Planet Soar signed a framework agreement to acquire Production Line for T160 Solar Collector in France from Absolicon Solar Collector AB for €5 million.

Planet Soar signed a framework agreement to acquire Production Line for T160 Solar Collector in France from Absolicon Solar Collector AB for €5 million on January 11, 2021. The total sales value covered by the agreement is estimated at €4 to €5 million plus a monthly license fee of 4% and sales of components for which the production line in full production produces on a shift 50 MW solar collector (100 000 m2) per year with sales value €20 to €25 million which with 4% license fee would mean about €0.8 per year in license revenue. The framework agreement prescribes the principles for the separate agreements to be drawn up.

As on January 22, 2021, the sales value of the agreement is at the lower end of the range of €4 to €5 million. If h2t consultores fails to meet its commitments at every stage, they lose the right to complete the acquisition and then have the opportunity to recover part of the purchase price, but never for Absolicon's incurred costs.