Renewables AB


TradeVenue have made an interview last week with our chair of the board Anna Eriksmo.


Sales particularly in the Netherlands and in South Africa, is going well and pipeline continues to look good. Won and closed deals in June and July amounted to € 652 000. However, sales in the USA have so far fallen short of expectations, while costs are significant, investment needs are high and financing conditions in North America are poor in the current investment climate. This has led to operations in the USA being put on hold for a while, awaiting a better investment climate and more stable energy prices.

In the long term, however, USA is a promising market, not least the food industry represents significant potential as North Americans eat significantly more processed food compared to, for instance, Europeans. The new concentrating solar collectors that Solarus Renewables develops will be particularly suitable for this purpose.


Solarus Renewables AB and SolarPeak AB in Robertsfors have, in fierce competition, received grants from EU, for a research and development project within photovoltaic thermal solar collectors and systems that Solarus Renewables and SolarPeak will do jointly with four other partners in Sweden, Denmark and Portugal.

Solarus Renewables receives € 77 140 while SolarPeak receives € 130 130 in grants.




Upcomming event

Monday 2023-05-29 at 17:00, Malmö, Sweden. Solarus Renewables, Etikinvest and Vontobel presents at Feminvest.

Martijn Wijnen, former CFO, has received new duties and left his position in Solarus Renewables. We wish Martijn all the best and have started the process to recruit a new CFO. If you are interested in the position please contact us.


Report from the Annual Shareholders Meeting in Solarus Renewables AB (publ) 2023-05-04.

42.8% of the votes in the Company was represented in the meeting.

The result in was presented and approved. The result in the annual report is slightly better than in the earlier communicated year-end report,

SEK -825 568 instead of SEK -987 294.

The main explanation for the difference is that unrealized interest and rate differences have been included in the annual report. The equity ratio is slightly lower than earlier communicated 87.9% instead of 90.0%. The difference is due to balance posts being moved from 2023 to 2022.

On behalf of the board, Managing Director Jan Cedervall presented the utterance regarding the proposed appropriation of earnings, where the board proposed conversion of SEK 696 600 SEK in conditional shareholders contribution from Solarus Sunpower Holding AB to setoff claims that could either be setoff to securities in upcoming new issues or be converted into conditional shareholders contribution again in case they are not set-off before next year's Annual Shareholders Meeting. Hence no cash can flow out of the Company as a result of the proposed appropriation.  

The proposed appropriation of earnings was approved by the Meeting and in immediate connection to the decision it was again clarified and stated that a liability of SEK 696 600 to Solarus Sunpower Holding AB occurred as a result of the decision. The liability can be setoff to shares in issues decided and carried out during the board year, but the liability cannot be repaid in cash.

The meeting decided to renumerate the chair of the board, Anna Eriksmo, with half of the Swedish income base index that is SEK 37 150 for the board year 2023/2024 and at most 500 000 options to subscribe shares at SEK 3.25 a share over a period on of 10 years, conditioned on the shares being tax free for the company and further that Anna Eriksmo is still a continuous member of the board. Exercise of options can take place at earliest after three years and after the board has judged the performance of the company and Anna Eriksmo and if it is as expected the board intends to suggest that Anna Eriksmo can exercise the equivalent of 15 000 to 30 000 options a year, that is 150 000 to 300 000 options over 10 years. The board doesn't intend to utilize the possibility to let Anna Eriksmo exercise all 500 000 options but still want to have the flexibility to suggest exercising both less than 15 000 options a year and more than 300 000 options over 10 years in case developments take unforeseen turns, but still with an absolute ceiling of 500 000 options. The coming board suggestions regarding exercise of options will be decided upon by future Annual Shareholders Meetings that have the possibility to alter or reject the suggestions if that can be fairly motivated. In case of rejection without fair ground, the Company will be liable to damage claims.

The meeting further decided to give the board the mandate to decide on renumeration to directors that are not employed by the company whit at most SEK 999 a director for the board year 2023/2024.

The board and auditor were re-elected.

The meeting decided on the following changes of the Company statutes.

The share capital shall be minimum 913 000 and maximum SEK 3 652 000 SEK.

The number of shares shall be minimum 4 150 000 and maximum 16 600 000.

The statutes shall include a Record Day Provision.

The board got the suggested mandate to decide on issues.

Information on the board's decision from 2023-04-26 on a share issue summarised as follows:  

• Subscription is made in three periods

First period 2023-05-29 until 2023-06-15

Second period 2023-06-16 until 2023-07-15

Third period 2023-07-16 until 2023-08-15

• Share price 6.25 SEK a share.

• Subscription is made in posts of 80 shares at 500 SEK a post.

• Minimum subscription for new shareholders is 10 posts or 5000 SEK and 2 posts or 1000 SEK for current shareholders.

• Allotment is made at the end of each period

• Volume of issuance 640 000 share or 4 000 000 SEK with an option to decide on over-allotment of 320 000 shares or 2 000 000 SEK.

