The shares of Dutch solar energy solutions provider PhotonEnergy N.V. debuted today on the
NewConnect market of the WarsawStock Exchange. With the debut Photon Energy returned to the marketafter
growing from a start-up to a globally active group spanningthree continents in just five years. Photon
Energy N.V. is thefirst Dutch company to be listed on NewConnect.
Photon Energy N.V., a
Dutch solar power solutions group,successfully debuted on the NewConnect market of the Warsaw StockExchange
on 4 June 2013. With this step the company concluded arestructuring process which saw the company grow from
a Czech solarpower plant operator to a global photovoltaic solutions providerheadquartered in Amsterdam.
Photon Energy Group now spans threecontinents with a track record of 50 MWp of installed capacity, ofwhich
the company holds 25 MWp in its own portfolio. Photon EnergyOperations, the group’s Operations &
Maintenance (O&M)division, now services over 60 MWp of power plants in sixcountries.
“We
have come a long way from building our first power plantin the Czech Republic in 2009 to having commissioned
our firstrooftop installation in Australia this year,” saysPhoton Energy N.V. CEO
Georg Hotar.
Clear focus and strategy in a
fast-changingindustry
In the light of a fast-changing solar industry Photon
Energyintends to focus on those activities in the downstream segmentproviding multiple uncorrelated
recurring revenue streams. “Weintend to grow our Operations & Maintenance business both
inestablished photovoltaic markets with large installed generationcapacity while leveraging our experience
and capabilities inO&M to develop standardised financing solutions and energymanagement services”,
explained CEO GeorgHotar.
“For the development and
construction of new power plants wefocus outside the traditional PV markets in the EU. Besides thepromising
Australian market, where we have been present since 2011,we are preparing our entry into the equally
attractive Turkishmarket”, says Georg Hotar. Solar energy inTurkey
has in many regions reached grid-parity, meaning that solarenergy can be produced at prices competitive with
purchasingelectricity from the grid. Dynamic economic growth, a strongdependence on imported fossil fuels
and - after reaching aninvestment grade rating earlier this year – declining interestrates, provide an ideal
setting for solar energy in Turkey. “Weare equally working on investment opportunities in Ontario
whilepreparing a project development strategy for Japan. This geographicspread provides us with much-needed
diversification betweendeveloped and emerging markets on the one hand and betweenfeed-in-tariff-based and
grid-parity markets on the other”,adds Georg Hotar.
NewConnect
as an efficient listingplatform
With its listing on NewConnect, Photon Energy has
come full circleto where the company started. In October 2008, Photon Energy (thena Czech entity) listed its
shares on NewConnect as the firstforeign issuer while still a pre-revenue business. In 2010 thecompany
generated consolidated revenues of nearly EUR 100 million.With the introduction of retroactive measures in
the Czech Republicand regulatory discontinuity in European core markets such as Italyand Germany Photon
Energy started focusing on new markets andrestructuring into its current corporate form of
aNetherlands-based holding company.
“While navigating uncertainty and volatility
we remainedfocused on returning to the capital market as soon as possible,however, only after bringing on
board the minority shareholders inthe Czech predecessor. As promised, we enabled our originalinvestors to
swap their shares on a 1:1 basis in order to fullyparticipate in our future growth. We have demonstrated
that ourshareholders are truly important to us and we are genuinely excitedto fully benefit from our
NewConnect listing now and the broadopportunities of the Warsaw Stock Exchange in the medium and longterm”,
concludes CEO Georg Hotar.
To watch aninterview with CEO Georg Hotar and CFO Clemens
Wohlmuth clickhere.
Photon Energy N.V.
Ticker:
PEN
Nominal value 0.01 EUR
Reference price for the first trading session: PLN 1.08
(EUR0.26)
The current share price can be viewed at http://bit.ly/ZqjzlR
Amount of shares: 23,000,000
First
day of listing: 4 June 2013
Further information is available in the „Information Document“dated 29
May 2013, which can be downloaded fromwww.photonenergy.com
The securities referred to
herein have not been and will notbe registered under the US Securities Act of 1933, as amended
(the"Securities Act"), and may not be offered or sold in theUnited States or to US persons unless the
securities are registeredunder the Securities Act, or an exemption from the registrationrequirements of the
Securities Act is available. No public offeringof the securities will be made in the United States.
