
NET PROFIT (LOSS) -1,220.7

BALANCE SHEET

ASSETS

EUR thousand 31 March 2018
  FAS (unaudited)
FIXED ASSETS  
Intangible assets  
Development costs 1,028.7
Intangible rights 154.5
Other long-term expenses 347.2
Total intangible assets 1,530.4
   
Property, plant and equipment  
Machinery and equipment 1,059.7
Total tangible assets 1,059.7
   
Investments  
Shares in group companies 161.9
   
TOTAL FIXED ASSETS 2,751.9
   
CURRENT ASSETS  
Inventories  
Materials and supplies 613.7
Unfinished products 22.2
Finished goods 604.7
Advance payments 13.9
Total inventories 1,254.5
   
Long-term receivables  
Other receivables 221.9
Total long-term receivables 221.9
   
Short-term receivables  
Accounts receivable 171.8
Other receivables 63.4
Prepayments and accrued income 32.6
Total current receivables 267.8
   
Total receivables 489.8
   
Cash and cash equivalents 891.1
   
TOTAL CURRENT ASSETS 2,635.3
   
TOTAL ASSETS 5,387.2

EQUITY AND LIABILITIES

EUR thousand 31 March 2018
  FAS (unaudited)
   
Share capital 470.2
Unrestricted equity fund 24,919.1
Retained earnings -21,735.5
Net profit (loss) -1,220.7
TOTAL SHAREHOLDER'S EQUITY 2,433.1
   
APPROPRIATIONS 120.0
PROVISIONS 171.9
   
Long-term liabilities  
Capital loans 0.0
Loans from financial institutions 382.0
Other liabilities 0.0
Total long-term liabilities 382.0
   
Short-term liabilities  
Capital loans 1,431.3
Loans from financial institutions 200.9
Advance payments 228.7
Trade payables 67.0
Other liabilities 35.8
Accrued liabilities 316.6
Total short-term liabilities 2,280.2
   
TOTAL LIABILITIES 2,662.2
   
TOTAL EQUITY AND LIABILITIES 5,387.2

The Offering

The size of the contemplated Offering will be approximately EUR 3.5 million. The Offering has been secured to 80 per cent.

The Board of Directors of the Company is planning to offer up to 174,332,085 new shares in the Company for subscription in accordance with the shareholders' preferential subscription right, under the condition that the Extraordinary General Meeting to be summoned today gives authorization to the Board of Directors to resolve on the Offering and the issuance of Warrants. All shareholders registered in Savosolar's shareholder register maintained by Euroclear Finland or Euroclear Sweden are planned to be given one (1) book-entry Subscription Right for every one (1) share held in the Company on the Offering record date, which is approximately 18 June 2018. Each three (3) Subscription Rights would entitle their holder to subscribe for four (4) Offer Shares. The Subscription Rights are planned to be registered in the shareholders' book-entry accounts in the book-entry system maintained by Euroclear Finland approximately on 19 June 2018 and in the book-entry system maintained by Euroclear Sweden approximately on 20 June 2018. The Subscription Rights are planned to be freely assigned and they are expected to be traded on First North Finland and First North Sweden between 21 June and 4 July 2018.

After the subscription, temporary shares corresponding to the Offer Shares subscribed for based on the Subscription Rights (the "Temporary Shares") will be entered into the subscriber's book-entry account. The Offer Shares will be entered into the subscriber's book-entry account once they have been entered into the Trade Register, approximately during week 30, 2018. Trading in the Temporary Shares is planned to commence on First North Finland and on First North Sweden as their own special share class approximately on 21 June 2018. The Temporary Shares will be combined with the Company's current shares after the Offer Shares have been registered into the Trade Register. The combination is planned to take place approximately during week 30, 2018 and the Offer Shares are planned to be subject to trading together with the Company's existing shares on First North Finland approximately during week 30, 2018 and on First North Sweden approximately during week 31, 2018.

