Latest News

Latest News

16Jan 2020

Italeaf, a holding company active in the cleantech and smart innovation sectors, listed on Nasdaq First North, has been notified by Nasdaq with a reprimand due to non-compliance with applicable listing requirements, in accordance with point 4.4 in the current Rulebook for Nasdaq First North Growth Market (”the Rulebook”), as part of the ongoing investigation by the Issuer Surveillance. Italeaf is considering the notification and its right to comment on the Exchange’s decision, which could lead to a potential outcome of the delisting.

06Jan 2020
  • Amount of the transaction equal to Euro 2.9 million
  • Closing expected by March 2020, following the inclusion of the transaction in the Group’s Recovery and Relaunch Plan

 

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, announces that a preliminary contract was signed for the sale to Buttol Srl (the “Buyer”), a company operating in the high quality environmental services sector through a sustainable development path, of 100% of the shares of NewcoEnergy Srl, owner of the biodigestion and biomethane production plant under construction in Calimera (LE), of the land subject to the intervention and the related building and environmental authorizations.

The amount for the sale of the company shares is Euro 2.9 million, while the transaction provides for the payment by the Buyer of a deposit of Euro 50 thousand upon signing the preliminary contract and an additional down payment of Euro 0.3 million to be paid into a trust account on 20 January 2020.

The closing of the transaction, expected by the month of March 2020, is subject to the condition precedent of successful completion of the requirements for the inclusion of the transaction in the TerniEnergia Recovery and Relaunch Plan.

It should be noted that on 18 December 2019, as communicated on the same date, the Environmental Protection and Valorization Service of the Province of Lecce granted an extension of 20 months of the deadline for the effectiveness of the Executive Determination concerning the “Environmental Impact Assessment Procedure (V.I.A.)” for the Calimera (LE) biodigestion, composting and biomethane production plant.

30Dec 2019

The Board of Directors of Italeaf S.p.A. (“Italeaf” or the “Company”), a holding company active in the cleantech and smart innovation sectors, listed on Nasdaq First North, met today, following the approval of the update of the 2019-2022 Reorganization Plan and the Financial Manoeuvre that is part of it (the “Plan”), as communicated to the market on October 30, 2019, and examined the progress of negotiations underway with financial creditors, aimed at signing a restructuring agreement pursuant to Article 182 bis r.d. 267/42.

Massimiliano Bonamini (a person with proven experience in the sector), a professional appointed by Italeaf pursuant to art. 182 bis r.d. 267/42, remains in charge of certifying the feasibility of the Plan, while Italeaf’s legal advisor is the Orrick firm. The Plan, prepared with the assistance of KPMG as industrial and financial advisor, aims to achieve the Company’s recovery.

The Board of Directors of Italeaf has therefore decided to continue negotiations with the creditors with the aim of concluding them and finalizing the agreements with creditors as soon as practicable.

Finally, following the announcement made on October 30, 2019, Italeaf’s Board of Directors deemed it appropriate to postpone any decision regarding the approval of the draft financial statements, the consolidated financial statements as at December 31, 2018 and the half-yearly report as at June 30, 2019 to a date to be defined after the completion of negotiations with the banking sector, and in any case by February 28, 2020, in order to take full account of the impact of the restructuring agreement when approving these financial data.

24Dec 2019
  • The sale of the last tranche of a total perimeter of 22 photovoltaic plants to Mareccio Energia, a platform for the aggregation of assets in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, through the vehicle company Italia T1 Roncolo, has been signed
  • Total capacity of the plants subject to closing equal to 1 MW
  • Net collection of the fourth tranche for TerniEnergia of approximately Euro 0.4 million
  • Total value of the transaction (Enterprise Value) of approximately Euro 2.7 million
  • The transaction involves the assumption by the buyer of financial debts related to the plants for approximately Euro 1.8 million
  • The transaction was carried out as part of the Recovery and Relaunch Plan of the TerniEnergia Group

 

TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, following the press releases issued,on 16 May 2019, on 6 June 2019, on 13 november 2019 and on 23 december 2019, to which reference is made, announces that a last tranche of 2 photovoltaic plants in Italy with a total installed capacity of around 1 MW, of the total perimeter covered by preliminary contracts represented by 22 photovoltaic plants with a total installed capacity of 19.3 MW, was closed for sale (by TerniEnergia itself, also through subsidiaries). The plants involved in the transaction were sold to the vehicle company Italia T1 Roncolo, headed by Mareccio Energia, a platform for the aggregation of photovoltaic plants in Italy of a leading investment fund, in partnership with the sponsor LCF Alliance.

