Scandinavian House Development SA (“SHSA” or the “Company”) and its close business partner 24-7 Solar Ltd.
(“24-7”) have entered into a worldwide license agreement. Both partners will market renewable energy production and storage solutions for residential and industrial housing markets. Pursuant to this agreement, SHSA will receive a license fee between 1 and 3 percent on each contract volume that 24-7 Solar signs with external clients. 24-7 Solar expects the combined amount of royalties to be up to approximately CHF 10 million over a period of 5 years.
This license agreement is considered to be the first step of a full integration of 24-7 Solar Ltd. into Scandinavian House Development SA. 24-7 Solar has developed a number of applications and concepts within the solar power industry. The base is small scale solar energy production, with or without, accompanying energy storage, scalable and in different applications. For information about 24-7 Solar Ltd see their website www.24-7.solar.
SCANDINAVIAN HOUSE DEVELOPMENT SA
Route d’Oron 2, 1010 Lausanne, Switzerland
Exchange: NYSE Euronext Paris
Market: Marché Libre
Symbol : MLSHD
Disclaimer; Forward-Looking Statements:
This announcement or any other statement from SCANDINAVIAN HOUSE DEVELOPMENT SA contains forward-looking statements that are based on assumptions and estimations of SCANDINAVIAN HOUSE DEVELOPMENT SA. Words such as “estimate,” “expect“, “plan,” “project” and “will” and similar expressions identify such forward-looking statements. The actual results may differ substantially from such assumptions and estimations caused by various factors. These forward-looking statements speak only as of their dates and have been reasonable at that time. SCANDINAVIAN HOUSE DEVELOPMENT SA undertakes no obligation to publicly update or revise any forward-looking statements. This or any other statement from SCANDINAVIAN HOUSE DEVELOPMENT SA does not constitute an offer or a solicitation of an offer for the purchase or sale or subscription of any securities of SCANDINAVIAN HOUSE DEVELOPMENT SA in Germany, Switzerland or any other country. This statement constitutes pure information about the company. Each and any investment into securities, particularly into shares of young companies like SCANDINAVIAN HOUSE DEVELOPMENT SA, bears high risks including a total loss of the invested amount. Potential investors generally should consult a qualified advisor before taking any investment decision at all.