Savosolar Plc                     Company Announcement    22 August 2018 at 4.00 p.m. (CEST)

Savosolar appoints Torben Frederiksen as CTO

Torben Frederiksen (M.Sc. Energy Technology, born 1972) has been appointed Chief Technology Officer (CTO) of Savosolar Plc. Torben re-joined Savosolar this year after leaving Savosolar in 2016 to work as CTO for Falck Schmidt Defence Systems A/S. Between 2014 and 2016 Torben was working for Savosolar developing the large area collector and managing our three first large solar thermal system delivery projects in Denmark as project manager. Before that he worked as Head of R&D at Sunmark A/S, an international Danish large scale solar thermal system supplier and before that several years for Danfoss A/S in various product development and leadership positions. Torben is located in Denmark, in the middle of the biggest and most mature large scale solar thermal market in the world and close to the customers.

Kaj Pischow (born 1947), the founder and long time CTO of Savosolar Plc has been appointed Director , Senior Advisor . In this role he will have wide authority to advise and support different functions and operations of the company. He will also lead and participate in specific projects in the company. His main focus areas are new technology development, both in terms of products and production, as well as improving the competitiveness of the existing products, supporting product development with his wide experience and know-how.  He will also continue to be involved in the strategic business development and new customer acquisition at Savosolar.

Both Torben and Kaj are members of the Savosolar Plc. Management Team and report to CEO Jari Varjotie.

SAVOSOLAR PLC

For more information:

Managing Director Jari Varjotie Phone: +358 400 419 734 E-mail: jari.varjotie@savosolar.com

Savosolar in brief Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company's collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar's vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems - market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to 17 countries on four continents. Savosolar's shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.com

The company's Certified Adviser is Augment Partners AB, phone: +46 8-505 65 172.