News from algoWatt

15Nov 2021
  • The transaction will be carried out through the acquisition of the shares of the SPVs owning the plants by a leading international investor in the photovoltaic sector.
  • The three agricultural companies are owners of agro-voltaic greenhouse plants for a total of about 4.6 MW.
  • Disposals will be carried out as part of algoWatt’s Redevelopment Plan
  • Closing expected by 30 November 2021


algoWatt, a GreenTech Company listed on the Euronext Milan market of Borsa Italiana, following its announcement on 16 May 2019, today signed a binding preliminary agreement to sell to a leading international PV investor, in partnership with sponsor LCF Alliance, the shares representing the entire share capital of three special purpose vehicles (SPVs), included among the divestments of algoWatt’s Restructuring Plan.

The consideration for the sale of the companies that own the three agrivoltage greenhouses, with a total capacity of approximately 4.6 MW, has been agreed at a total of approximately Euro 3.3 million. The closing of the transaction, which is expected to take place by 30 November 2021, is subject, among other conditions, to obtaining (where necessary) the approval of banks, in the form of a waiver, for the sale of the photovoltaic assets and other technical and financial conditions, typical of this type of transaction.

algoWatt was assisted by Grimaldi Studio Legale, as legal advisor, with a team coordinated by the Partner, lawyer Annalisa Pescatori, the purchaser and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by the Partner, lawyer Roberto Pera, as legal, tax and financial advisor.

13Sep 2021

The Board of Directors of algoWatt, GreenTech Solutions Company listed on the MTA market of Borsa Italiana, met today under the chairmanship of Stefano Neri, and appointed appointed Mr Paolo Piccini* as Chief Executive Officer (CEO), granting him executive powers. Paolo Piccini, 60 years old, with a degree in Electronic Engineering at the University of Genoa (Dept. of Informatics Systematic and Telematics), with over 30 years of experience in top management positions, including other executive positions. among others, in Olivetti, Marconi and Finmeccanica, was previously elected as a Board member by the Shareholders’ Meeting of the Company, held on 14 June 2018.

To the Chief Executive Officer are therefore given responsibility for the overall governance of the Company and the Group with powers of ordinary and extraordinary administration, with the attribution of corporate signature and legal representation, by resolution of the Board of Directors.

Following his appointment, the Board of Directors ascertained that the Director Paolo Piccini no longer meets the requirements of independence, as specified in the Code of Conduct of Borsa Italiana, and therefore qualifies as a non-independent executive director; as of today, he does not hold shares in algoWatt S.p.A..


The Chairman of algoWatt, Stefano Neri, on behalf of all the members of the Board of Directors, expressed his deep appreciation for the appointment of Mr. Piccini, stating: “We have completed the complex operation related to the approval of the Recovery Plan and the signing of the Financial Manoeuvre. The almost total debt relief of the Company and the new strategic positioning of algoWatt represent only the last steps of a path of industrial turnaround that has seen us engaged in a complex and challenging work. The preparation of a credible, solid and ambitious three-year plan that will lead us to overcome the financial tension at group level and lay the foundations for a strong re-launch of the business, has allowed us to obtain the consensus of all the parties involved in the re-launch manoeuvre, from investors to bondholders and banks. Today we believe that this phase is over and we are preparing for a new season of growth in the promising greentech solutions segment. We are doing so by entrusting the leadership of the algoWatt Group to a manager who can boast a very high level of experience, including international experience. The collaboration that Mr. Piccini has given in recent years to the company in the role of independent director, makes us confident that we have entrusted the future development of algoWatt in the hands of a manager with great human qualities and expertise necessary to meet the challenges of digital transformation, energy transition and efficient consumption of resources, sectors with high growth prospects in which our business will unfold in the coming years“.


