Industrial Solar Holding Europe AB publishes its Annual Report 2019
2019 was another year the company managed successfully. Here is a summary of the main activities and achievements:
Market and Sales
We continued to invest heavily in building up a strong sales pipeline by developing individual projects to advanced stages. Our sales pipeline grew in 2019 by 200 MW (to a total volume of about 1.4 GW). Four end-users have already signed letters of intent. In September, we started a three-year project with the German Development Organization (GIZ) in which we will implement the first contracting project for solar heat. As the market is still at an early phase, high growth rates will prevail for a long time. As outlined in the annual report, the International Energy Agency estimates that an annual growth rate of 25% by 2050 is required in order for solar thermal to achieve its contribution to the industrial energy transformation.
Business Development and Partnerships
To optimize our sales process and to enhance the added value for our clients, we built up partnerships with other technology providers and investors. One of the most important decisions was to acquire the company SolarSpring which will allow us to address two crucial issues for both humankind and sustainable industrial production: clean energy and clean water. SolarSpring is also a spin-off from the largest solar research institute in Europe, the Fraunhofer Institute for Solar Energy Systems (ISE). SolarSpring was founded in 2009 and has the tools for innovative membrane- based water treatment systems, a technology especially suitable for water treatment in industry which requires heat for its operation. Jointly, Industrial Solar and SolarSpring will offer sustainable water treatment to industry.
In 2019, we developed a new version of our LF-11 Fresnel collector that reduces both costs and weight of the substructure by up to 50%. The new feature uses integrated lightweight platform walkways along the collector structure, permitting integration onto uneven roofs. Furthermore, the latest version of our LF-11 Fresnel collector was upgraded regarding the width of the individual mirror rows and the maximum string length. Accordingly, the optical efficiency for perpendicular incidence eta0 increased by 5,1% from 63,5% to 68,6% in comparison to the previous collector version. Both developments were finalized and communicated in January 2020.
The current Industrial Solar GmbH has officially taken over the H2020 SHIP2FAIR project with a funding volume of 1.4 Mio € from its predecessor company. Aside from this SHIP2FAIR project, Industrial Solar also participates in the FRIENDSHIP project, for which the company is granted another 456.000 € with a funding rate of 100% plus 25% for overhead over the next three years. Within these two R&D projects we will persue the development of our solutions for a sustainable industry and a circular economy.
By taking a look in all the chapters of this report you will receive a good overall description of our business, the potential and short-term outlook of our company.
The annual report 2018 is published today in English language.