• Pre-money valuation 26 468 750 SEK

By 2023-04-24 all warrants in series TO1 have been called.



Call to annual shareholders meeting 2023-05-04 at 17:30 in Uppsala, Sweden.


Solarus Renewables welcomes Magor Demeter, who started his employment 2022-12-30. Magor is an internationally experienced researcher, engineer and project entrepreneur having previously worked for MG Sustainable Engineering in Sweden, Danish Frontmatec and SC ELDEM in Romania. Magor has his bachelor's degree from VIA University College in Aarhus in Denmark and his later education from Aalborg University, likewise in Denmark.


Solarus Renewables AB and Solarus Sunpower Holding AB have signed an agreement to acquire shares in the Swedish solar energy company SolarPeak AB in Robertsfors from its current majority owner Amrox Group AB. Solarus Sunpower Holding AB acquires shares corresponding to 18% of the ownership and Solarus Renewables AB acquires shares corresponding to 16% of the ownership in SolarPeak AB and an option to acquire another 41% in 2023 and an option to acquire Solarus Sunpower Holding AB's shareholding in SolarPeak AB. SolarPeak is developing low-temperature photovoltaic thermal (PVT) collectors that will complement the high-temperature PVT collectors that the Solarus companies sells today.

The recent share issue in Solarus Renewables AB of SEK 5.55 million was subscribed to 121.8%. To avoid a concentrated ownership structure and since there might be room for a higher valuation in the next issue The Board decided to not make any over-allotment.


Solarus Renewables share issue will be over subscribed and the board will have a positive attitude towards over allotment.


News in Solarus Renewables over the last month.

The subscription period in the ongoing new issue is extended to 2022-12-12 at 1 p.m.

Settlement date when payment for subscribed shares must be received by the Company will be 2022-12-16.

The reason for the extension is due to delay of the translation of the investment memorandum into English  and that negotiations are ongoing together with Solarus Sunpower Holding AB to acquire the majority in another solar energy company, which develops low-temperature photo voltaic thermal solar collectors. The other company would complement Solarus Renewables' current focus on high-temperature solar collectors well and could add value to Solarus Renewables. Solarus Renewables hopes the negotiation will be finished in early December.

Solarus Renewables welcomes Alexander Loris, who was employed with Solarus Renewables AB 2022-11-01. Alexander is an internationally experienced researcher with work experience from Switzerland, England, USA, Germany and Sweden. Alexander has experience from both industrial and academic research and in Sweden Alexander has worked for both Absolicon Solar Collector and MG Sustainable Engineering. Alexander holds a Master's degree in Mechanical Engineering from the University of Southampton.

Solarus Renewables has signed an agreement with Black River Corporate Finance to begin the journey towards a listing of Solarus Renewables shares on an appropriate MTF list. Solarus Renewable's goal is that listing should take place in Q4 2023 or Q1 2024.

Work on the establishment in Cyprus is progressing and discussions with several new potential partners are ongoing.


There has been technical problems with software recognition of the web-camera why it's been decided that not to broadcast our investor events live but rather to try to publish recordings later.


One of Solarus Renewables larger owners Etikinvest starts it's share issue today.


Subscription has been extended until 2022-10-22.

The reason is that Solarus Renewables will participate in events in Stockholm and Uppsala that are later than the former closing time.


Thursday 2022-09-27 time 18:30, Ronneby, Sweden

Ronneby Brunn, Reddvägen 2.

Aktiespararna's event Solarus Renewables, Absolicon Solar Collector och Etikinvest.

Registration link:

Tuesday 2022-10-11 time 17:10, Stockholm

Mötesrum, Luntmakargatan 52, 1 staircase no elevator.

Investor event with Solarus Renewables and Etikinvest

Wednesday 2022-10-12 time 17:10, Uppsala

Base 10, Stationsgatan 23

Investor event with Solarus Renewables and Etikinvest


Information on the board's decision from 2022-06-29 on a share issue summarised as follows:

• Subscription time until 2022-10-10

• Volume of issuance 925 000 share or 5 550 000 SEK

• The issue is guaranteed by undertakings and underwriting commitments covering 90,48% of the issue.

• Share price 6 SEK

• Pre-money valuation 18 432 000 SEK

• Subscription is done in units of 50 shares at 300 SEK, minimum 5 units.

• Present shareholders and private persons in EEC and Great Britain with securities account may subscribe. For legal entities a Legal Entity Identification LEI is required as well. After individual trial by the Board, other persons may be given right to subscribe as well. Pre-emption is given to present shareholders.



The Swedish Company registry Bolagsverket has registered our new name Solarus Renewables AB (publ) in place of the former Solarus Sunpower Crowd AB.


The board has appointed Martijn Wijnen to financial officer. Martijn also works for Epidemic Sound and is chief executive officer at Etikadmin A-Z AB. Martijn has a wide international experience and multiple language skills and speaks Dutch, Spanish, English and Swedish. Natrually Martijn has concerns about climate and environment. Martijn Wijnen has a bachelor's degree from IE Business School in Spain.