In particular, the company Guglionesi S.r.l., joint venture between TerniEnergia and Sifip S.r.l., was sold. The purchase price for 100% of the SPV is equal to approximately Euro 0.9 million, corresponding to the Equity value determined at the reference date of June 30, 2018 (Enterprise value equal to approximately Euro 2.7 million). The transaction also provides for the assumption by the Purchasers of financial debts related to the plants for approximately Euro 1.8 million.

TerniEnergia was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, and by EnVent Capital Markets as financial advisor. Italia T1 Roncolo S.r.l. and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by Partner Roberto Pera, as legal advisor.

 

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 300 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.  

23Dec 2019
  • The sale of the third tranche of a total perimeter of 22 photovoltaic plants to Mareccio Energia S.r.l., a platform for the aggregation of assets in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, through the vehicle company Italia T1 Roncolo, has been completed.
  • Total capacity of the plants subject to closing equal to 4 MW
  • Net collection of the third tranche for TerniEnergia of approximately Euro 3.6 million (net of the Escrow account, equal to Euro 0.5 million)
  • Total value of the transaction (Enterprise Value) of approximately Euro 10.6 million
  • Part of the purchase price, equal to Euro 0.5 million, will be deposited into an Escrow account as a guarantee of Seller’s performance and indemnity obligations
  • The transaction involves the assumption by the buyer of financial debts related to the plants for approximately Euro 6.5 million
  • The transaction was carried out as part of the Recovery and Relaunch Plan of the TerniEnergia Group

 

TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, following the press releases issued,on 16 May 2019, on 6 June 2019 and on 13 november 2019, to which reference is made, announces that a second tranche of 4 photovoltaic plants in Italy with a total installed capacity of around 4 MW, of the total perimeter covered by preliminary contracts represented by 22 photovoltaic plants with a total installed capacity of 19.3 MW, was closed for sale (by TerniEnergia itself, also through subsidiaries). The plants involved in the transaction were sold to the vehicle company Italia T1 Roncolo, headed by Mareccio Energia S.r.l., a platform for the aggregation of photovoltaic plants in Italy of a leading investment fund, in partnership with the sponsor LCF Alliance.

The total price for the sale of the plants is equal to approximately Euro 4.1 million, corresponding to the equity value determined at the reference date of 30 June 2018 (Enterprise value of approximately Euro 10.6 million), while the net collection for TerniEnergia will be equal to approximately Euro 3.6 million (net of the Escrow account, equal to Euro 0.5 million as a guarantee of the Seller’s obligations and indemnity obligations, and then released upon fulfilment of certain conditions expressly established by the parties), which was paid in cash.

The acquisition contract has been madesigned after the establishment of 4 Newco, TE NC Apollosa S.r.l., TE NC Fratta4 S.r.l., TE NC Chieuti S.r.l. and EA NC Marsciano S.r.l. in which has been conferred the asset portfolio composed of n. 4 plants with a total capacity equal to about 4.1 MW owned respectively by TerniEnergia, the first three, and the company EnergiaAlternativa S.r.l., the remaining plant.

The transaction also provides for the assumption by the Buyers of financial debts related to the plants for about Euro 6.5 million.

By reference to the total perimeter of n. 22 plants, the sale of the company Guglionesi S.r.l., owner of n. 2 photovoltaic plants for a total of about 1 MW of installed power, remains to be concluded – by today’s date.

TerniEnergia was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, and by EnVent Capital Markets as financial advisor. Italia T1 Roncolo S.r.l. and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by Partner Roberto Pera, as legal advisor.

 

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 300 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.  

18Dec 2019

Reviewed the TerniEnergia Group’s economic and financial performance and the progress of the Recovery and Relaunch Plan: strong recovery of profitability and improvement of operations in the second half of 2019

Revenues for the half-year amount to Euro 11 million (Euro 11.2 million as at 30/6/2018)

EBITDA equal to Euro 0.3 million (Euro 0.7 million as at 30/6/2018) with Ebitda Margin at 3.1%.