Planned timetable for the Offering       

14 June 2018 Resolution regarding the Offering by the Board of Directors
14 June 2018 The prospectus is published
14 June 2018 Last day of trading including the Subscription Rights
15 June 2018 First day of trading excluding the Subscription Rights
18 June 2018 Record date for the Offering
21 June - 4 July 2018

21 June 2018

Trading period for the Subscription Rights

Trading starts in Intermediary Shares (BTA)

21 June - 6 July 2018 The Subscription Period for the Offering in Sweden
21 - 10 July 2018 The Subscription Period for the Offering in Finland
13 July 2018 Announcement of outcome of the Offering
Week 30, 2018 Last day of trading in the Temporary Shares on First North Finland
Week 30, 2018 Last day of trading in the Temporary Shares on First North Sweden

Advisers

Augment Partners is acting as financial advisor to the Company in the Offering. Smartius Oy is acting as the legal adviser to the Company on aspects of the Offering related to the Finnish law.

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 21 May 2018 at 9:00 a.m. (CEST).

Savosolar in brief

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, phone: +46 8-505 65 172.

IMPORTANT NOTICE

This release or the information contained therein shall not be distributed, directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or the United States. The information contained in this release do not constitute an offer of, or invitation to purchase any securities in any area, where offering, procurement of or selling such securities would be unlawful prior to registration or exemption from registration or any other approval required by the securities regulation in such area. This release is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations issued by virtue of it. Savosolar has not registered, and does not intend to register, any offering of securities in the United States. No actions have been taken to register the shares or the offering anywhere else than in Finland and Sweden.

The information contained herein shall not constitute an offer of, or invitation to purchase any securities in any jurisdiction. This release is not a prospectus and does not constitute any offer, invitation or investment advice to subscribe for or purchase securities. Investors should not subscribe for or purchase any securities or make any investment decisions referred to herein except on the basis of information contained in a prospectus issued by Savosolar.

Read more: Savosolar announces plan to arrange rights issue...

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ET | Source: RGS Energy

DENVER, May 11, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the exclusive worldwide licensee of POWERHOUSE™, an innovative and visually stunning solar shingle system using technology developed by The Dow Chemical Company, reported its results for the quarter ended March 31, 2018 and filed its quarterly report on Form 10-Q. RGS Energy encourages investors to read the filing for a complete report of its results for the quarter.

 
Financial Summary
 
($000’s omitted) Q1 2018
(reported*)
Q1 2017
(reported)
Operational Data:    
Net sales $4,243 $1,390
Total Revenue 2,822 3,663
Residential installation cycle time (days avg for quarter) 114 163
Backlog (at quarter end) 13,887 7,392
     
Financial Data:    
Pro Forma Cash** $4,700 $14,077
Convertible Debt** 2,000 1
Pro Forma shareholders’ equity** 6,400 17,886
Operating cash outflow (2,459) (4,152)
Net loss (4,338) (4,034)
Working capital** 3,900 15,857

*Execept where noted by an “**”
**The pro forma results present the company’s balance sheet as if the net proceeds of the $4.4 million raised on April 6, 2018 was completed on March 31, 2018.

Management Commentary

“We expect 2018 to be a truly transformative year for RGS,” said Dennis Lacey, CEO of RGS Energy. “We turned our focus on the tremendous market opportunity with POWERHOUSE™.  This opportunity gained a huge boost last week with the new California solar mandate for new residential construction. There are also significant competitive barriers to entry with in-roof solar shingles, and we believe we have the most economical and aesthetically pleasing solution. So, as we start production and sales in this market, we expect our quarterly operating income to turn positive in 2019.”

Conference Call
RGS Energy will hold a conference call to discuss its first quarter 2018 financial results.

Date: Monday, May 14, 2018
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-800-289-0438
International dial-in number: 1-323-794-2423
Conference ID: 6375171
Webcast: http://public.viavid.com/index.php?id=129765

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through May 21, 2018.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 6375171

About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities. 

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “plan,” “expect,” “future,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated;  competition in the built-in photovoltaic solar system business; rules, regulations and policies pertaining to electricity pricing and technical interconnection of customer-owned electricity generation such as net energy metering; the continuation and level of government subsidies and incentives for solar energy; the continuation and level of utility and state incentives for solar energy; and changes in general economic, business and political conditions, including tariffs on imported solar cells and changes in the financial markets.

