Ad-hoc | 4 August 2008 06:41
NEW VALUE AG / Miscellaneous
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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New Value’s portfolio company Solar Industries signs joint venture with
Italian api nova energia
Solar Industries AG, a portfolio company of New Value AG (SWX: NEWN), api
nòva energia S.r.l. and Silicio Engineering S.r.l. join forces to set up a
plant for the production of highly pure silicon (polysilicon) for
photovoltaic (PV) applications. In addition, Solar Industries and its
strategic partner MX Group S.p.A. founded Solarcell S.p.A., which will
build up a crystalline silicon solar cells production facility in Italy.
Solarcell will have a production capacity of 67 MWp per year.
The agreement between api nòva energia, Silicio Engineering (a subsidiary
of MX Group S.p.A.), and Solar Industries AG represents an important step
for the development of the photovoltaic industry in Italy and Europe. The
joint venture agreement provides for the incorporation of a new company,
Italsilicon S.p.A., which will carry out the construction of the
manufacturing plant and the business activity of producing and selling
polysilicon. The plant will have a final production capacity of 2,500
tons/year, equivalent to approximately 250 MWp of module power. The
production is scheduled to begin early 2010. Each of api nòva energia and
Solar Industries AG will own 41.5% of the new company while Silicio
Engineering will own the remaining 17%. Furthermore, api nòva energia,
Silicio Engineering, and Solar Industries have scouted for technical
partners to assist Italsilicon in the basic and detailed process and
manufacture engineering of the plant. The selection of the chosen partners
is close to being achieved. The financing of Italsilicon will be a mix of
shareholders equity, bank loans and soft loans from local authorities.
Majority stake in Solarcell S.p.A.
In addition to the existing indirect participation in the profitable module
manufacturer Solarday S.p.A. - through its strategic partner MX Group -
Solar Industries has started business activities in the field of PV-cell
manufacturing. In May 2008, Solar Industries founded Solarcell S.p.A.
together with MX Group. Solar Industries owns a majority stake. Solarcell
will build up a crystalline silicon solar cells production facility in
Italy with a production capacity of 67 MWp per year. The production
facility will be located in the technology park of Vimercate (Milano).
Production is expected to start at the end of 2009 with a capacity of 33
MWp and will be increased to 67 MWp during 2010. The technology - in form
of turn key solutions - will be provided by Centrotherm AG, a leading
German-based company engaged in the solar energy sector with 320 employees.
Solarcell has signed a contract with a renowned Chinese energy company for
the supply of 675 MWp of silicon wafers over the period 2008 – 2015.
Solar Industries ready for growth. Next to New Value and Ernst Goehner
Foundation, Corisol Holding AG joined
as a new major shareholder. To finance the initiated and planned business
activities, Solar Industries plans to increase its share capital. Frank P.
Gross, COO of Solar Industries comments: 'The signing of the JV agreement
is a very important, additional step towards the implementation of our
strategy to become a fully integrated industrial company in the
photovoltaic value chain. In the same way, the inception of the Solarcell
project is to be seen as another essential element in our strategy
implementation, as it will allow us to focus in a first phase on the
Italian PV market, in close cooperation with our strategic partner MX
Group'. Rolf Wägli, Chairman of New Value adds: 'Demand for PV
applications in Italy has been booming following the introduction of Conto
Energia, a feed in tariff incentive scheme for PV systems. Since PV
production is quasi non-existent in Italy so far, we see great
opportunities for Solar Industries.'
Solar Industries AG is a Swiss industrial company with the mission to build
up operations in the entire value chain of the photovoltaic manufacturing
industry in Europe. Major shareholders include New Value with a stake of
31.3%, Ernst Goehner Foundation and Corisol Holding, a Swiss family office.
api nòva energia S.r.l., belongs to the Italian api group, active in the
production and trading of energy from renewable and traditional (natural
gas) sources. api nòva energia is currently among the leading companies in
the 'green energy' production sector in Italy and relies on over seventy
years of entrepreneurship experience of Brachetti Peretti family in the oil
& energy sector. The company develops, builds and operates energy
production plants using the most efficient and innovative technologies on
the market. Among a number of partnerships, in 2007 api nòva energia signed
off an agreement for approximately 350 MW wind farms in Sicily and Puglia
with the Spanish Iberdrola, a global leader in the renewable energy sector.
api nòva energia is active in photovoltaic, with multi-megawatt plants
under development and construction and aims to becoming one of the most
prominent players in this sector in Italy. For more information, please
visit the company website at www.apinovaenergia.com. Silicio Egineering
S.r.l. is the promoter of the Italsilicon project. The company has been
incorporated in 2006 with the purposes of structuring the project,
assessing its feasibility, particularly with regards to the engineering and
the technology necessary to the construction of the plant, as well as
performing business and market analysis. The majority shareholder of
Silicio Engineering is MX Group. a company active in the photovoltaic
manufacturing industry and in the Engineering, Procurement and Construction
(EPC) of photovoltaic plants. MX Group. is also the strategic partner of
Solar Industries. For more information, please visit the company website at
www.mxgroup.it.
Information about New Value
New Value, listed on the SWX Swiss Exchange, invests directly in
up-and-coming private companies from Switzerland and other German-speaking
areas, with above-average market and growth potential. As an investment
company, New Value encourages innovative business models using venture
capital, and provides them with support until success on the market is
achieved. The portfolio includes companies of different degrees of
maturity, all the way from market launch up through their establishment as
medium-sized operations with stable profits. A conscious choice has been
made to adopt a broad-based approach. The portfolio has companies
representing the areas of renewable energy, medical technology, health,
information technology and new materials. In selecting its holdings, New
Value sets great store on ethical business concepts and good corporate
governance. Criteria such as being meaningful, socially responsible and
economically sustainable are regarded by New Value as decisive competitive
advantages, having the effect of promoting the quality of products and
services offered and thereby making above-average performance potential
possible. Since New Value was founded, EPS Value Plus AG, Zurich, has
served as Investment Manager.
04.08.2008 Financial News transmitted by DGAP
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Language: English
Issuer: NEW VALUE AG
Bodmerstrasse 9
8027 Zürich
Schweiz
Phone: +41-43-344 38 38
Fax: +41-43-344 38 39
E-mail: info@newvalue.ch
Internet: www.newvalue.ch
ISIN: CH0010819867
WKN: 552932
Listed: Freiverkehr in Berlin, Stuttgart, München, Düsseldorf; Open
Market in Frankfurt; Foreign Exchange(s) SWX
End of News DGAP News-Service
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