Italeaf

News from Italeaf

16Jun 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the subsidiary algoWatt, GreenTech Solutions Company listed on Borsa Italiana’s electronic stock exchange (MTA), have signed the contract for the development of a solution for the management of the flexible on-demand Tele-Bus service operated by Miejskie Przedsiębiorstwo Komunikacyjne Spółka Akcyjna (MPK S.A.), a public transport operator based in Krakow (PL). algoWatt awarded the contract in a European tender and related selection process involving several other multinational providers.

The contract provides for the development of the platform for the management of the DRT public transport service, which includes the application for the planning, optimization and execution of the service by the operator, the app dedicated to the driver for the management of the trips and the app for the booking of the service by customers. The solution that will be provided to MPK is based on the PersonalBus platform, developed over the years by algoWatt, successfully used by many operators in Italy and recently renewed with the latest technologies.

The contract has a duration of 30 months of which 6 months for development and 24 months of operational maintenance for which algoWatt will use local operators.

MPK is one of the largest public transport operators in Poland and the choice of the solution implemented by algoWatt demonstrates the company’s leadership in the flexible mobility sector, providing a solid reference for a possible development of the foreign market.

10Jun 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the subsidiary algoWatt, GreenTech Solutions Company listed on Borsa Italiana’s electronic stock exchange (MTA), will present to the Italian financial and industrial community  on June 19, with a web conference starting at 11.00 a.m. (CET)  the new groundwater treatment in Nera Montoro (TR) and the liquid industrial waste remediation plant owned by Purify Srl, a 50-50 joint venture between algoWatt and ATP Projects & Constructions Srl.

It will be possible to subscribe to the free web conference by registering at the following URL: https://us02web.zoom.us/webinar/register/WN_Zzw5W_eYR6qE-4axWd9qQQ

The event, focused on the themes of Reclamation and industrial regeneration in the framework of the Green New Deal and the priorities related to the circular economy and digitization contained in the programs of the EU Recovery fund, will see the participation of the Secretary of State of the Ministry of the Environment, Roberto Morassut, and the extraordinary sub-commissioner to the water reclamation of the Ministry of the Environment, Stefano Vaccari.

05Jun 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the subsidiary algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA) have obtained two orders from a leading operator in the international railway sector. These are, in particular, the development of two SCADA systems (supervisory control and data acquisition systems) for diagnostics and maintenance on market platforms, in the railway sector, which is highly energy-intensive. The total value of the two contracts amounts to Euro 0.7 million.

algoWatt, as part of the planned activities, will have to develop specific functionalities and dedicated interfaces that can be used by the railway network manager in synergy, with economic advantages, on the traditional and high-speed networks, in commissioning and maintenance.

29May 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the Board of Directors) met today, resolved to postpone the approval of the draft financial statements and consolidated financial statements for 2019 to a date to be determined at a subsequent meeting.

The decision was taken in reason:

  1. of the resolution taken on 21 April 2020 by the Board of Directors of the subsidiary algoWatt S.p.A. (formerly TerniEnergia), main asset of the holding company, to postpone the approval of its draft financial statements and consolidated financial statements at December 31, 2019 to a date to be determined at a later Board of Directors meeting;
  2. obtaining a complete information picture in the light of the events after the end of the 2019 financial year and, in particular, the evolution of the ongoing epidemiological emergency, also taking into account the ESMA Recommendation of 11 March 2020 on market disclosure of the impacts of COVID-19 by listed issuers, and recent government business support measures. Specifically, the Board of Directors intends to verify the impacts of the COVID-19 emergency on the process of updating and finalizing the Recovery and Relaunch Plan already announced and the related Financial Agreement.
21Apr 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the Board of Directors of the subsidiary algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA) met today, resolved to postpone the approval of the draft financial statements and consolidated financial statements as at 31/12/2019 to a date to be determined at a later Board meeting.

The decision was taken in order to obtain a complete information framework in the light of the events after the end of the 2019 financial year and, in particular, of the evolution of the epidemiological emergency in progress, also taking into account the ESMA recommendation of 11 March 2020 on market disclosure on the impacts of COVID-19 by listed issuers, recent government measures to support businesses and the Richiamo di Attenzione n. 6/20 issued by Consob on 9 April 2020, also concerning the feasibility of industrial planning and the impact on impairment tests.

