Swedish CIGS firm announces record year
Midsummer, a Swedish provider of manufacturing equipment for flexible CIGS solar cells, has presented a record result for 2016. Revenues nearly doubled and profits increased, due to several new orders for the company's DUO thin film solar cell manufacturing system.
2016 was an eventful and successful year for Midsummer, filled with several new orders for its compact thin film solar cell manufacturing system DUO. In its Annual Report for 2016, the company announces sales revenues of around â‚¬6.2 million, up by nearly 100 percent from the previous year, and an annual profit of around â‚¬103k. To meet the increased market demand the company hired 15 new employees during the latest year.
"2016 was a record year for us," said Sven Lindström, CEO, Midsummer AB. "We did some great business, and the market acceptance for our solar energy technology solutions increased, which resulted in several orders for our compact DUO thin film solar cell manufacturing system. The DUO system is now the most widely spread manufacturing tool for flexible CIGS solar cells in the world."
Midsummer is a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels, and also a leading Swedish growth and export company; Midsummer has several times been named as one of Sweden's and Europe's fastest growing technology companies.
"We have yet again shown that we are the leading provider and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Swedish technology is at the forefront of the race towards a fossil free planet and we look forward to the future, with continued development and increased sales of our solutions in the global market", Sven Lindström concludes.