Midsummer signs 5-year deal with Italian roof manufacturer Medacciai – launches new curved solar roof product – EQ Mag Pro
Swedish solar energy leader Midsummer has signed a five-year multi-million euro deal with the Italian manufacturer of bespoke curved metal roofs Medacciai, according to which Medacciai undertakes to purchase 3.5MW/€6.3m of panels per year from Midsummer.
Also, the two companies will jointly launch a new product for the southern European market called Panel Energy signed this supply agreement with Medacciai.
According to the newly signed agreement, Medacciai undertakes to purchase up to 3.5MW of Midsummer’s Italian made thin film CIGS modules for a price of €6.3m per year for five years, implying a total contract value of €31.5m for a total of 17.5MW delivered.
Medacciai will apply Midsummer’s panels to its key product – a curved metal roof called iCurvi – and to other metal roofs that they manufacture.
“Panel Energy” to be launched
As part of the same contract but independent from the agreement above, Midsummer Italia agrees to purchase up to 50,000 sqm of metal roofs from Medacciai for a price of €3m per year for a period of five years. The roofs will be sold together with Midsummer’s solar panels to the Italian market. (The quantities are not binding for any party, and the prices can also change under certain conditions.)
In addition, the two companies will together commercialize a brand-new product named “Panel Energy” which is an energy producing metal roof built with Medacciai’s metals roofs and Midsummer’s solar panels.
“I am very happy to have signed this supply agreement with Medacciai,” said Jarno Montella, Manager of Midsummer Italia. “The innovative, light-weight and aesthetic characteristics of our solar panels fits perfectly with the superb quality of Medacciai’s products. The Italian real-estate-restructuring sector is currently booming, mostly due to the 110 percent tax rebate for solar panels that has been extended till the end of 2023. Medacciai is riding this restructuring growth wave with its products and is also considering expanding its production. We at Midsummer are ready to support Medacciai all the way!”
Roofs for Porsche and Ferrari
“Our Italian venture is off to a flying start, and I am impressed with the agreements that have already been signed on this vibrant market,” said Sven Lindström, CEO, Midsummer. “We are already starting to fill up the capacity in our new factory before we have even manufactured the first solar cell. The deals prove that the decision to locate our first megafactory to Italy was the right one.”
Medacciai is a company based in southern Italy specializing in curved metal roofs for commercial buildings like factories, hangars, sports arenas, train stations, agricultural and livestock farms etc. Its roofs and panels are insulated by revolutionary technology and installed using a patented interlocking system.
Some of its high-profile installations include the new Giurati Sports Center in Milan, the Jean Monnet Institute near Lake Como, the Porsche Experience Center in Castrezzato, the Ferrari store in Bari and the Hotel Excelsior in Abano Terme.
Midsummer Italia will soon start production at its factory in Bari where light, discreet and environmentally friendly thin film solar cells, including solar roofs, will be manufactured. The factory will be the largest facility in Europe for the production of thin film solar cells.
About Midsummer
Midsummer is a Swedish solar energy company that develops and markets equipment for the production of thin film solar cells and also manufactures, sells and installs solar roofs. The solar cells are of CIGS technology and thin, light, flexible, discreet and with a minimal carbon footprint compared with other solar panels. The Italian subsidiary of Midsummer is headquartered in Rome and the production facility is located in Bari.
The solar roofs are produced in Sweden using the company’s own unique DUO system which has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world. The Company’s shares (MIDS) are traded on Nasdaq First North Growth Market with G&W Fondkommission as Certified Adviser.