You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q, for 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties.  Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: RGS Energy Reports First Quarter 2018 Results

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ET | Source: RGS Energy

DENVER, May 21, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the exclusive worldwide licensee of POWERHOUSE™, an innovative and visually stunning solar shingle system using technology developed by The Dow Chemical Company, has released its preliminary POWERHOUSE™ 3.0 pricing for homebuilders.

Many homebuilders already offer solar solutions at their communities, driven by homeowners’ demand for electricity savings and sustainable energy solutions. Further, California’s new solar mandate requires almost all new homes, condos and apartment buildings be equipped with solar power beginning in 2020. RGS expects this new mandate to drive even greater demand for POWERHOUSE™ 3.0 as homebuilders seek the most affordable option.

Homebuilders will have a few options. They can install a traditional rack & mount solar array on the new roof top, or opt for a solar shingle like POWERHOUSE™ or Tesla Solar Roof. However, RGS believes POWERHOUSE™ will be the most affordable solution for homebuilders, as costs are blended with general roof installation.

Preliminary Price Comparison of POWERHOUSE™ vs. Other Solar Roof Solutions

  Rack Mounted
Solar System +
Full Asphalt Roof

  Tesla
Solar Roof = Full
Roof

  POWERHOUSE™
Solar Shingle +
Asphalt Roof

Cost of asphalt roof, 2,776 sqft home1 $7,728     $0     $5,093  
Solar system size (watts) 6,000     6,000     6,000  
Cost of roof installation per watt $1.29     $0.00     $0.85  
Cost of solar system installation in watts                
Nationwide Average2 $3.73              
Tesla (full roof with solar)3       $8.14        
RGS POWERHOUSE™                
Equipment kit4             $2.80  
Installation labor5             $0.25  
Electrical BOS5             $0.25  
All in Cost to Homebuilders $5.02     $8.14     $4.15  
                 

       1.    National Association of Home Builders, “Cost of Constructing a Home,” posted December 1, 2017
       2.    energysage, “How Much Do Solar Panels Cost in the U.S. in 2018?”, posted April 22, 2018.
       3.    energysage, “Tesla solar roof cost vs. solar panels: worth the premium?”, posted April 22, 2018.
       4.    POWERHOUSE™ kit includes shingles, inverter, monitoring and non-electrical balance-of-system.
       5.    pickmysolar.com, “The Cost of Solar,” posted October 21, 2016.

“We believe that POWERHOUSE™ 3.0 offers the most compelling value proposition to homebuilders,” said Brad Bentzen, RGS’ Director of POWERHOUSE™. “POWERHOUSE™ will have the lowest cost, be easy to install and can be blended with the general construction. It will also be aesthetically pleasing, with panel efficiency in-line with the majority of traditional solar panels, and use technology developed by a trusted brand, the Dow Chemical Company.”

Follow the company’s progress towards the launch of POWERHOUSE™ 3.0 by visiting the PowerLines news section at www.RGSPOWERHOUSE.com.

Next Generation POWERHOUSE™ 3.0
By coupling roofing with an energy saving solar panel in a singular product, the POWERHOUSE™ Solar Shingle uniquely addresses the needs of residential homeowners that seek an affordable visually stunning solar option. POWERHOUSE™ is designed to work with asphalt roofs, which represent about 85 percent of U.S. homes. Currently, more than 1,000 homeowners are enjoying benefits of earlier generations of POWERHOUSE™.

RGS Energy believes POWERHOUSE™ addresses a large, untapped market, appealing to both single-family homeowners and new home builders. The forthcoming POWERHOUSE™ 3.0 is designed to maintain or improve upon earlier generation product features, while substantially reducing manufacturing costs. POWERHOUSE™ 3.0 will offer a more competitive value proposition, even after the recently imposed tariff on imported solar cells.

RGS Energy estimates if POWERHOUSE™ achieves a 1% share of the re-roof and new home build markets, the product could be propelled to the billion-dollar revenue mark.