Paolo Piccini expressed his satisfaction at being chosen as the new CEO and key figure in the implementation of the new Recovery Plan, adding that “the company’s decision to position itself in the key sectors of the European Green New Deal, which also represent the pillars underpinning the RRP, will represent a far-sighted and effective strategy. algoWatt will have to begin a new success story, which we will be called upon to accelerate thanks to our skills, the determination we will put into the execution of the Plan and our conviction in its strategic guidelines. We will face the challenges of digital transformation, the electrification of industry and mobility, the diffusion of technologies that reduce the consumption of resources and make processes more efficient, the analysis and use of data, and the interconnection of platforms and systems with enthusiasm and determination. We believe that greentech solutions represent the spillover point of an entrepreneurial vision that will be central to the national economic recovery and also decisive from the point of view of social impact in the fight against climate change and the establishment of a new green economy“. 


The complete curriculum vitae of Paolo Piccini is available on the Company’s website.



Paolo Piccini is currently Sole Director of Liguria Digitale, an in-house company of the Liguria Region for the development of digital strategy, a position he is relinquishing due to new professional commitments at algoWatt. He is President of the Digital Innovation Hub Liguria, as well as Director of the highly specialized Competence Center Start 4.0.

Paolo Piccini has a degree in Electronic Engineering from the University of Genoa and has 30 years of experience in the ICT, defence and security fields, gained in three major industrial groups: Olivetti, Marconi and Finmeccanica. In these companies he held top positions such as COO, General Manager and Managing Director, with full responsibility at income statement level.

Over the years, he has also gained an international profile by gaining significant business experience in the UK, USA, Russia, Turkey and the Middle East.

He has a deep knowledge of the public sector, in the fields of homeland security, critical infrastructure protection, logistics, defense, transportation, air traffic control, ICT, cyber security and smart cities.

10Sep 2021

algoWatt S.p.A., GreenTech Solutions Company listed on the Italian Stock Exchange (MTA), announces to have obtained the status of Authorized Technical Partner by Siemens Building Technologies Division, an initiative within the qualified partnership program wanted by the multinational leader in the design, production and implementation of supervision and control systems for technological systems and subsequent maintenance of these systems.

As an Authorized Technical Partner, algoWatt has demonstrated its expertise in the entire field of bulding automation systems, including the approvals and authorizations required by the regulations in force and so on.

required by Siemens to verify technical and professional suitability, as well as the ability to provide value to customers throughout the entire life cycle of the infrastructure, through services of application development, programming, commissioning and maintenance of software packages for different processes.

Within the scope of the partnership, Siemens and algoWatt will encourage collaboration and proactivity in the relationship. In this sense, improvement proposals put forward by the Technical Partner for the improvement of plant functionality, extension or integration of services on third party plants/equipment present on the site, as well as the possibility to explore the application of algoWatt solutions aimed at the market of efficient energy use and building automation technologies, will be taken into consideration.

This new status of algoWatt strengthens the partnership with Siemens and completes the company’s position as a highly qualified operator in the most technologically intensive sectors of automation systems, in terms of comfort, safety and energy efficiency of both new and existing buildings for residential, commercial and industrial use.

The recognition of algoWatt as an Authorized Technical Partner of Siemens testifies to the depth of our experience in Building Technologies,” said Massimo Mannori, General Manager of algoWatt. “This new recognition allows us to be even closer to our customers and to open new markets for our solutions as well, ensuring that our skills and technical processes meet the standards set by a leading partner in the sector and of international standing such as Siemens, whose quality standards we share as a company.

22Jun 2021

algoWatt S.p.A., GreenTech Solutions Company listed on the MTA market of Borsa Italiana, announces that, today, Mr. Stefano Neri, as Chairman of the Board of Directors and legal representative of algoWatt, duly authorised by virtue of the resolution adopted by the Board of Directors on 21 June 2021, and Ms. Monica Federici, as Managing Director and legal representative of the parent company Italeaf S.p.A., duly authorized by a resolution of the Board of Directors on 21 June, and Mr. Marzio Molinari, as sole representative of the subscribers of the bond called “Algowatt Tv Eur6m+1.5 Dc27 Amort Eur”, listed on the ExtraMOT PRO market, organized and managed by Borsa Italiana S.p.A., duly authorised by virtue of the resolution passed by the Bondholders’ Meeting on 30 April 2021 and in compliance with the provisions of the pactum de non petendo signed inter partes on 22 December 2020, on the other hand, signed the Recovery Agreement pursuant to Article 67, paragraph 3, letter d) of the Bankruptcy Law, consistent with the provisions of the Plan for the Recovery of the debt exposure of algoWatt and Italeaf and the rebalancing of their financial situation pursuant to Article 67, paragraph 3, letter d) Bankruptcy Law approved yesterday, 21 June 2021, by the Boards of Directors of the Companies.

