Climate Change Data

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Climate Change Mitigation
• Sustainable Development

Environmental Achievements

• Selected by the world's largest brewery group, AB InBev, to build a solar thermal plant to reduce carbon emissions.
• Construction of Sweden's largest solar heating park with concentrating solar collectors began.
• Received SEK 8 million in co-financing from the Swedish Energy Agency for a demonstration plant for large-scale solar heating.

Social Achievements

• Rapid digital transformation integrating Office 365, resulting in major efficiency gains.
• Oversubscribed share issue resulting in approximately 650 new owners.
• Participation in the Swedish pavilion at Expo 2020 Dubai (postponed to 2021) showcasing innovative Swedish sustainability technology.

Governance Achievements

• The Board of Directors is working to align its corporate governance with the rules of the Swedish Corporate Governance Code.
• KPMG appointed as auditor.
• The company's information and communication channels are set out in the company's communication policy.

Climate Goals & Targets

Environmental Challenges

• The global pandemic limited Absolicon's opportunities to travel, slowing down the installation of solar collectors worldwide.
• Long sales processes and long-term investments that have only been activated to a minor extent.
• Relatively high risks involved in international contacts and sales.

Mitigation Strategies

• Rapid conversion to teleworking and digitalisation of various processes.
• Active application for grants and subsidies for targeted activities.
• Continuous assessment of risks and work to mitigate them.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: K3 (Swedish Accounting Standards)

Certifications: SOLAR KEYMARK (for T160 solar collector)

Third-party Assurance: KPMG

Sustainable Products & Innovation

• T160 solar collector
• New anti-reflective glass

Environmental Metrics

ESG Focus Areas

• Sustainable energy for all
• Decent work and economic growth
• Responsible production and consumption
• Mitigating climate change
• Ecosystems and biodiversity

Environmental Achievements

• Absolicon's T160 solar collector has emissions of only 6-10 grams of CO2 per kWh produced, which is half that of other renewable heat sources and only 2-5% compared to fossil fuels.
• Sweden's largest solar thermal park with concentrating solar collectors for district heating was inaugurated.

Social Achievements

• Absolicon quickly recruited more employees, now over 40 sales people, technicians and engineers.
• Initial stakeholder analysis of Absolicon's sustainability work was conducted, through interviews with customers, partners, shareholders, employees and management.

Governance Achievements

• Absolicon is working to align its corporate governance with the rules of the Swedish Corporate Governance Code.

Climate Goals & Targets

Environmental Challenges

• Europe's unexpected harsh weather conditions and the economic upturn from the Covid-19 pandemic strongly impacted global gas demand, affecting natural gas prices.
• Covid-19 pandemic limited Absolicon's opportunities to travel, slowing down the installation of solar collectors around the world.
• High energy prices in Europe due to dependence on gas imports.

Mitigation Strategies

• Absolicon changed its strategy to focus more on Europe and developed a plan to phase out the use of gas for process heat and district heating networks.
• Absolicon rapidly converted to teleworking and digitalised various processes.
• Increased focus on Europe to ensure energy security.

Supply Chain Management

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• Goal 7
• Goal 13

Sustainable Products & Innovation

• T200 solar collector

Environmental Metrics

ESG Focus Areas

• Life cycle perspective; resource use, energy, waste
• Work environment and working conditions; gender equality and diversity
• Human rights
• Ethical business practices
• Land use, impact on biotopes

Environmental Achievements

• Absolicon T160 solar collector has world's highest optical efficiency and is made primarily of iron and glass, resulting in significantly reduced environmental impact compared to alternatives. Emissions are only 6-10 grams CO2/kWh produced, a halving compared to other renewable heat sources and only 2-5% compared to fossil fuels.

Social Achievements

• Not disclosed

Governance Achievements

• The company is working to adapt its corporate governance to the rules of the Swedish Code of Corporate Governance.

Climate Goals & Targets

Environmental Challenges

• Long sales processes and long-term investments that have only been partially activated.
• Delayed payments from signed contracts, posing financing challenges.
• Resource-intensive and expensive installations (Carlsberg and Peroni).

