Kaolin Ad

By Decision No. 1 of the Sofia City Court dated November 29, 2007, a joint-stock company having the firm SOLARPRO AD was entered into the Companies Register. Kaolin AD holds 90 % of the equity in the new company. The other shareholder in the newly incorporated company is Nikolay Berov. Mr. Berov is former Executive Director of the largest electronics company in Bulgaria - EPIC. Prior to this, he has occupied various posts in the production of integrated circuits in the Bulgarian microelectronics. He has extensive international experience and skills in managing large-scale innovative projects.

The Company has been incorporated having equity to the amount of BGN 2,500,000. As of the present moment, the legally required minimum has been deposited – i.e. 25 %. The remaining part will be additionally deposited within a time period of two years pursuant to the provisions of the Commerce Act and the Company’s Bylaws.

The new Company’s subject of activity is development and production of photovoltaic modules and photovoltanic power stations.

The incorporation of the said company constitutes part of Kaolin’s strategy for development of “green” products and applications, leading to the reduction of greenhouse gases emissions and the dependability on fossil fuels.