This fulfilment is part of the activities resolved by the Board of Directors of the Company on 21 June 2021 and represents the first important step in the implementation of the commitments undertaken therein, aimed at achieving the completion of the Recvoery Agreement by the scheduled deadline of 9 July 2021. The effects of the signed Agreement shall be retroactive, in any case, to today’s date of June 22, 2021 (the “Effective Date”).

algoWatt is assisted by R&S Advisory S.r.l. as financial advisor and by Studio Legale Fallanca Scicolone & Partners, in the person of Marco Scicolone, lawyer, for legal advisory activities. Marzio Molinari of Studio Russo De Rosa Associati is the sole representative of the bondholders.

07Jun 2021
  • With the ER-BILLING suite, algoWatt provides a tailor-made solution for traders and resellers operating on the free energy market.
  • Accelerating time to market, integrating the customer’s business systems, reducing the cost of managing the invoicing process, enhancing customer value with vertical CRM and multi-channel management: these are the strengths of the invoice and metering platform


Energy R.Evolution BILLING (ER-BILLING), the new platform for the management of energy and gas billing and multi-utility business processes developed by algoWatt S.p.A., GreenTech Solutions Company listed on the MTA market, has been launched.

With this new suite, designed for the free energy market, algoWatt returns to the forefront of the “Invoice and Metering” digital products segment, where it has been active for 15 years, enriching the range of solutions dedicated to managing the business processes of multi-utilities, energy and gas traders and resellers.

Addressing an audience that requires accelerated time to market, thanks to data centralisation and vertical solutions, ER-BILLING allows easy integration with the corporate systems used by the customer, thanks to full interoperability, a constant and rapid regulatory compliance, pursuant to a dynamic, flexible and evolutionary architecture.

The platform is designed to manage every single step of the commodity billing process, putting the customer at the heart of the process, through dedicated and fully integrated verticalisations such as the CRM and the Ticketing module.

Its high configurability makes it the ideal choice for multi-utilities that want a solution tailored to their needs and that want to reduce costs and increase productivity through dedicated and integrated processes, such as the sales force management tools and invoice calculation simulators built into the solution.

Energy R.Evolution BILLING also enables dialogue with the authorities thanks to interfacing with the information systems of the various authorities (SII, ARERA, GSE, Terna, etc.), guarantees to accelerate the support process for billing, thanks to simulated billing scenarios, introduces Business flow 4.0 concepts with high automation of business processes and enables full compatibility with Cloud and on-premise infrastructures.

algoWatt puts the customer at the centre of the free energy market player’s process and with ER-BILLING provides the ideal answer to the need for integrated management of all contract types and reduction of billing costs.

10May 2021

The new solution reduces maintenance costs and optimises yields, also thanks to multispectral analysis by drones

 algoWatt S.p.A. , a GreenTech Solutions Company listed on the Italian Stock Exchange’s electronic share market (MTA), launches the new integrated digital platform ER-PAM (Energy R.evolution – Performance Asset Management), to guarantee a complete service for the maintenance and management of newly built or already installed and operating photovoltaic systems.

ER-PAM is a solution of the BU Green Energy Utility

ER-PAM is part of the algoWatt integrated solutions dedicated to the world of green utilities, operators in the renewable sector, managers of in-house control rooms or for the management of plant portfolios, EPC and O&M companies specialising in the management of maintenance processes, interested in the supervision, remote control and real-time monitoring of the performance and operation of photovoltaic plants.

The new integrated platform, perfectly in line with the growing trend of demand for digital energy solutions, for increasing plant energy efficiency, for increasing clean energy production and reducing emissions, is an algoWatt innovation that brings together the technological skills and experience gained in the field in over 10 years of EPC and O&M activities by the Group.

