Valoe Corporation Inside information 11 May 2023 at 10.10 (Finnish time)
Valoe Corporation ("Valoe" or the "Company") has received another new purchase order from Simoldes Plásticos S.A. ("Simoldes"). The previous one was received just some weeks ago. This new project aims for building a prototype of a polymer based solar window for a Stellantis passenger vehicle. The new window will provide electricity for extending the range and to support electronic devices such as air conditioning and infotainment. In terms of value, the order is equivalent to Valoe's early-stage prototyping projects and does not have a significant influence on the revenue or profit in 2023. Valoe expects the project to lead to significant income in 2024 and onwards.
Iikka Savisalo, CEO of Valoe says: "This kind of fully integrated solar system will evidently be part of the electrification of mobility in the future. Photovoltaic systems are integrated into the car panels and now also into the windows. A car with its more and more efficient solar charging system would not only get extra energy and functionality itself but also turn to a power plant with its solar charged battery pack providing electricity to the owner's house.
This kind of new technology could make motor vehicles as contributors to the transition into greener energy production instead of being only energy users. We at Valoe are proud to partner with such a prominent and forward-looking partner as Simoldes."
Júlio Grilo, Research and Innovation Head of Simoldes Plásticos S.A., comments: "It has been our pleasure to work with Valoe in our previous projects. Simoldes and Valoe share the same vision of making solar one of the key innovations for the motor vehicle industry. Valoe's ability to use polymers as base material for its solar panels is unique. We at Simoldes can hopefully use Valoe's modules in several large projects. Once again, we look forward to providing together with Valoe better service and product innovations to our automotive customers."
Simoldes Plásticos S.A. is a Portuguese company, subsidiary of Simoldes Group, with 22 manufacturing sites in 13 different countries. Simoldes is Europe's largest mould maker, supplying plastic injection moulds and plastic components for the automotive industry. Simoldes Group's main customers are worldwide automotive manufacturers like Stellantis (Peugeot, Citröen, DS Automobiles, Opel, Fiat, Chrysler, Jeep, Alfa Romeo), Renault, Porsche, BMW, Mercedes-Benz, Volkswagen and Audi. https://www.simoldes.com/en/plastics/
Valoe is an innovative technology company based in Finland that operates in the clean energy business. The company's objective is to have clean solar electricity available for everyone everywhere. Valoe's solar module plant is located in Juva, Finland, and the company has an IBC solar cell plant in Vilnius, Lithuania.
In Mikkeli 11 May 2023
Valoe Corporation
Board of Directors
For more information: Iikka Savisalo
President and CEO, Valoe Corporation
Tel. +358 40 521 6082, email: iikka.savisalo@valoe.com
Distribution:
NASDAQ OMX, Helsinki Main media www.valoe.com