EBIT equal to Euro -2.7 million (Euro -1.3 million as at 30/6/2018), Earnings before taxes (EBT) equal to Euro -4.4 million (Euro -3.6 million as at 30/6/2018)

Net result of Euro -3.3 million (Euro -3.5 million as at 30/6/2018)

Net Financial Position of Euro 66.7 million (Euro 65.2 million at 31/12/2018)

Shareholders’ equity equal to Euro 8.5 million (Euro 11.4 million at 31/12/2018)

 

The Board of Directors of TerniEnergia, a smart company listed on the Italian Stock Exchange’s telematic share market (MTA) and part of the Italeaf Group, approved today the half-yearly financial report as at June 30, 2019 and reviewed the ongoing implementation of the Recovery and Relaunch Plan.

 

ECONOMIC AND FINANCIAL TREND

The Board of Directors also reviewed the Group’s operating and financial position with regard to the progress made in implementing the Restoration and Relaunch Plan, the effectiveness of which was communicated to the market on September 30, 2019.  An assessment of the performance indicators, the state of progress of the integration of Softeco Sismat into the TerniEnergia Group (which will be completed by the effectiveness of the merger at the beginning of 2020) and an analysis of the trend of the operational and industrial turnaround and of the process of disposing of assets that are no longer core, shows a trend of significant improvement in the business. This positive evolution of the company’s performance, mainly driven by the growth of Softeco’s revenues in the second half of the year, is also characterized by a strong recovery in profitability and an improvement in operations. In particular, the business of the Group’s digital company, linked to the acquisition of multi-year contracts, is characterised by a traditional cyclical nature, which involves peaks in activity during the period of contractual expiry dates and lower load phases in the period of contract renewals or acquisition of new contracts. For the second half of 2019, Softeco’s EBITDA is therefore expected to grow to a higher level than in the previous year, which amounted to approximately Euro 3.2 million.

 

CONSOLIDATED RESULTS AS AT 30 JUNE 2019

It should be noted that the Half-Yearly Financial Report, approved today by the Board of Directors of TerniEnergia, does not yet include the effects of the debt restructuring agreements as part of the Plan pursuant to Article 67 of Royal Decree No. 67 of 16 March 1942 (the Recovery and Relaunch Plan and related Financial Agreement). These effects are mainly represented by:

  • the reclassification under non-current financial indebtedness of approximately Euro 52 million in payables to banks and bondholders, classified at June 30, 2019 as still current indebtedness;
  • the recognition of a gain in the income statement of approximately Euro 1 million, gross of the tax effect, resulting from the application from 1 July 2018 of lower interest rates on bank and bond debt.

Revenues amounted to Euro 11 million, -1.3% (Euro 11.2 million as at 30/6/2018). The expected and marginal decrease in revenues was caused by the lower load on the activities of the digital company Softeco, deriving from the process of acquiring new contracts and from participation in tenders for new orders, as well as the reduction in the number of employees compared to the same period of the previous year, whose benefits in terms of efficiency are already expected in the second half of the current year (314 employees on average in the first half of 2018, compared to 290 employees on average in the first half of 2019). For this reason, EBITDA amounted to Euro 0.3 million, decreasing compared to June 30, 2018 (Euro 0.7 million), with Ebitda Margin equal to 3.1%. As a result of the dynamics described above, a recovery in margins is expected in the second half of 2019.

The Net Operating Result (EBIT) is equal to Euro -2.7 million, with an increase in loss (Euro -1.3 million as at 30 June 2018), also due to higher amortisation, depreciation, provisions and write-downs of approximately Euro 3.1 million, compared to approximately Euro 2 million in the previous year. The Earnings before taxes (EBT) amounted to Euro -4.4 million (Euro -3.6 million as at 30/6/2018).

The Net result, equal to Euro -3.3 million, improved by 6.6% compared to Euro -3.5 million as at 30 June 2018.

The Net Financial Position is equal to Euro 66.7 million (Euro 65.2 million as at 31/12/2018), an increase due to the application of the recording of the financial debt relating to the Group’s leasing contracts in accordance with IFRS 16, for a total amount of approximately Euro 1.3 million.

Shareholders’ Equity amounts to Euro 8.5 million (Euro 11.4 million at 31/12/2018, -22.3%), also taking into account treasury shares held in portfolio, which amount to 1,012,998 (2.15% of the share capital).

