Corporate Governance


Advanced Soltech is a Swedish public (limited liability) stock company planning on being listed on Nasdaq First North. The company adheres to Nasdaq First North’s regulations for issuers.

Advanced Soltech was formed in Sweden and registered with Bolagsverket (the Swedish Office for Company Registration) on March 30, 2016 and has been conducting its business operations ever since that date. The company complies with the regulations of the Swedish Companies Act’s (2005:551), along with other relevant laws and ordnances in Stockholm, Sweden, where the company is headquartered.


Articles of Association


The Articles of Association of Advanced Soltech Sweden AB (publ) were appointed at the General Meeting 2021.

Articles of Association


Owners


The largest shareholders as of March 31, 2021

Shareholder Common shares Share capital (%) Votes (%)
SolTech Energy Sweden AB (publ.) 219,300 50.82 50.82
Advanced Solar Power Hangzhou Inc. 210,700 48.82 48.82
Preferred Share Holders* 0 0.36 0.36
Total 430,000 100 100

*The preferred shares will be converted to common shares at a listing, please see the Investor presentation for details


General Meeting


The Annual General Meeting is Advanced Soltech’s highest decision-making body. At the Annual General Meeting, shareholders exercise their voting rights on key issues such as setting upon income statements and balance sheets, outline of the company’s profits, granting discharge to the members of the Board of Directors and CEO, election of board members and accountants as well as compensation to the Board of Directors and the accountants.

In addition to the Annual General Meeting, Extraordinary General Meetings can be convened. In accordance with Advanced Soltech’s articles of association, notice is given to the Annual General Meeting and Extraordinary General Meeting through announcement in Post- and Inrikes Tidningar as well as by making the notice available on Advanced Soltech’s webpage. The fact that notice has been given is announced in Svenska Dagbladet.

Processing of personal data
For more information on how your personal data is processed we refer to our privacy policy.


Board of Directors


Advanced Soltech’s Board of Directors consists of six ordinary members, including the Chairman of the Board, elected at the latest Annual General Meeting.


Frederic Telander

Board Member


Born 1964

Experience
Frederic was CEO of SolTech Energy Sweden AB (publ) from 2009 to 2018. He is one of the largest investors in the company and held the position as Chairman of the Board from 2007 to 2009. Frederic has always taken great interest and focused on business development within environment and climate-smart technology. Experience from the family owned construction company Telac Construcciones SA, which with 300 employees was one of the largest private construction companies in southern Spain until the 1990’s. Previously partner at EIG Venture Capital Ltd., an investment company focusing on early stage investments in energy efficiency and clean tech. In 2001 to 2008, Frederic led the expansion of the Gas Turbine Efficiency AB Group which grew from approximately 1 MUSD to more than 35 MUSD in turnover. During the same period, he structured and capitalised the company, recruited key personnel, and negotiated agreements with clients such as Rolls Royce, Siemens, Pratt & Whitney, Statoil, etc. Previously Vice Chairman of GTE plc. and head lead in the listing process of the same company on the AIM list at the London Stock Exchange in December 2015 and the listing of SolTech Energy Sweden AB (publ) at First North at Nasdaq, Stockholm, in June 2015.

Education
Business Administration at Stockholm University.

Other ongoing assignments
CEO and Board Member at Sactum AB, Board Member at SolTech Energy Sweden AB (publ), Board Member at Advanced SolTech Renewable Energy Hangzhou Co. Ltd. and Board Member of NP Gruppen Aktiebolag


Stefan Ölander

Board Member


Born 1964

Experience
Stefan is one of the largest investors in SolTech Energy and a board member, serving as Chairman of the Board from 2013 to 2018. Stefan’s background includes having been the Director of Communications for SEB and Kinnevik. He is also the founder of Rewir, which was Sweden’s leading branding consultancy during the first decade of the 2000s. In 2006, Stefan sold Rewir to the Intellecta Corporate Group, which is listed on the Stockholm stock exchange. He continued as CEO of Rewir up until the fall of 2010, besides holding the position as Chairman of the Board in six of Intellecta’s consulting firms in Sweden and Denmark. In 2011, Stefan invested in Zacco, a leading consulting company within IP (Internet protocol), operational in five countries with total sales amounting to approximately 600 MSEK. Today, Stefan is one of the three largest owners of Zacco and is a member of Zacco’s Board of Directors. Over various periods, Stefan has been both CEO and Chairman of the Board of Zacco.