 

algoWatt (ALW), greentech solutions company, designs, develops and integrates solutions for energy and natural resource management in a sustainable and socially responsible manner. The Company provides management and control systems that integrate devices, networks, software and services with a clear sector focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt is the result of the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees located in 7 locations in Italy and investments in research and innovation for more than 12% of turnover, operates with an efficient corporate organization, focused on the following markets: Green Energy Utility: renewable energy, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, shared and on demand. Different markets, a single focus: sustainability. algoWatt is listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana S.p.A..

31Mar 2020

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the subsidiary algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA), following the press release issued on January 6, 2020, to which reference is made, has exercised its right to extend by a further 60 days the final date for the closing of the sale of 100% of the shares in NewcoEnergy Srl to Buttol Srl, operating in the high quality environmental services sector through a path of sustainable development.

The SPV NewcoEnergy Srl is the owner of the biodigestion and biomethane production plant under construction in Calimera (LE), of the areas and the related building under construction and the environmental authorizations.

The extension, in accordance with the preliminary contract, was decided due to the non-fulfilment of the condition precedent of successful completion of the obligations for the inclusion of the transaction in the Recovery and Relaunch Plan of algoWatt.

 

algoWatt (ALW), greentech solutions company, designs, develops and integrates solutions for energy and natural resource management in a sustainable and socially responsible manner. The Company provides management and control systems that integrate devices, networks, software and services with a clear sector focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt is the result of the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees located in 7 locations in Italy and investments in research and innovation for more than 12% of turnover, operates with an efficient corporate organization, focused on the following markets: Green Energy Utility: renewable energy, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, shared and on demand. Different markets, a single focus: sustainability. algoWatt is listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana S.p.A..

25Mar 2020

NAV of Euro 6.2 million. Ebitda equal to 147 thousand Euro. Net result equal to -316 thousand Euro

  • Revenues amount to Euro 1.1 million (Euro 11.8 million in the consolidated financial statements)
  • EBITDA of Euro 147 thousand (Euro 0.2 million in the consolidated financial statements)
  • EBIT is equal to 106 thousand Euro (-3 million Euro in the consolidated financial statements).
  • EBT amounted to Euro -316 thousand (Euro -4.8 million in the consolidated financial statements).
  • Net result of Euro -316 thousand (Euro -3.7 million in the consolidated financial statements)
  • Shareholders’ equity of Euro 13 million (Euro -1.5 million in the consolidated financial statements)
  • NFP of Euro 18.2 million (Euro 84.8 million in the consolidated financial statements)
  • NAV of approximately Euro 6.2 million; NAV per share Euro 0.36
  • Update of the financial events agenda

 

The board of directors of Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, approved today the half-yearly financial report as at 30 June 2019.

 

Financial highlights*

 

As at

30 June 2019

As at

30 June 2018

Change %

In Euro

Revenues

1,151,904

1,447,528

(20.4)%

EBITDA

147,385

529,616

(72.2)%

EBIT

106,484

246,145

(56.7)%

EBT

(316,726)

(147,269)

51.4%

Net result 

(316,726)

(147,269)

    115.1%

 

 

As at

31 december 2018

 

Shareholders’ Equity

13,037,531

13,354,259

n.a.

Net financial position

18,178,383

17,776,227

n.a.

* Half-Yearly Financial Report prepared in accordance with ITALIAN GAAP accounting principles

 

Italeaf’s NAV was Euro 6.2 million as at 30 June 2019 (Euro 5.5 million as at 31 December 2018); Nav per share Euro 0.36.

 

Postponement of approval of the 2019 financial report

The Board of Directors of Italeaf has therefore decided to postpone the approval of the separate financial report and consolidated financial statements at December 31, 2019 until a later date to be defined and in any case by 31 May 2020.

The reasons for this postponement are mainly based on the following considerations:

  • on 29 January 2020 the Board of Directors of the subsidiary algoWatt S.p.A. (formerly TerniEnergia), the main asset of the holding company, resolved to approve the draft financial statements and the consolidated financial statements at December 31, 2019 in a period between April 21 and 24, 2020;
  • in light of the worsening of the epidemiological emergency from COVID-19, the national public authorities have postponed the shareholders’ meetings for the approval of the financial statements to June 30, 2020 for the companies that wish to benefit from it and the Board of Directors deemed it appropriate to make use of this postponement, also in view of the preparation of the consolidated financial statements and the ongoing restructuring process.

The full version of the Half-Yearly Financial Report as at 30/06/2019 in English is published on the Company’s website www.italeaf.com and published on GlobeNewswire Intrado | Release Publishing.