 

Assets held for sale

Net income from assets held for sale, positive by Euro 0.3 million, includes the economic results of assets held for sale or disposal, such as the management of renewable power generation plants, the development and management of environmental plants (Cleantech) and financial assets relating to energy efficiency projects already completed. These assets have been classified as “held for sale” or “discontinued operations”, in accordance with the international accounting standard IFRS 5. The planned disposals are operations aimed at supporting the industrial turnaround project, as envisaged in the Recovery and Relaunch Plan. The EPC business unit remained substantially inactive during the year, with the exclusion of activities relating to the contract in Tunisia, as a result of the Company’s strategic transformation and pending the completion of the disposal processes. With reference to the EPC business unit, a provision of Euro 345 thousand was set aside in the six-month period ended 30 June 2019 to cover redundancy incentives, as reported in the press release issued to the public on 19 June 2019.

 

BUSINESS OUTLOOK

The management is strongly committed to the implementation of the Recovery and Relaunch Plan, the implementation of the strategic guidelines whose objective is to pursue the transformation of the Group into a “One Smart Company” and to overcome the current situation of financial tension. The next few months will therefore be decisive to complete the process of merger by incorporation of Softeco Sismat into TerniEnergia, giving the Company a new identity of “technological enabler”. Through this operation, it will be possible to build customer loyalty and open up new markets, allowing old and new customers of the company to access technological solutions aimed at optimally addressing the energy transition and digital transformation. It will thus be possible to propose services and solutions enhanced by the integration of digital, technological and information technology skills of Softeco Sismat and those of industrial, plant development, asset management in the renewable energy and environment of TerniEnergia.

The Plan, in particular, provides for the Group to focus on the industrial activities with the greatest added value, with an enhancement of skills in the integration of technology and models from the digitization, in all areas of business with the related changes in the way of working of the company and its staff, but also in the way of addressing customers with new opportunities to promote the offer through new services.

The management’s objective is to intercept growth for digital transformation and innovation projects in the ICT market, which is expected to continue to consolidate in 2020, reaching almost 31.5 billion euros, with the IT sector growing by 3.8% in one year, for a total expenditure of more than 24.2 billion euros, thanks to a renewed interest of companies especially for the software part (+6.3% compared to 2019), IoT (+19% in 2020), AI (+34% in 2020), AR and Virtual (+ 285.6% in 2020) and Big Data & Analytics (+7.8% in 2020). (source: Assintel Report 2020)

The Company envisages a decisive enhancement of the Group’s technological strengths, through the development and enhancement of the Consulting, Green Enterprise & City, Smart Mobility and Digital Energy business lines, mainly based on the activities currently carried out by Softeco. The integration of the two companies will allow a rapid reaction to the equally rapid evolution in the reference markets represented: (a) the entire energy value chain (digital energy), also by virtue of the transition of the energy sector towards distributed generation models, which involves an increasing weight in smart components in energy production, transmission and distribution networks; (b) the electrification and digitalization of transport and mobility; (c) the “intelligent” management of economic and environmental resources, urban policies, services and relations between people and methods of administration of territories, cities and communities (smart cities); the introduction of criteria of sustainability and efficiency in the use of resources by industry (circular economy).

The objective of the management is to develop alliances and partnerships with synergistic actors, i.e. with complementary skills, with which to deal with projects in new areas. To this end, the national territory will be strengthened in terms of the offer of products and solutions, and selections will continue to be made for implementation and for the technical-operational structure to meet the growing need for high professional standards.

The merger deed is expected to be signed by February 2020, once the additional statutory requirements required by law have been met. As provided for by Article 2501-ter, first paragraph, no. 6 of the Italian Civil Code, the Merger will take effect from the day following the date of the last registration of the merger deed with the competent Company Register, or from the first day of the month following the date of registration of the merger deed.

Considering that the Merger is expected to become effective in 2020, for accounting purposes, the operations of the Merged Company will be charged to the financial statements of the Merging Company as from the first day of the current financial year on the date on which the Merger took effect, and, therefore, as from 1 January 2020.

 

The Manager responsible for preparing the company’s financial reports, Filippo Calisti, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

 

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 200 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.  

03Dec 2019
  • The Merger by Incorporation was approved by the Board of Directors of TerniEnergia and by the Shareholders’ Meeting of Softeco
  • The strategic objective of the merger is to generate a “one smart company”, focused on the sectors with the greatest added value of digital transformation in energy, networks and energy efficiency, transport, mobility, environmental industry and smart cities, as well as technological and industrial activities in the energy sector.
  • The transaction envisaged in the Group’s Recovery and Relaunch Plan

 

The Board of directors of TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, and the Shareholders’ Meeting of Softeco Sismat Srl, meeting in extraordinary session, today approved the merger by incorporation (hereinafter also referred to as the “Merger”) into TerniEnergia of Softeco (a company wholly owned by TerniEnergia), by approving the relative merger plan drawn up pursuant to articles 2501-ter and 2505 of the Italian Civil Code and already made public pursuant to law.