The functionalities of the new platform

ER-PAM makes it possible to reduce maintenance costs, optimise the performance of photovoltaic systems, centralise services, increase O&M and power generation performance, reduce intervention times and make field engineering more efficient. In a single platform accessible via the web, even on-site and with any device. The supervision of all types of plants guarantees the collection of field data acquired from heterogeneous SCADA systems, the calculation of plant and O&M KPIs thanks to algorithms based on tensor analysis for the predictive programming of maintenance operations. For Asset Management operators, there is the optimisation of maintenance activities and management of maintenance workers, the management of ordinary, extraordinary and predictive maintenance, the management of spare parts and spare-part warehouse (also with interface to existing external systems). The platform also integrates Document Management modules, such as administrative scheduling, standardisation of procedures and workflow. 

 Automated defect detection with multispectral drone analysis

Particularly innovative is the management of visual, thermographic, photographic and video inspections carried out by drones, thanks to the proprietary PV Inspector software for automated image processing, which allows the acquisition of digital data and the highlighting of critical aspects of the installations, such as hotspots, malfunctioning or underperforming panels and strings; accurately determines the location of panels in the plant; allows the acquired images to be graphically annotated to highlight the anomalies found, add text notes and finally automatically produce an inspection report that includes descriptive sheets of the anomalies detected; guarantees the monitoring of the evolution of defects and the correlation between defect and plant PR. 

O&M and On-Site engineering for utility scale solar plants

In addition to the design, development and marketing of innovative digital solutions, algoWatt also carries out all types of plant engineering, as well as ordinary and extraordinary maintenance on industrial-size plants, thanks to the expertise of its On-site Engineering team. The company has an impressive track record, accumulated over 10 years of experience as a system integrator and renewable asset manager. algoWatt provides O&M contracted services of plant (re)commissioning, quality control/inspection, monitoring and installation/retrofit, as-built design documentation, plant design review, efficiency services. Finally, the company offers plant check-ups for tailor-made revamping and repowering, carries out electrical and electromechanical works, mechanical assembly, civil works, optimisation of structures, revamping of inverter cabins and transformers, rewiring as well as implementation and installation of new monitoring systems.

12Mar 2021
  • Total funding of approximately EUR 1 million for a multi-service, cloud-based ICT platform for the recycling and reuse of bulky solid waste in the urban area of the Genoa metropolitan area
  • The research project will be coordinated by AMIU and will involve 8 industrial partners. The company will provide its know-how in the cleantech industry

algoWatt S.p.A., GreenTech Solutions Company listed on the Italian Stock Exchange (MTA), announces that the project “Efficacity – Intelligent and efficient optimisation of the process of reuse and collection of waste in urban areas”, coordinated by AMIU Genoa and in which the company is an industrial partner, has been financed.

The Efficacity project, with a total value of around Euro 2 million, received funding of over Euro 1 million from the 2020 call of the POR FESR 2014-2020 – Axis 1 – Action 1.2.4 – Poles of Research and Innovation. Support for the realisation of complex projects of research and development activities for the enterprises aggregated to the Poles of Research and Innovation, following the approval by Finanziaria Ligure per lo Sviluppo Economico – FI.L.S.E. S.p.A., a technical entity that supports and assists the Liguria Region and the other Ligurian territorial entities in the planning, definition and implementation of policies and interventions in support of the Ligurian economic system.

The algoWatt Research & Innovation team (share of the funding of approximately Euro 0.2 million), in partnership with the coordinator Amiu (Azienda Multiservizi e d’Igiene Urbana of Genoa) and 7 other industrial companies, will participate in the design and development of the management and planning system for the collection of bulky solid waste, data management for the optimisation of the loading of collection vehicles and the storage of bulky items, algorithms for the dynamic planning of collection missions. algoWatt will also be able to provide to the cluster of companies involved in the project with its know-how in the cleantech and environmental industry, based on its many years of experience in the management of resource recovery and material recycling plants.   

