Meyer Burger successfully applies for 200 million euros in funding from the EU Innovation Fund for 3.5 gigawatt project

Ad hoc announcement pursuant to Art. 53 LR

Thun, July 13, 2023

Meyer Burger successfully applies for 200 million euros in funding from the EU Innovation Fund for 3.5 gigawatt project

Meyer Burger Technology AG, through its group company Meyer Burger (Industries) GmbH, submitted a funding application for EUR 200 million in the EU-wide selection process of the European Innovation Fund in March 2023. The project "HOPE" (High-efficiency Onshore PV module production in Europe) submitted by Meyer Burger has prevailed as eligible for funding, the EU Commission announced today. HOPE involves the construction of an additional 3.5 gigawatts of production capacity for solar cells and solar modules by Meyer Burger in Germany and probably in Spain.

The project is among the eleven selected candidates for EU funding in the funding segment "Clean Tech Manufacturing". According to the EU Commission, a total of 239 projects applied in all funding segments, of which 41 were successful. In the area of photovoltaic production, the Norwegian company Norsun was also successful with a project to expand wafer production. Norsun and Meyer Burger are already in a supply relationship for solar wafers for Meyer Burger.

"We are very pleased that the EU Commission wants to support our project," says Gunter Erfurt, CEO of Meyer Burger. "The EU is not only contributing to the decarbonization of the energy system and the transformation of the industry. It is equally investing in the resilience of supply chains in the solar industry."

The current EU Innovation Fund tender has a volume of €3.6 billion. The funds come from EU-ETS CO₂ allowance trading and thus directly drive decarbonization. The EU-wide selection process took four months.

In a formal process, the EU Commission will issue the formal grant decision after this selection decision, which Meyer Burger expects to receive before the end of this year.

Link to the official portal of the Innovation Fund: Projects selected for grant preparation (europa.eu)

Media contacts

Meyer Burger Technology AG
Christoph Podewils
Head of Politics & Corporate Communications
M. +49-174 3305 182
christoph.podewils@meyerburger.com  

Alexandre Müller
Investor Relations
M. +41 43 268 32 31
alexandre.mueller@meyerburger.com

About Meyer Burger Technology AG

www.meyerburger.com

Meyer Burger has started production of high-performance solar cells and solar modules in 2021. Its proprietary heterojunction/SmartWire technology enables the company to set new industry standards in terms of energy yield. With solar cells and modules developed in Switzerland and manufactured in Germany according to high sustainability standards, Meyer Burger aims to become a leading European photovoltaic company. The company currently employs around 1200 people at research facilities in Switzerland, development and manufacturing sites in Germany and sales offices in Europe, the United States, Asia and Australia.

Meyer Burger was founded in 1953 in Switzerland. As a provider of production systems, the company has shaped the development of the global photovoltaic industry along the entire value chain in recent decades and has set essential industry standards. A large part of the solar modules produced worldwide today are based on technologies developed by Meyer Burger.

The registered shares of Meyer Burger Technology AG are listed on the SIX Swiss Exchange (ticker: MBTN).