According to FUNDER website data,
Eleven mutual funds hold NIS 1.27 million in Apollo Power
Below is the complete list of holdings
Below is a change in the holdings of the mutual funds in the Apollo Power share according to FUNDER-MVF data.
• The company completed the installation of a production line with an annual capacity of approximately MW6 and began selling its products to five main operating markets: floating solar, automotive, security, buildings and Off Grid.
• The company has begun to develop the “second generation” of solar sheets which is designed to simplify and reduce the cost of the production process, increase the production rate and may contribute to increasing the efficiency of the sheet.
• During the first quarter of 2021, the company plans to establish a research and development laboratory on an area of approximately 650 square meters near the company’s plant in Yokneam
Oded Rosenberg, CEO of Apollo Power, told FUNDER: “We conclude a year in which we first started selling to world-class customers in a variety of industries and we are in contact with other customers. 2020 was a leap in activity when the new plant we established allows us to supply solar sheets according to customer requirements Of joining the world’s leading groups in various fields in which we have a relative advantage, including: Ciel & Terre in the floating solar market, Udi, Chinese car giant Geely, Rafael in the defense market and more. “
Principles of business development in 2020:
• In 2020, the company completed the installation of a production line and began selling its products. As of December 31, 2020, the company’s total backlog stands at NIS 1.6 million, resulting from pilot projects paid for Hof Hacarmel water and the construction of a solar roof on a public building, as well as the completion of programming tests in the automotive and security fields.
• Currently, the plant’s annual production capacity is about MW6, with the addition of a number of other recently purchased machines, the potential annual production capacity is expected to increase to about MW 10. Depending on market demand, the company is considering increasing its production capacity (With an annual production capacity of over 100 MW).
• During 2020, the group began to develop the “second generation” of solar sheets, which is based on more common raw materials, designed to simplify the production process, increase the production rate, and may also contribute to increasing the efficiency of the sheet.
• During 2021, the Group intends to continue: (a) research and development activities in order to improve the efficiency and quality of the solar sheet while obtaining relevant standards and to reduce its production cost, (b) examine the possibility of increasing its production capacity subject to The Group, and (c) promote collaborations with existing and new partners.
Financial results in 2020
• Revenues in 2020 amounted to NIS 528,000 and gross profit amounted to NIS 116,000. The Group’s revenues resulted from the sale of solar sheets to various customers, some of which were manufactured in the Group’s production laboratory and some in the production plant established during the reporting period, as well as from performing programming tests in accordance with agreements with customers.
• Research and development expenses in 2020 amounted to NIS 7.8 million, compared with NIS 5.8 million in 2019.
• Selling, administrative and general expenses in 2020 amounted to NIS 5.8 million, compared with NIS 4.5 million in 2019.
• The total loss in 2020 amounted to NIS 14.2 million, compared with NIS 10.5 million in 2019.
As of the date of the report, the company finances the group’s activities mainly from shareholders’ equity, which amounted to NIS 23.5 million on December 31, 2020, compared with NIS 4 million in 2019.
As of December 31, 2020, the Company has cash in the amount of approximately NIS 16.5 million. As of the date of the report, the Company has not taken loans from banking and / or non-banking corporations.