23Mar 2020
  • Approved the 2018 financial statements and acknowledged the Group’s 2018 consolidated financial statements
  • The loss for 2018 will be carried forward
  • Acknowledgement of the guidelines of the Recovery Plan and the progress of the negotiations for the Financial Agreement

 

The Ordinary Shareholders’ Meeting of Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, was held on 23 March 2020 at the company’s headquarters in Narni (TR).

Resolutions

The Shareholders’ Meeting resolved in favour of all the items on the agenda, in accordance with the proposals described in the notice of call. The most relevant resolutions are described below:

  • The financial report for the year ended 31 December 2018 has been approved and the consolidated financial statements for the year ended 31 December 2018 has been acknowledged.
  • The Shareholders’ Meeting resolved to carry forward the loss for the year 2018 equal to Euro 14,449,706.00.
  • The Shareholders’ Meeting acknowledged the informative report offered by the Board of Directors on the contents of the recovery plan underlying the preparation of the financial statements for the year ended 31 December 2018.
19Mar 2020
  • The consortium led by the greentech company obtained a total financing of Euro 1.6 million, of which Euro 0.5 million as a share of algoWatt
  • An innovative IaaS (Infrastructure-as-a-Service) solution will be developed for the operation and optimisation of clusters of distributed energy resources for the provision of ancillary services to the electricity grid

 

Italeaf announces that the subsidiary algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA), will coordinate a new project on aggregators for the management of multiple production and consumption units, of Virtual Power Plant, able to provide both demand modulation (Demand Response) and balancing services.

algoWatt has, in fact, been awarded, as coordinator, funding under Action 1.1.5 of Por Fesr Sicilia 2014-2020 “Support to the technological advancement of enterprises through the financing of pilot lines and early product validation and large-scale demonstration actions”. The project, called PASCAL “Enabling Platform for Commercial Services for the Aggregated Management of resources in the eLettrico system”, has obtained a total funding from the Sicily Region from EU funds of about Euro 1.6 million, of which Euro 0.5 million as part of the activities carried out by the same algoWatt.

Thanks to the project it will be possible to pursue the development and validation of an innovative IaaS (Infrastructure-as-a-Service) approach for the operation and optimization of clusters of distributed energy resources for the provision of auxiliary services to the electricity grid. The approach is, therefore, fully within the paradigm of smart grids that exploit information technologies and telecommunications and focus on distributed intelligence to ensure greater flexibility and improvement in the management of the electricity grid.

The partners of the project, in addition to algoWatt, are Col Giovanni Paolo S.p.A., specialized in the realization of equipment for the electrical system, the innovative startup Sfera S.r.l., which offers services for the management of highly reliable and distributed grid infrastructures, and the Cometa Consortium, active in the ICT sector and, in particular, in high performance computing, such as HPC, Grid, Cloud and GPU Computing, which includes the Universities of Catania, Messina and Palermo, the National Institute of Astrophysics (INAF), the National Institute of Nuclear Physics (INFN), the National Institute of Geophysics and Volcanology (INGV) and the S.C.I.R.E. Consortium.

 

algoWatt (ALW), greentech solutions company, designs, develops and integrates solutions for energy and natural resource management in a sustainable and socially responsible manner. The Company provides management and control systems that integrate devices, networks, software and services with a clear sector focus: digital energy and utilities, smart cities & enterprises and green mobility. algoWatt is the result of the merger of TerniEnergia, a leading company in the renewable energy and environmental industry, and Softeco, an ICT solutions provider with over 40 years of experience for customers operating in the energy, industry and transport sectors. The company, with more than 200 employees located in 7 locations in Italy and investments in research and innovation for more than 12% of turnover, operates with an efficient corporate organization, focused on the following markets: Green Energy Utility: renewable energy, digital energy, smart grids; Green Enterprise&City: IoT, data analysis, energy efficiency, building and process automation; Green Mobility: electric, shared and on demand. Different markets, a single focus: sustainability. algoWatt is listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana S.p.A..

 

17Mar 2020

Italeaf, a holding company active in the cleantech and smart innovation sectors, listed on Nasdaq First North, announces that in order to facilitate the participation of shareholders at the Shareholders’ Meeting called for March 23, 2020, the record date – previously set for March 12, 2020 – has been postponed to today’s date of March 17, 2020.

Attached is the notice to convene the Shareholders’ Meeting, duly amended.