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EQS-News: Energy S.p.A. / Key word(s): Takeover/Acquisition
Energy S.p.A acquires 90% of Enermore S.r.l. and expands its business into Germany, Austria and Switzerland
2024-05-30 / 09:41 CET/CEST
The issuer is solely responsible for the content of this announcement.
Energy S.p.A acquires 90% of Enermore S.r.l. and expands its business into Germany, Austria and Switzerland
Enermore S.r.l. specializes in large-scale storage system installation and maintenance consultancy, design and control
and has a particular presence in the D-A-CH area.
CEO Tinazzi: "The acquisition brings with it many advantages, including the provision of greater engineering support to
the design and construction of medium to large plants, boosting the quantity and quality of services for our clients."

Sant'Angelo di Piove di Sacco (Padua), May 30, 2024 - Energy S.p.A. (the "Company" or "Energy"), an Italian leader in
storage systems for energy from renewable sources (BESS, Battery Energy Storage System), listed on the Euronext Growth
Milan market (ISIN Code IT0005500712, Ticker ENY), announces that on May 29, 2024, it has signed a preliminary
agreement to purchase 90% of the share capital of Enermore S.r.l, a company based in Sterzing (BZ) and held by a German
holding company, Natural Resources Holding AG.
Enermore S.r.l. specializes in storage system installation and maintenance consultancy, design and control.
The transaction is expected to close by the first half of June 2024. Following the closing, the governance of the
company - which will retain its current name considering the recognition it has achieved on the market - will be
entrusted to a Board of Directors, of which Energy S.p.A. will hold the majority.
In line with the company's growth strategy, the acquisition aims to strengthen the Energy Group's know-how regarding
the integration of storage systems into power generation plants, with the goal of extending the technical service
offering to the renewable energy sector supply chain.
The acquisition will take place in cash, based on an assessed Enterprise Value of Euro 2.2 million, net of the forecast
Net Financial Position of approximately Euro 1.2 million at the closing date of the transaction. Enermore S.r.l. for
2023 reported sales of Euro 3.8 million and EBITDA of Euro 0.5 million.
"The acquisition of Enermore S.r.l. brings with it many advantages: primarily, the Energy S.p.A. Group can now offer
more engineering support for the design and construction phases of medium to large plants, increasing the quantity and
quality of services for our clients" stated Energy S.p.A. CEO Davide Tinazzi "The geographic proximity to the D-A-CH
area[1] will facilitate communication and mutual understanding in the negotiation, planning and execution of complex
projects in the focus areas. An additional benefit is that Enermore is the bridgehead for our consolidation in the
D-A-CH market, where it has been present for many years both with significant projects and offering through its own
distribution network products that complement Energy's range of solutions. Finally, a further advantage is the ability
to provide control electronics and field (edge) software, complementary to the type of widespread (cloud) software
offered by EnergyInCloud S.r.l., which was acquired in 2023."
***
This press release is available on Energy S.p.A.'s website (www.energysynt.com) in the Investor Relations/Press
Releases section and on www.emarketstorage.com.
***
Energy S.p.A., founded in 2013 by Davide Tinazzi, Andrea Taffurelli and Massimiliano Ghirlanda and listed since August
1, 2022 on the Euronext Growth Milan market of the Italian Stock Exchange, is headquartered in the province of Padua
(Italy) and is an energy storage systems for both residential and large-scale applications sector leader. Our systems
allow energy to be stored and released according to customers' energy needs. Energy has to date sold and installed more
than 60,000 systems across the country, with a focus on the residential, commercial, industrial, utilities and electric
mobility markets. At December 31, 2023, revenues were Euro 63.3 million and net profit Euro 5.6 million. The biggest
projects executed include the large-scale plant in Comiso (Sicily), consisting of an agrivoltaic plant and a
photovoltaic field, the large-scale plant at the CAAB Centre in Bologna, the Smart Grids at numerous municipalities in
Sardinia and Lombardy and a Condominium Energy Community in Switzerland where individual hubs exchange energy as
needed. Energy's sales channels include both general electrical distributors and PV specialists, while the company also
works with large European EPCs. The proximity of Energy's logistics to the headquarters of major distributors has
allowed the company to establish strong partnerships with the Italian and European market players. The company
purchases components from major international suppliers and combines them with its "Zero CO2" proprietary software to
build EU standard compliant systems. www.energyspa.com
About Enermore S.r.l.. - With a staff of about 10, mainly engineers, Enermore S.r.l. designs the integration of storage
systems into power generation plants of different types, and particularly large plants. It technically assists various
renewable supply chain operators: developers, investors, large EPC (Engineering, Procurement and Construction),
companies, utilities and other contracting stations. The company has a particular presence in the D-A-CH area (Germany,
Austria, Switzerland), involved in both the integrated design and management of on-site installation and after-sales
maintenance activities, including the combination of lithium storage systems with other emerging technologies (e.g.,
hydrogen).
Contacts
Company
Energy S.p.A.
Tel. +39 049 2701296
investor@energysynt.com
IR & Corporate Media Relations Advisors International
TWIN Srl
Mara Di Giorgio
Tel. +39 335 7737417
energy@twin.services
IR- & Pressekontakt Deutschland
Fabian Lorenz
Tel. 0221 / 29831588,
lorenz@florenz-kommunikation.de
2024-05-30 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Energy S.p.A. 

Piazza Manifattura 1
38068 Rovereto TN
Italy

Phone:        +39 049 270 1296 
Internet:     https://www.energysynt.com/ 
ISIN:         IT0005500712 
WKN:          A3DRZU 
Listed:       Regulated Unofficial Market in Frankfurt, Munich, Stuttgart 
EQS News ID:  1914301 

End of News EQS News Service
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1914301 2024-05-30 CET/CEST

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END) Dow Jones Newswires

May 30, 2024 03:41 ET (07:41 GMT)