Clean Industry Solutions

​The report can be found here: https://cleanindustrysolutions.com/en/investor-relations/financial-reports/

Significant events during the reporting period

• Industrial Solar to Install Another Photovoltaic System for f.q.b. gGmbH
• Update on Project with KEBE S.A. in Greece

Significant events after the reporting period

• Industrial Solar Awarded 196k€ for R&D Project SUSHEAT
• Industrial Solar Wins GIZ Tender for Renewable Process Heat

Comments from the CEO Christian Zahler

During Q1 2023, we continued our mission of creating a cleaner, greener future through innovative solutions and strategic partnerships.

One area of focus for our subsidiary Industrial Solar GmbH has been sector coupling. This entails integrating and coordinating various energy sectors to optimize efficiency, reduce emissions, and promote renewable energy integration. Industrial Solar recognizes the benefits of sector coupling in decarbonizing industries with solar energy and is exploring using heat pumps in power-to-heat (P2H) applications in the context of sector coupling. 

Collaborating with the German Agency for International Cooperation (GIZ), Industrial Solar is developing a tool to assess thermal technologies for industries. One technology under evaluation is industrial heat pumps for both low and high-temperature applications. This tool will aid decision-makers in selecting the best renewable solutions to replace carbon fuel boilers. It is widely acknowledged that a mix of technologies will be essential to decarbonize and interconnect sectors. Sector coupling, through optimizing energy consumption and utilizing waste heat, presents opportunities to enhance efficiency and reduce emissions in the industrial sector. 

Industrial Solar has an exciting roadmap for the remainder of 2023 with the increasing inquiries and projects in the pipeline. 

SolarSpring has made great progress within two of its R&D projects. For the project BrineMine, the implementation of the Membrane Distillation (MD) System took place in Chile, where geothermal water is concentrated and minerals extracted at the same time. And preparations for the MD system used in the project RoKKa run at full speed. SolarSpring will implement the first full-scale MD system in an industrial application. It will separate ammonium and produce ammonium sulfate (fertilizer) at the same time.
The set-up of production for the plate modules, which is expected to result in a cost reduction of 80% compared to the previous production method, is almost complete, and the first prototypes are being built.
    
As you can see from the quarterly figures, our other operating income - mainly subsidized R&D projects - in our total performance decreased by 70% but was significantly outweighed by the increase in sales by 645%.  
The further the energy transition progresses, the clearer it becomes that our solutions are indispensable. This is also confirmed by the sharp increase in inquiries via our websites. In this respect, we are confident that the growth phase of our group of companies has only just begun.