About RGS Energy 

RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs traditional retrofit solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities. 

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s plans for the commercialization of the POWERHOUSE™ 3.0 Solar Shingle, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “forecast,” “project,” “expect,” “plan,” “future,” “believe,” “may,” “hypothetical,” “will,” “anticipate,” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: the actual pricing of and demand for POWERHOUSE™ 3.0; the impact a POWERHOUSE™ 3.0 roof will have on the marketability of a home or building; RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and its obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated; competition in the built-in photovoltaic solar system business; and changes in general economic, business and political conditions, including tariffs on imported solar cells and changes in the financial markets.

You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements or forward-looking hypothetical examples made by us in this press release speaks only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement or forward-looking hypothetical example, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact:
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: RGS Energy Believes New POWERHOUSE™ 3.0 Offers...

Abstract

World trade is increasingly ruled by preferential trade agreements (PTAs), but their precise nature remains relatively opaque. This paper assesses a central dimension of these agreements, the significance of tariff preferences, using a new data set on... See More + World trade is increasingly ruled by preferential trade agreements (PTAs), but their precise nature remains relatively opaque. This paper assesses a central dimension of these agreements, the significance of tariff preferences, using a new data set on preferential and non-preferential or Most Favored Nation (MFN) applied tariffs, constructed by the International Trade Center and the World Bank. The data set covers 5,203 products, 199 reporters, and 239 partners, representing approximately 97 percent of world imports in 2016. There are three main findings. First, PTAs have significantly widened the scope of tariff-free trade. Whereas 42 percent of the total value of trade traded free under MFN rates in 2016, PTAs have fully liberalized an additional 28 percent of global trade. Second, the extent of preferential liberalization varies significantly across countries and sectors. Around 70 percent of countries have reduced trade-weighted average preferential tariffs to less than 5 percent, but PTAs have not been able to eliminate the high levels of protection in some low-income countries and in agricultural products, textiles, and footwear. Third, while the average preferential margin for trade covered by PTAs is low because one-fifth of world trade under preferential agreements is already duty free, more than a quarter of world trade is subject to an average preference margin of 7.4 percent. Considering competition from preferential and non-preferential sources, however, only 5.2 percent of global exports benefited from a preferential advantage of over 5 percent and only 3.3 percent of global exports suffered from a preferential disadvantage higher than 5 percent. Furthermore, data for a subsample of importers reveal that not all eligible imports take advantage of preferences, because of impediments such as restrictive rules of origin, and therefore actual preference margins are generally lower than potential margins.  See Less -

Read more: How preferential is preferential trade

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ET | Source: Savosolar Plc

multilang-release

Savosolar Plc
Company Announcement            21 May 2018 at 9:00 (CEST)

Savosolar has agreed on a 12-month extension for the maturity date of capital loans with Finnvera Oyj and Suur-Savon Osuuspankki

Savosolar Plc has agreed on a 12-month extension for the maturity date of capital loans with its creditors Finnvera Oyj and Suur-Savon Osuuspankki. After the agreed extension, the capital loans in the total amount of EUR 1.431 million will mature on 31 December 2019 instead of 31 December 2018 which was the original maturity date of the loans.

"We are very happy to see our creditors support our growth plan in this promising market situation and we want to thank them for the trust they've shown in us this way," says Managing Director Jari Varjotie.

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 21 May 2018 at 9:00 a.m. (CEST).

Savosolar in brief

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, phone: +46 8-505 65 172.

Read more: Savosolar has agreed on 12-mth ext. for maturity...

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ET | Source: Albioma

multilang-release

Albioma Solar Réunion carried out the refinancing of the portfolio of photovoltaic projects in the Indian Ocean and established credit facilities to finance the Group's new projects in the same area for the next 18 months.

The financing, amounting to nearly €110 million, will enable the Albioma Group to optimise the financing of its existing projects and to extend the maturity of the current debt while securing the future financing of projects won under recent invitations to tender launched by the French Energy Regulatory Commission (Commission de Régulation de l'Énergie - CRE) or under feed-in tariffs.

