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Planet Soar to buy Absolicon production line in France

January 18, 2021
oil and gas

Planet Soar has signed a framework agreement with Absolicon for the acquisition of a production line for the T160 Solar collector in France.

Planet Soar is a renewable energy company based in France that supports several actors in the deployment of renewable energy project infrastructure. The total sales value covered by the agreement is estimated at € 4-5 million plus a monthly license fee of 4 per cent and sales of components. The framework agreement prescribes the principles for the separate agreements to be drawn up.

The framework agreement describes the separate agreements to be drawn up in the process. Absolicon's proceeds from the sale can be grouped into three groups: acquisition of the line, license revenue and revenue from material sales.

The production line is of the same model as Absolicon has in Sweden and which the company has already delivered to Sichuan Province. The line with two six-axis robots has the capacity to produce 50 MW solar collectors (100,000 sq m) per year. Together with the hardware, Absolicon provides consulting support for marketing and technical support, development and technical training.

The total value of hardware and activities covered by the agreement is estimated at €4-5 million.

For the right to manufacture T160 under Absolicon's intellectual property protection, take part in future product development and use Absolicon's trademark, a monthly license fee of approximately 4 per cent applies to the sales value.

The production line in full production produces on a shift 50 MW solar collector (100 000 sq m) per year with sales value €20-25 million which with 4 per cent license fee would mean about € 800 000 per year in license revenue. Absolicon's estimate, however, is that it takes time for Planet Soar to develop the solar thermal market for industries in the region so that these volumes can be achieved.

France has a wide industrial sector which consumes around 60 per cent of total energy as heat, emitting 40 Mtons of CO2 every year*. By replacing only 10 per cent of fossil fuels used in the industries with Absolicon solar collectors to supply industrial heat demand, the estimate market potential for the T160 solar collector can be up to 8 million sqm (4GW).

Planet Soar is a renewable energy company based in France, that supports several actors in the deployment of renewable energy project infrastructure. Planet Soar provide solution such as financing, development, supply chain and project management. Together with its partners, Planet Soar deploy or supply the most innovative products and solutions to their respected markets.

Planet Soar will now undergo an online training and start marketing deployment. Discussions have just begun on the first pilot installations of the T160 in France. More detailed contract writing is now taking place. Payment is made step by step in the same way as in the previous sale of the production line to the province of Sichuan.

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