PRESS RELEASE 23 JULY 2018
Italeaf: TerniEnergia sold two energy efficiency projects to Estra Clima Srl TerniEnergia, a smart company listed on the MTA of Borsa Italiana and part of the Italeaf Group, announces nnounces that it has finalized and signed all the deeds relating to the sale of two business units relating to energy efficiency interventions to Estra Clima Srl, a company of Estra Group, one of the leading player in the distribution and sale of natural gas in Central Italy, active in the sale and procurement of electricity, as well as in telecommunications, in the design and management of energy services and in the power generation from renewable sources. The company branches to be sold, with the relative financial and trade debts, refer to two energy efficiency lighting projects on behalf of two Tuscan municipalities, including the integrated management, ordinary and extraordinary maintenance of public lighting systems. The effects of the transaction are subject to the formal consent of the two municipalities to transfer the contract to Estra Clima Srl within 45 days from the request, and to other technical-contractual conditions typical of this type of transaction. The value of the two branches sold is equal to Euro 1.4 million gross of the debt relating to the financial lease on the plant of one of the two municipalities for Euro 0.45 million (inclusive of VAT) and trade debts for approximately Euro 0.25 million, as well as the value of some works to be carried out at charge of Estra Clima for approximately Euro 0.17 million. Payment will be made in cash: 90% of the collection, which is made up of the first three tranches, is subject to the fulfilment of the above conditions precedent, while the remaining 10% will be paid 6 months after the fulfilment of the above conditions. For TerniEnergia, the transaction represents a new, important part of the recovery and relaunch plan, aimed at completing, in the medium term, the transformation of the Company into a smart company and the overcoming of the current situation of financial tension of the Group, based on strategic guidelines identified by the Board of Directors.
TERNIENERGIA (TER. MI) , established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 400 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources. TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions. TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations. TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of "intelligent" services and solutions aimed at public and private customers in emerging sectors. TerniEnergia is listed on the MTA of Borsa Italiana.
This press release is also available on the Company website: www.italeaf.com
Italeaf SpA is obliged to make public this information pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 17.30 CET on 23 July 2018.
Certified Adviser
Mangold Fondkommission AB, +46 (0)8 5030 1550, is the Certified Adviser of Italeaf SpA on Nasdaq First North.
For further information please contact: Claudio Borgna CFO - Italeaf S.p.A. E-mail: borgna@italeaf.com
Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, Milano and Lecce; has international offices in London and Hong Kong. The company controls the smart energy company TerniEnergia, listed on the MTA of the Italian Stock Exchange, Skyrobotic, active in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market, Numanova, operating in the field of innovative metallurgy and additive manufacturing, and Italeaf RE, a real estate company. Italeaf holds, among others, a minority stake in Vitruviano LAB, a research center active in the R&D sector for special materials, green chemistry, digital transformation and cleantech.
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