The Merger is part of the industrial and strategic plan, already announced to the market with the press release issued by TerniEnergia on October 30, 2019 and with the Recovery and Relaunch Plan, whose effectiveness was announced on September 30, 2019. In particular, the Merger will launch the crucial phase of the Group’s industrial and operational turnaround, which aims to complete the process of strengthening the activities included within the scope of the “IT and Digital” segment, reducing the capital-intensive activities of the “Renewable Utilities” segment. In this way, it will be possible to create a “one smart company” with a core business strongly focused on activities with greater added value in smart energy and digital transformation for the sectors of grids and energy efficiency, transport and mobility, environmental industry and smart cities, as well as technological and industrial activities in the energy sector.

From an organizational point of view, it is believed that the merger will optimize the decision-making processes and improve the use and enhancement of resources and expertise currently existing in the merging companies which, by merging activities into a single legal entity, will lead to an improvement in management efficiency (corporate, accounting and administrative), the creation of synergies and the reduction of overall costs, avoiding the duplication of certain activities on two separate legal entities, with a consequent greater rationalization of costs.

The resolution of the Board of Directors of TerniEnergia, resulting from a public deed pursuant to Article 2505, paragraph 2, of the Italian Civil Code, will be published, once registered in the Company Register, on the website www.ternienergia.com, Investor Relations/Extraordinary Transactions section (where the documents relating to the Merger are already present), as well as made available to the public at the registered office and in the manner provided for by current legislation.

The merger deed is expected to be signed by February 2020, once the additional statutory requirements required by law have been met. As provided for by Article 2501-ter, first paragraph, no. 6 of the Italian Civil Code, the Merger will take effect from the day following the date of the last registration of the merger deed with the competent Company Register, or from the first day of the month following the date of registration of the merger deed.

Considering that the Merger is expected to become effective in 2020, for accounting purposes, the operations of the Merged Company will be charged to the financial statements of the Merging Company as from the first day of the current financial year on the date on which the Merger took effect, and, therefore, as from 1 January 2020.

 

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 200 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.  

14Nov 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, communicates that the digital company Softeco Sismat is a partner of the InGE project, coordinated by the City of Genoa and funded by the measure CEF – Connecting Europe Facility 2014-2020 aimed at promoting growth and competitiveness through infrastructure investments at European level.

The project received a contribution of approximately Euro 0.7 million, entirely financed by the European Union. The EU loan granted to Softeco amounts to Euro0.2 million. The objective of the project is the study and analysis of the ICT support structures for the realization of the intermodal node of Genoa Erzelli.

In particular, Softeco is involved in the analysis of innovative ICT services for intermodal transport to and from the Erzelli node, through the identification of appropriate MaaS (Mobility-as-a-Service) solutions.

The identification of technological solutions and ICT services aims to put the user at the centre of transport services, offering mobility solutions tailored to individual needs, simplifying access and use and connecting different transport systems. Other project partners are the Municipality of Genoa, the University of Genoa and the International Institute of Communications (IIC).

 

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 300 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.  

14Nov 2019
  • The sale of the second tranche of a total perimeter of 22 photovoltaic plants to Mareccio Energia, a platform for the aggregation of assets in Italy of a primary investment fund, in partnership with the sponsor LCF Alliance, through the vehicle company Italia T1 Roncolo, has been completed.
  • Total capacity of the plants subject to closing equal to 4.8 MW
  • Net collection of the second tranche for TerniEnergia of approximately Euro 2.7 million (net of the Escrow account, equal to Euro 1 million, and of the minority interests in the JV, equal to Euro 1.3 million)
  • Total value of the transaction (Enterprise Value) of approximately Euro 15 million
  • Part of the purchase price, equal to Euro 1 million, will be deposited into an Escrow account as a guarantee of Seller’s performance and indemnity obligations
  • The transaction involves the assumption by the buyer of financial debts related to the plants for approximately Euro 10 million, of which approximately Euro 4 million related to the JV
  • The transaction was carried out as part of the Recovery and Relaunch Plan of the TerniEnergia Group

 

TerniEnergia, smart company listed on MTA of Borsa Italiana and part of the Italeaf Group, following the press releases issued respectively,on 16 May 2019 and on 6 June 2019, to which reference is made, announces that a second tranche of 5 photovoltaic plants in Italy with a total installed capacity of 4.8 MW, of the total perimeter covered by preliminary contracts represented by 22 photovoltaic plants with a total installed capacity of 19.3 MW, was closed for sale (by TerniEnergia itself, also through subsidiaries). The plants involved in the transaction were sold to the vehicle company Italia T1 Roncolo, headed by Mareccio Energia, a platform for the aggregation of photovoltaic plants in Italy of a leading investment fund, in partnership with the sponsor LCF Alliance.