Education
High School academic degree, majoring in economics.

Other ongoing assignments
Member of the Board of Zacco AB (publ), Chairman of the Board in Advanced SolTech Sweden AB (publ) and Board Member of Advanced SolTech Renewable Energy Hangzhou Co. Ltd.


Ben Wu

Founder and CEO at the Chinese owner and partner Advanced Solar Power


Born 1973

Experience
Ben is founder and CEO of the successful thin film manufacturer Advanced Solar Power Hangzhou which he started together with his father in 2008. Ben is also CEO of Advanced SolTech AB’s Chinese company Advanced SolTech Renewable Energy. Prior to this, Ben had a long career within business development and finance as a management consultant with McKinsey from 2004 to 2006 and as an analyst at Himalaya Capital from 2002 to 2004, amongst other assignments. In 2007 to 2008, before founding Advanced Solar Power Hangzhou, Ben had a prominent role at Lenovo, whose investment company also became the first external investor in Advanced Solar Power. Education: MBA in Finance and Marketing, Columbia Business School. MS in Mathematics and Computer Science, Colorado School of Mines. BS in Mathematics and Computer Science, Colorado School of Mines.

Education
MBA in Finance and Marketing, Columbia Business School. MS in Mathematics and Computer Science, Colorado School of Mines. BS in Mathematics and Computer Science, Colorado School of Mines.

Other ongoing assignments
Board Member at Advanced Solar Power Hangzhou.


Gang Bao

Member of the Board since 2016 and CEO of Chinese Advanced SolTech Renewable Energy


Born 1969

Experience
Gang has operational experience from sales and business development in Chinese Advanced SolTech Renewable Energy since 2015. Prior to that, from 2012 to 2015, Gang was Head of Marketing and Sales and responsible for building a sales platform in approximately 30 different countries. Between 2008 and 2012, Gang held the position as Production Manager at Advanced Solar Power Hangzhou developing the manufacturing process for the company’s thin film modules (CdTe). Before joining the solar energy industry, Gang worked with sales and as a developer at different software companies.

Education
MS in Mathematics and Computer Science, Colorado School of Mines. BS in Mathematics, ShanDong University, JiNan.


Vivianne Holm

Member of the Board of Directors since 2020


Born 1965

Experience
Vivianne has extensive experience from the financial sector and she has in various roles previously worked with equity research, corporate finance and as an advisor with special focus on business development, raising capital and investor relations. Vivianne Holm is an active clean tech investor and also a board member

Education
Master in Economics and Business Administration from Stockholm School of Economics.

Other assignments
Board Member Climeon AB, Board member Hexicon AB, Board Member Inzile AB, Board Member Meva Energy AB, Board Member Rocker AB, Board Member Volta Greentech AB.

Holdings
11 Preferred Shares.


Patrick de Muynck

Member of the Board of Directors since 2020


Born 1956

Experience
Patrick has worked in the financial sector for most of his 35 year career working in London and New York. From 2000 until 2015 he was a Partner with EQT Partners responsible for Athe Credit activity and member of the Executive Committee. In recent years he is a private investor active either as Chairman or as board member.

Education
University of Brussels Solvay College.

Other assignments
Chairman of Ymer SC AB, Chairman of Dagar hf, Non executive Director of International Consumer Services Sweden AB, Non Executive board member of Kara Connect ehf.

Holdings
11 Preferred Shares.