First Berlin starts coverage of the TubeSolar share - Buy recommendation with price target 9.40 Euro

Augsburg, 29 October 2020 - The research house First Berlin, which focuses on small and micro caps, has started coverage of TubeSolar AG (ISIN DE000A2PXQD4, Dusseldorf Stock Exchange). In the analysis by Dr. Karsten von Blumenthal, an analyst specialising in CleanTech, TubeSolar's shares are given a buy rating and a price target of 9.40 euros, which corresponds to a price potential of around 42 percent at the time of publication. The calculation of the price target is based on a DCF model, which discounts the free cash flows generated in the future to the present value.

The analyst sees particular strengths of TubeSolar in the innovative technology for agro-photovoltaics, the existing patent protection, the low-cost and lightweight elevation with a steel cable construction and last but not least in the non-repayable investment grant of 10.8 million euros from the Free State of Bavaria.

The complete report is available on the TubeSolar AG website at www.tubesolar.de in the Investor Relations section.

About TubeSolar (www.tubesolar.de)
As a spin-off, TubeSolar AG has taken over the laboratory production including patents from OSRAM/LEDVANCE in Augsburg and has been using this patented technology since 2019 to manufacture photovoltaic thin-film tubes that are assembled into modules. These have considerable advantages over silicon solar modules in terms of weight, geometry, material usage, yield, long-term stability and recycling. The technology is to be used primarily in the agricultural sector and will span agricultural production areas. Over the next few years, it is planned to expand production in Augsburg to an annual production capacity of 250 MW.

About First Berlin (www.firstberlin.com)
The Berlin-based research house, which has been in existence since 1998, focuses on German small and micro cap companies. The services offered range from research and market intelligence to trading and professional support during and after the IPO.

Service
website: www.tubesolar.de
Investor Relations contact:
Maximilian Fischer, mailto: m.fischer@tubesolar.de
max Equity Marketing GmbH, Marienplatz 2, 80331 Munich, Germany, Tel.: +49 89 13928890