The Efficacity project proposes the study, development and validation of a multi-service and cloud-based ICT platform for multi-parameter optimisation of bulky solid waste collection and management in the Genoa metropolitan area. Complementary innovative technologies are applied for the recycling and reuse of bulky solid waste with a view to circular economy and environmental sustainability, favouring virtuous and self-sustainable dynamics in the already optimised standard process.

08Mar 2021
  • Total funding of EUR 1 million for a low environmental impact, customised and accessible travel planning solution
  • The company leads a partnership with Genoa’s public transport operator, 5 SMEs and some research bodies


algoWatt S.p.A. a GreenTech Solutions Company listed on the Italian Stock Exchange (MTA), will coordinate the GeTUP research project on sustainable mobility and MaaS (mobility as a service) solutions in the urban environment.

The GeTUP project, worth a total of Euro 2 million, has received funding of Euro 1 million from the POR FESR 2014-2020 – Axis 1 – Action 1.2.4 – Poles of Research and Innovation of the Liguria Region, following approval by Finanziaria Ligure per lo Sviluppo Economico – FI.L.S.E. S.p.A., a technical entity that supports and assists the Liguria Region and other Ligurian territorial entities in the design, definition and implementation of policies and interventions in support of the Ligurian economic system. The algoWatt Research & Innovation team, in addition to coordinating the project, will participate in the design and development of the MaaS system (part of the funding of approximately Euro 0.28 million), in partnership with the Genoa public transport operator, 5 SMEs and a number of research bodies.

The GeTUP project will study, realise at prototype level and experimentally validate in the Genoa area a MaaS platform model for trip planning with reduced environmental impact, personalised and accessible, according to advanced profiling systems, adapting to the user’s characteristics, offering incentives to stimulate behavioural changes.

10Feb 2021
  • algoWatt won the tender in association with a leading global technical and engineering consultancy company in the field of technology and innovation for the energy sector
  • Total consideration of approximately Euro 0.5 million for the re-engineering and consolidation of the WAMS (Wide Area Monitoring System) system, as part of the electricity system defence solutions
  • The contract concerns a technologically highly qualifying work area for one of the most innovative grid monitoring services and for a smarter and more sustainable power transmission


algoWatt S.p.A., GreenTech Solutions Company listed on the Italian Stock Exchange (MTA), announces that it has been awarded, in a temporary association of companies (ATI) with a leading global technical and engineering consultancy company in the field of technology and innovation for the electricity sector, the first lot of a tender for the “WAMS system re-engineering and consolidation service”.

The client is a leading company in the transformation of the electricity market towards European integration and the use of eco-compatible sources, and the awarding of the tender represents for the temporary association of companies (in which algoWatt is the principal) a highly qualifying industrial opportunity from a technological point of view, for one of the most innovative network monitoring services, as part of the evolution of a national electricity grid defence systems.

The total consideration for carrying out the work under the tender is a maximum of approximately Euro 0.5 million.

WAMS (Wide Area Monitoring System) is an extremely high-performance realtime system, the purpose of which is to increase the reliability of electricity transmission with a consequent reduction in the response time of countermeasures in the event of grid disruptions. The system acquires and processes the data collected by the PMU (Phase Monitoring Unit) measuring instruments located in the power stations.

The re-engineering of the service, as well as the revision and consolidation of a new architecture, are strategic for the provision of an increasingly smart and sustainable electricity transmission service, also in anticipation of a significant increase in the number of metering devices in the near future. This is due to the increasingly central role of the data acquired by PMUs in the real-time calculation systems supporting control room operators, and to the fact that the number of users requiring off-line WAMS data is increasing.

The WAMS system will also be involved in the processes of verifying the correct provision of the Fast Reserve service, aimed at improving the dynamic response of the electrical system in the first moments during frequency transients.

05Feb 2021

algoWatt S.p.A. , a GreenTech Solutions Company listed on the Italian Stock Exchange’s electronic share market (MTA), after examining the separate preliminary results (announced on 16 December 2020), also analysed the industrial results achieved during the 2020 financial year.

The results indicate a consistent advancement of the business, which reflects the preliminary figure of growth in the value of production (equal to Euro 18.9 million approximately +9%) achieved in full pandemic, compared to the corresponding value of the previous year. In particular, alongside the consolidation of economic and technological results achieved thanks to the improved and updated guidance with the merger between TerniEnergia and Softeco, algoWatt has laid the foundations of the pillars that will support the growth assumed in the business plan 2021-2024, currently being defined and approved.


