ersol successfully completes placement of cash capital increase

  • Issuing volume of around EUR 56.2 million
  • Trading in new shares scheduled to begin on 23 July 2007

Erfurt, 18 July 2007. ersol Solar Energy AG (ersol) has successfully placed its prospectus-free cash capital increase with subscription rights in the amount of 923,524 ordinary bearer shares with existing ersol shareholders and has placed the portion of the new shares not purchased through the subscription offering with notable qualified German and international investors via Accelerated Bookbuilding. Registration of the completion of the capital increase is planned to occur on 19 July 2007. The successful transaction was accompanied by HSBC Trinkaus & Burkhardt AG, Düsseldorf, as Lead Manager and Sole Bookrunner.

With a subscription price of EUR 60.00 per share and a placement price for the shares not subscribed to by existing shareholders of EUR 65.00 per share the Company will accrue a total of around EUR 56.2 million (before transaction costs). The proceeds from the capital increase will allow the Company to proportionately finance its continued strong growth and the downpayments on the long-term silicon supply agreements it has concluded.

The newly issued shares carry full dividend rights as from 1 January 2007. The new shares are due to be included in the listing of the old shares on the Frankfurt stock exchange under the international identification number ISIN DE0006627532 as from 23 July 2007. The Company?s new share capital will amount to EUR 21,447,048.00.

Dr. Claus Beneking, CEO of ersol Solar Energy AG, notes: ?We are delighted with the way the market has responded. The successful placement of the capital increase shows us that our shareholders trust the strategic direction of the ersol Group. Our growth is continuing to outperform the market ? at a high technological level.?

About ersol
ersol Solar Energy AG produces and markets high-quality silicon-based photovoltaic products. The Group comprises the divisions Silicon, Wafers, Solar Cells and Modules. With sales of € 128 million in financial year 2006, the Thuringia-based company is one of the leading companies in the solar industry. Listed since 30 September 2005 on the Prime Standard of the Frankfurt Stock Exchange, the young ersol share had already been added to the TecDAX on 19 December 2005. Currently the ersol Group has more than 600 employees.

The Company?s main goal is to establish itself even more strongly as a manufacturer of high quality silicon solar cells and to account for a disproportionate slice of the anticipated growth in the photovoltaic industry. To achieve this, ersol currently focuses on technologically demanding stages of the value chain for photovoltaic plants, and in particular on the production of wafers and solar cells. There are a number of pillars to the Company?s supply of the raw material it needs, silicon. It is primarily secured by longterm delivery agreements with leading polysilicon manufacturers. In addition to this, the Company?s internal recycling capacities in the silicon area also make an important contribution. Silicon is processed in the Wafers area. The monocrystalline wafers manufactured there are preliminary products for the manufacturing of highly-efficient silicon solar cells in the Solar Cells division. Since early 2006 the Company has been delivering a part of its solar cells for the production of solar modules to the joint venture Shanghai Electric Solar Energy Co. Ltd. (SESE) in which the ersol Group has a 35% holding. The sales of these and other photovoltaic modules are handled in part by the Modules business segment. In the future, this segment is expected to include the Company?s own module production, planned for 2009. ersol also develops silicon-saving thin-film technology in the Modules segment. A production facility for thin-film silicon modules is being built for this.

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