Swedish solar energy technology provider Midsummer experienced a record year in 2016, with revenues nearly doubling and increased profits, due to several new orders for the company’s DUO thin film solar cell manufacturing system.
Midsummer is a leading provider of equipment for the manufacture of flexible CIGS thin film solar cells which has several times been named as one of Sweden’s and Europe’s fastest growing technology companies. In its Annual Report for 2016, the company announces sales revenues of 60 million Swedish Kroner (MSEK), up by nearly 100 percent from the previous year, and an annual profit of 10 MSEK. 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.”
Lindström added that yet again the company has shown that Swedish technology is at the forefront of the race towards a fossil free planet.