The total price for the sale of the plants is equal to approximately Euro 5 million (Equity value), while the net collection for TerniEnergia will be equal to approximately Euro 2.7 million (net of the Escrow account, equal to Euro 1 million, and the minority interests in the JV, indicated below, equal to Euro 1.3 million), which was paid in cash.

The acquisition contract was signed after the establishment of 2 Newco, EA NC SERRADEICONTI2 S.r.l., EA NC LEQUILE5E6 S.r.l. and into which the portfolio of assets comprising a total of 3 plants with a total capacity of approximately 2.9 MW owned by the company EnergiaAlternativa S.r.l. was conferred.

The purchase price of these plants is approximately Euro 2.4 million, corresponding to the equity value determined at the reference date of 30 June 2018 (total enterprise value of approximately Euro 8.7 million). Part of the purchase price, equal to Euro 1 million, will be maintained in an Escrow account as a guarantee of the Seller’s obligations and indemnity obligations, and then released upon fulfilment of certain conditions expressly established by the parties.

In addition, 2 plants with a total capacity of 1.9 MW conferred to the newco “SOLTARENTI NC PALMISANO PAPALE S.r.l., equal JV between TerniEnergia and Ferrero Elettra, were sold. The purchase price for 100% of the SPV is approximately Euro 2.6 million, corresponding to the equity value determined at the reference date of 30 June 2018 (Enterprise value of approximately Euro 6.6 million). The transaction also involves the assumption by the Purchasers of financial debts related to the plants for approximately € 10 million, of which € 4 million related to the plants held in the JV.

TerniEnergia was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, and by EnVent Capital Markets as financial advisor. Italia T1 Roncolo S.r.l. and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by Partner Roberto Pera, as legal advisor.

 

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 300 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.  

07Nov 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, met today for the first time since its appointment by the Shareholders’ Meeting held on 6 November 2019.

The Board of Directors, in compliance with the Code of Conduct published by Borsa Italiana and following the changes made to the members of the administrative body, carried out the self-assessment procedure, expressing a positive opinion on the adequacy of its size, its composition, the type and variety of skills and experience as a whole, its functioning and that of the Committees that will be set up within it. The Board of Directors also verified the existence of the independence requirements provided for by current legislation for its members (5 of whom 3 – Stefania Bertolini, Mario Marco Molteni and Paolo Piccini – possessing the independence requirements provided for by art. 148 ter of the Consolidated Law on Finance and those provided for by the Code of Conduct promoted by Borsa Italiana S.p.A.). As a result of this assessment, the existence of the independence requirements for the three directors qualified as independent is confirmed.

The Board appointed Director in charge of the Internal Control and Risk Management System, Laura Bizzarri.

The Chairman, Mr. Neri, was appointed Chief Executive Officer, with the conferral of powers of ordinary and extraordinary administration, with specific powers to personnel and the environment.

Laura Bizzarri, currently CEO of Softeco Sismat Srl, has been appointed executive director with broad powers of ordinary and extraordinary administration.

The Board of Directors also confirmed the establishment of the Control and Risk Committee, the Committee for Transactions with Related Parties and the Remuneration Committee within the Board, appointing, in the persons of Stefania Bertolini, Mario Marco Molteni and Paolo Piccini, the directors called upon to be members of each committee.

Director Mario Marco Molteni has been appointed Lead Independent Director.

The term of office is the same as that of the Board of Directors, i.e. until approval of the financial statements for the year ended at 31 December 2021. The curricula of the members of the above committees are available on the Company’s website at www.ternienergia.com.

On the basis of the information available to the Company, none of the Directors holds shares in TerniEnergia S.p.A., with the exception of Stefano Neri, who holds directly 125,697 shares and indirectly 19,867,102 shares in TerniEnergia S.p.A..

 

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 300 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.