Mitigation Strategies

• Adapting investments and costs, finding more revenue streams.
• Developing consulting services with more offerings and clearer sales activities.
• Writing down the value of installations to reflect fair value.
• Improving internal routines for financial reporting.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: CE-marked, SOLAR KEYMARK, ISO/IEC 17065 (US Solar Rating & Certification Corporation (ICC-SRCC™))

Third-party Assurance: KPMG AB

UN Sustainable Development Goals

• 7
• 8
• 12
• 13
• 15

Not disclosed

Sustainable Products & Innovation

• Absolicon T160 solar collector

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Renewable Energy

Environmental Achievements

• Solar thermal field commissioned at Birra Peroni, Asahi Group, contributing to their decarbonization goals.
• Colgate-Palmolive installation in Athens highlighted by RTC as a successful case study, saving 39 tons of CO2 annually.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Short-term liquidity strain due to delayed payments from production partners in Egypt and Canada.
• Slowed market for Swedish small companies due to high energy prices, inflation, and war.

Mitigation Strategies

• Secured financing for the next 24 months through a rights issue of approximately 46 MSEK (62% guaranteed).
• Focusing on reducing operating costs.
• Exploring new sales strategies, including selling solar collectors without integration to other equipment.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)

Absolicon's solar thermal technology contributes to these goals by providing renewable heat solutions for industries and reducing reliance on fossil fuels.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Climate Change
• Sustainable Development

Environmental Achievements

• Collaboration with Zimbabwe's ZESA to establish a production line for concentrating solar collectors, aiming to replace 1400 coal-fired boilers.
• Partnership with Tetra Pak to develop and sell solar-powered pasteurization machines, with potential to reduce fossil fuel use up to 40%.

Social Achievements

• New industrial doctoral student focusing on advanced nanomaterials for solar thermal applications, funded by the WISE program.
• Participation in IEA Solar Heating and Cooling Task 68, collaborating with universities and companies on technological challenges.

Governance Achievements

• Successful rights issue, raising approximately 28.4 MSEK before emission costs.
• Appointment of Fredrik Spendrup as strategic advisor to support business in strategic matters.

Climate Goals & Targets

Environmental Challenges

• Time-consuming processes for delivering and receiving payment for production lines.
• High costs and resource-intensive nature of pilot installations.
• Challenging market conditions for capital acquisition.

Mitigation Strategies

• Adjusting investments and costs.
• Developing new revenue streams, including consulting services.
• Writing down the value of pilot installations to reflect their actual energy production.
• Developing new methods for more efficient and cheaper installations.

Supply Chain Management

Responsible Procurement

• Collaboration with suppliers for efficient and cost-effective installations

Climate-Related Risks & Opportunities

Opportunities

• Growing demand for renewable energy solutions

UN Sustainable Development Goals

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation and Infrastructure
• SDG 13: Climate Action

Absolicon's activities contribute to these goals by providing renewable energy solutions, promoting sustainable industrial practices, and mitigating climate change.

Sustainable Products & Innovation

• Concentrating solar collectors
• Solar-powered pasteurization machines

Environmental Metrics

ESG Focus Areas

• Climate Change
• Renewable Energy

Environmental Achievements

• Reduced CO2 emissions per unit of heat generation compared to conventional and other renewable technologies in various industrial applications (Breweries, Power Plants, District Heating etc.)
• Provided solar heat solutions for industries worldwide, contributing to the reduction of fossil fuel dependence.

Social Achievements

• Collaborated with Carlsberg Group and Birra Peroni on projects to reduce their carbon footprint.
• Partnered with various organizations and research institutes on projects promoting sustainable energy solutions.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Solar Keymark, ICC-SRCC

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation, and Infrastructure)
• SDG 13 (Climate Action)

Absolicon's solar thermal technology contributes to these goals by providing clean and sustainable heat solutions for various industries, reducing reliance on fossil fuels, and mitigating climate change.

Sustainable Products & Innovation

• Absolicon T160 concentrating solar collector

Awards & Recognition

• Not disclosed