This innovative financing, of a portfolio combining several distinct projects, secures the Group's growth over the next few years in the photovoltaic business in the Indian Ocean region under very attractive conditions.

The operation is carried out with Caisse d'Épargne CEPAC as lead arranger. Bpifrance and BRED took part in the transaction. Natixis is the only hedging bank for the transaction.

 

Albioma is the leading generator of photovoltaic power in Overseas France where it develops and operates innovative projects with integrated storage capabilities. Recently, the Group announced the construction of 51 photovoltaic installations on the roofs of the SHLMR (low-income housing rental company on Reunion Island), with a total capacity of 4.8 MWp.

 

Next on the agenda: Annual General Meeting of shareholders at 3 pm on 30 May 2018 in the auditorium of the Capital 8 Conference Centre, 32 rue de Monceau, 75008 Paris.

 

About Albioma

An independent responsible energy producer, Albioma is committed to the energy transition thanks to biomass and photovoltaics. 

The Group, which is established in Overseas France, Mauritius and Brazil, has developed a unique partnership for 20 years with the sugar industry, to produce renewable energy from bagasse, a fibrous residue from sugar cane.

Albioma is also the leading generator of photovoltaic power overseas where it constructs and operates innovative projects with integrated storage capabilities.

For more information, follow us on Twitter, Facebook and LinkedIn and visit www.albioma.com

Investor contact

Julien Gauthier
+33 (0)1 47 76 67 00

Media contact

Charlotte Neuvy
+33 (0)1 47 76 66 65
This email address is being protected from spambots. You need JavaScript enabled to view it.

Albioma shares are listed on Euronext Paris (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans.

ISIN FR0000060402 - Ticker: ABIO

Read more: ALBIOMA : signature of a €110 million financing...

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ET | Source: RGS Energy

DENVER, May 10, 2018 (GLOBE NEWSWIRE) -- A “new day is dawning” for the POWERHOUSE™ brand of in-roof solar shingles, which Dow Chemical Company has licensed RGS Energy (NASDAQ:RGSE), according to a new article published by Plastics News, a leading publication covering the plastics industry.

The article highlights the progress RGS Energy has made toward UL certification of the next-generation version of the solar shingle, and the ongoing preparation by the company’s supply chain manufacturing partners for the upcoming product launch.

The full article, ‘Supply Chain Partners Ready for Powerhouse Shingles to Shine,’ is available under the ‘RGS In the News’ section at RGSPOWERHOUSE.com or by clicking here.

About Plastics News
Plastics News has the North American Plastics Industry's largest readership, with 45,325 subscribers on average to the weekly publication. 88% readers use Plastics News as their primary source of industry information. Plastics News has a strong global footprint through its international platforms including Plastics News Europe and Plastics News China. For more about the Plastics News, go to www.plasticsnews.com.

About RGS Energy 
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities. 

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.

Follow the company’s progress towards the planned launch this summer of POWERHOUSE™ 3.0 by  visiting the PowerLines news section at RGSPOWERHOUSE.com.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.  

Forward-Looking Statements and Cautionary Statements
The Plastics News article this press release refers to contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding RGS Energy’s plans for the commercialization of the POWERHOUSE™ 3.0 solar shingle, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “forecast,” “project,” “expect,” “plan,” “future,”  “may,” “hypothetical,” “will,” “anticipate,” “estimate,” “could,” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite UL certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and its obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles be competitive; the performance of POWERHOUSE™ 3.0 and its ability to generate cost-effective cost-savings to customers; cost and availability of raw materials; competition in the built-in photovoltaic solar system business; [rules, regulations and policies pertaining to electricity pricing and technical interconnection of customer-owned electricity generation such as net energy metering; the continuation and level of government subsidies and incentives for solar energy; the continuation and level of utility and state incentives for solar energy; and changes in general economic, business and political conditions, including tariffs on imported solar cells and changes in the financial markets].

You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements or forward-looking hypothetical examples made by us in this press release speaks only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement or forward-looking hypothetical example, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact:
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

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