Italeaf: TerniEnergia and Susi Fund signed agreement for the sale of credits for € 1.2 million
PRESS RELEASE 8 JULY 2016Italeaf: TerniEnergia and Susi Energy Efficiency Fund signed an agreement for
the sale of credits for euro 1.2 million
* Through the transaction the two companies intend to develop new
opportunities opening of the capital market to the energy efficiency of
industrial scale
TerniEnergia, smart energy company active in the fields of renewable energy,
energy efficiency, waste and energy management, listed on the Star segment of
the Italian Stock Exchange and part of Italeaf Group, and a securitization
company controlled by Susi Partners AG, managing authority of the SUSI Energy
Efficiency Fund have signed today an agreement for the sale without recourse of
loans of approximately Euro 1.2 million, paid in cash, related to lighting
energy efficiency assets installed by TerniEnergia.
In particular, TerniEnergia operates as ESCOs (Energy Service Company) directly
and through the platform "Hub", a new strategic alliance formula between all
players in the energy industry to open up the sector to the capital market. Susi
Partners AG is an "investment advisor" with experience in the development of
sustainable energy infrastructure. Always engaged in supporting European
investment for the energy transition, even long-term, Susi Partners AG is also
active in the field of energy efficiency systems in Italy.
The agreement signed today provides for the sale, without recourse formula, of a
TerniEnergia's loan portfolio arising from private contracts. These credits will
be sold to a SPV, regulated under Italian law, related to Susi Partners AG as
part of a securitization of receivables ex L.130 / 99. The nominal value of the
receivables involved in the transaction is approximately equal to Euro 1.2
million.
The transaction will allow TerniEnergia to support the growth of the energy
saving activity, through the proposal to private companies and public entities
with high added value services for the design, implementation and management of
interventions to reduce energy consumption, in lighting areas (even with
proprietary technologies), heat, electricity supply and the plant consumption.
The credit portfolio sale agreement is conditional on the occurrence, by 3
September 2016, of a number of conditions including the finalization and signing
of all documents relating to the transaction by the previous Banks lenders of
the ESCo projects.
Mr. Stefano Neri, CEO of TerniEnergia stated:
"This is a strategic agreement for TerniEnergia, through the replication of the
structure of this sale and securitization to future contracts deriving from the
"Hub", it gives concrete and proof possibility to solve the main problem in the
development of energy efficiency, the difficulty of access to the capital
market. Thanks to the Hub, TerniEnergia represent itself as subject aggregator
of the player involved in the construction of energy efficiency intervention,
through a proper project risk management system and business plan assessment,
assuming the responsibility. What we look for are not final customers, but
energy service providers, from which we receive and which we remunerate services
and technologies to facilitate the convergence with the capital market,
aggregating and making critical mass".
Mr. Stefano Fissolo, Vice President of Susi Partners AG for Energy Efficiency,
stated:
"The energy efficiency fund promoted by SUSY plays the role of so-called "third
lender" in the contracts signed between ESCOs and end customers. The deal just
signed, our third in Italy, demonstrates how the SUSI team is able to evaluate
sizes and types of project normally rejected by investment funds, with the idea
to create a platform to catalyze new projects and then new investments. SUSI
Energy Efficiency intends to continue to invest in the Italian market for at
least the next eighteen months".
TerniEnergia recalls, finally, that it is ended a three-day roadshow for the
presentation of the HUB to the industrial communities of the sector energy
efficiency of the center-north Italy. After the presentation of Milan, which
took place in February, the company organized a series of events dedicated to
the ideal partners of this platform (ESCOs, engineering firms, installers,
manufacturers of technologies), which reached the cities of Rome, Turin and
Padua with three events dedicated to the creation of a network designed to solve
the difficulties of access to finance for energy saving interventions.
Heussen Law and Tax Firm, with a team led by Partner Luca Alberto Pagnotta, has
assisted the parties in the transaction definition and negotiation of the
contractual documentation.
This press release is also available on the Companies website: www.italeaf.com
and www.ternienergia.com and www.saceccav.it
Certified Adviser
Mangold Fondkommission AB is the Certified Adviser of Italeaf on NASDAQ OMX
First North.
For further information please contact:
Filippo Calisti
CFO - Italeaf S.p.A.
E-mail: calisti@italeaf.com
Mangold Fondkommission AB
Tel. +46 (0)8 5030 1550
info@mangold.se
Italeaf SpA, established in December 2010, is a holding company and a business
accelerator for companies and startups in the areas of innovation and cleantech.
Italeaf operates as a company builder, promoting the creation and development of
industrial startups in the fields of cleantech, smart energy and technological
innovation. Italeaf has headquarters and plants in Italy at Nera Montoro
(Narni), Terni, Milano and Lecce; has international offices in London and Hong
Kong and a research and development centre in the Hong Kong Science and
Technology Park. The company controls TerniEnergia, listed on the STAR segment
of the Italian Stock Exchange and active in the fields of renewable energy,
energy efficiency and waste management, WiSave in the "internet of things"
field, for the development and production of thermostats and smart technologies
for the remote control of electrical and heating items of buildings managed
through a cloud infrastructure, and Skyrobotic, in the business development and
manufacture of civil and commercial drones in mini and micro classes for the
professional market, Numanova, operating in the field of innovative metallurgy
and additive manufacturing and Italeaf RE, a real estate company.
PRESS RELEASE:
http://hugin.info/162089/R/2027500/753521.pdf
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Source: Italeaf S.p.A. via GlobeNewswire
[HUG#2027500]
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(July 8, 2016 - 7:20 AM EDT)
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