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Sites decision: Meyer Burger wants to establish its own production of solar cells and solar modules in Saxony-Anhalt and Saxony Meyer Burger selects traditional solar sites in Bitterfeld-Wolfen (Saxony-Anhalt) and Freiberg (Saxony) for the establishment of production facilitiesUse of existing infrastructure is aimed at saving resources - skilled workers and competencies available in the regionsRamp-up plans: production start in the first half of 2021 with 400 MW solar cells and 400 MW solar modules, expansion to 5 GW plannedUse of locations requires successful implementation of capital increase
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) has chosen locations in the “Solar Valley” in Bitterfeld-Wolfen (Saxony-Anhalt) and in Freiberg (Saxony) to start its own solar cell and module production. “We are looking forward to revitalising two of the most traditional solar locations in Europe and creating new jobs," said Gunter Erfurt, CEO of Meyer Burger. “The fact that we are able to use existing infrastructures and the high level of expertise in the regions is a conscious strategic decision that will enable us to achieve short ramp-up times and high product quality”.
A team of internal and external production specialists evaluated the conditions at the sites and rated them as very favourable. In Bitterfeld-Wolfen, Meyer Burger rents buildings of the former solar cell manufacturer Sovello on a long-term and cost-effective basis. Initially, the buildings will cover an area of 27,000 square metres; additional space can be rented for extensions if required. Meyer Burger will use its latest production equipment there to manufacture highly efficient solar cells using the proprietary heterojunction technology.
The high-efficiency cells are further processed into SmartWire modules in Freiberg, almost 150 kilometres away. “With Meyer Burger, there is once again a supplier of technologically leading solar cells Made in Europe,” said Gunter Erfurt. “Almost all solar modules manufactured in Europe today contain cells that come from Asia.”
Meyer Burger will manufacture the patent-protected SmartWire modules in a production facility of the former Solarworld Group. To date, it is the largest and most modern plant of its kind in Europe. With an area of around 19,000 square metres, it also offers optimal conditions for the conversion and adaptation of the existing infrastructure and the highly automated module production lines. Today, the plant has an annual nominal capacity of more than 600 MW, which can be increased to more than 800 MW with new technologies. In addition, Meyer Burger is acquiring the modern logistics and distribution centre (14,000 square metres) at the former Solarworld site in Freiberg, which will provide the infrastructure for the establishment of an efficient distribution structure. The parties have agreed with the insolvency administrator, Christoph Niering, not to disclose the purchase price.
The capacities for the start of production in the first half of 2021 will be 400 MW per year in solar cell production and 400 MW in module production. Further expansion is then planned up to 5 GW. Meyer Burger intends to produce next-generation solar modules that have a higher output per area and a significantly higher energy yield compared to the current standard technology.
Takeover of sites planned subject to completion of planned capital increase
The development of the two locations by Meyer Burger requires the successful implementation of the planned ordinary capital increase announced on 19 June 2020, with targeted gross proceeds of CHF 165 million. For this, the company requires the approval of the shareholders at the Extraordinary General Meeting on 10 July 2020. The transaction is expected to be completed by the end of July. Furthermore, the creditors' meeting of Solarworld Industries GmbH still has to approve the purchase agreement of the Freiberg sites.
Contacts:
Nicole Borel
Head of Corporate Communications
Tel: +41 33 221 28 34
nicole.borel@meyerburger.com
Dynamics Group AG
Andreas Durisch, Senior Partner
Tel +41 43 268 27 47 | Mob +41 79 358 87 32
adu@dynamicsgroup.ch
Media contact Germany:
Anne Schneider
Corporate Communications & Marketing
Tel: +49 3723 671 2235 | Mob +49 174 3491790
anne.schneider@meyerburger.com
About Meyer Burger Technology Ltd
www.meyerburger.com
Meyer Burger is a leading and globally active technology company specializing in innovative systems and production equipment for the photovoltaic (solar) industry. As an internationally renowned premium brand, Meyer Burger offers its customers in the PV industry dependable precision products and innovative solutions for the manufacture of high-efficiency solar cells and solar modules.
The comprehensive product range is complemented by a worldwide service network with spare and wearing parts, consumables, process know-how, maintenance and after-sales service, training courses and additional services. Meyer Burger is represented in the respective key markets in Europe and Asia and has subsidiaries and its own service centers in China, Germany, Japan, Korea, Malaysia, Switzerland, Singapore, Taiwan and the USA. The registered shares in Meyer Burger Technology Ltd are listed at the SIX Swiss Exchange (Ticker: MBTN).
This document is not intended to constitute an offer or solicitation to purchase or invest in any securities of Meyer Burger Technology AG (the "Company"). In particular, this document is neither (i) a prospectus as such term is understood pursuant to the Swiss Financial Services Act ("FinSA") nor (ii) an issuance prospectus pursuant to article 652a of the Swiss Code of Obligations in its version as it was effective immediately prior to the entering into force of the FinSA (the "CO") or a listing prospectus within the meaning of article 27 et seq. of the listing rules of SIX Exchange Regulation of November 8, 2019, in effect since January 1, 2020 (the "Listing Rules") or of the listing rules of any other stock exchange or regulated trading venue in Switzerland, in each case in conjunction with article 109 of the Swiss Financial Services Ordinance ("FinSO"). In connection with the rights offering mentioned herein, the Company intends to prepare an issuance and listing prospectus pursuant to article 652a of the CO and article 27 et seq. of the Listing Rules, in each case in conjunction with article 109 of the FinSO. Investors are advised to consult their bank or financial adviser before making any investment decision.
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.
This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of Meyer Burger Technology AG to which these materials relate have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in or into the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This document is only addressed to and directed at persons in member states of the European Economic Area ("EEA") who are qualified investors within the meaning of article 2(1)(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of the European Union of 14 June 2017 ("Qualified Investors"). In addition, in the United Kingdom, this document is addressed to and directed only at, and should only be relied upon by, persons who are qualified investors as defined under section 86(7) of the Financial Services and Markets Act 2000 and who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order or are persons to whom it may otherwise be lawful to communicate it to (all such persons being referred to as “Relevant Persons”). No other person should act or rely on this document and persons distributing this document must satisfy themselves that it is lawful. If you have received this document and you are not a Relevant Person, you must return this document immediately to the Company and not copy, reproduce or otherwise disclose it (in whole or any part). Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
This document may contain certain forward-looking statements relating to the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update any such forward-looking statements.
There will not be a public offering of securities in the United States, the United Kingdom or in any other jurisdiction other than Switzerland.
Media release pdfBitterfeld solar cell productionFreiberg solar module production