Business Unit Breakdown

The Green Energy Utility BU consolidated its technological leadership in the remote control segment for the transmission and distribution networks of the main operators in the sector, improving the backlog of orders and the customer portfolio and increasing the contribution to the EBITDA margin. Tangible results were achieved with the new strategic and technological consulting service applied to the main innovative trends in the sector. Significant acceleration was given to the acquisition of skills and the activation of partnerships on energy storage, one of the key components for innovative projects aimed at the Smart Grid, the innovative Fast Reserve service (in which AlgoWatt has developed original and competitive support solutions for utilities), passing through the Capacity Market and the Energy Communities, and finally the Vehicle 2 Grid. Finally, the company has enhanced and innovated its historic position as a technological leader in renewable energy production, generating advanced asset management solutions in particular for the photovoltaic and hydroelectric sectors and for plant O&M.


The Green Enterprise & City BU has extended the scope of its solutions component to include leading and well-established customers in industry and the tertiary sector. It has begun to apply the proprietary solutions of the AI-Green line, based on the implementation of artificial intelligence technologies to environmental and industrial processes. algoWatt has made significant investments in training for the development of new solutions aimed at remote control of the railway sector, the most energy-intensive of all, which will begin to bear fruit in 2021. The pooling of the decades of expertise of Softeco and TerniErnergia has enabled the construction of a complete, modular and replicable proposal for the residential, tertiary, industrial and public administration sectors. To this end, a new consultancy service has been developed to identify the most suitable incentive tool to optimise the return on investment in energy efficiency and sustainability.

The Green Mobility BU has improved the margins of its products on its main customers, particularly in electric mobility and in the management of road fleets and port terminals and hubs. The optimisation of the offer aimed at local public transport has enabled the internationalisation of the proprietary, modular and scalable solution for on-call public services, for which algoWatt remains the leader in Italy. In addition, a complete commercial proposal has been prepared for the engineering and implementation of corporate electric mobility solutions. After the success of the Villa San Giovanni terminal for Caronte&Tourist, algoWatt is ready to replicate its experience in port ticketing and boarding, complementing it with the new requirements of “green” and sustainable ports. Finally, the BU is completing the definition of an offer for the innovative management of separate waste collection (“per use”) by vehicle fleets, according to the new European regulations and for the application of the punctual tariff.


The establishment of a specialised division to launch an offer dedicated to the emerging segment of energy and seismic upgrading of real estate, envisaged under the 110% Superbonus legislation, has enabled the development of a substantial pipeline of projects to be carried out over the next few years. algoWatt is confident that this new line of business will generate a significant contribution in terms of turnover and therefore margins for the Group, also thanks to the extension of the instrument until 2022 envisaged by the 2021 Budget Law.

The new Product Development unit launched a major overhaul of the product portfolio, with the implementation of a new cross-product and cross-market architecture, based on the most modern principles of modularity and reuse and, therefore, on the most innovative microservices technologies.

Thanks to the creation of dedicated task forces across the three BUs, they will be able to count on the skills and processes necessary to relaunch their System Integration and General Contractor activities in order to achieve the growth envisaged in the 2021-2024 plan.


Research & Innovation R&I activity is the driving force behind the company’s competitiveness and the enhancement of the creative capital of the business units, contributing to the realisation of the exponential technologies that make algoWatt’s proposition unique. Thanks to its consolidated ability to obtain funding for research projects through national and European calls for proposals, algoWatt is involved as a coordinator or partner in 18 multi-year projects with contributions of around 5 million euros.

In 2020, the contribution of technology transfer activities to the operating result was further consolidated through the signing of Technology Transfer Agreements, which made it possible to exploit internally developed know-how and expand the company’s range of products and services. Lastly, expertise in the virtuous use of subsidised finance has led to the creation of a task force capable of providing specialist consultancy services for the implementation of strategic projects for large-scale investments in energy, mobility and automation.