Redelfi signs EUR 5 million loan agreement with Anthilia Capital Partners to develop Green Business Unit

Read the press release in PDF format here (in Italian)

REDELFI SIGNS EUR 5 MILLION LOAN AGREEMENT WITH ANTHILIA CAPITAL PARTNERS FOR DEVELOPMENT OF GREEN BUSINESS UNIT

The financing will support the Group’s Business Plan and will be used to consolidate its position in the Battery Energy Storage System (BESS) market and to build Renewable Energy Communities (RECs)

Milan, April 14, 2023

Redelfi S.p.A. (“Redelfi” or the “Company”) – a management company heading the Group of the same name with operational headquarters in Genoa – committed to the green and digital transition and listed on the Euronext Growth Milan segment of Borsa Italiana – and Anthilia Capital Partners SGR (“Anthilia”), announce that they have signed a loan agreement for a total of EUR 5 million which will be disbursed in full through the Anthilia BIT III and Anthilia BIT IV Co-Investment Funds, aimed at the completion of the Group’s Business Plan (the “Business Plan”) – disclosed to the market on November 2, 2022 – and in particular at the development of Redelfi Group’s Green Business Unit.

Redelfi operates in the field of the energy and technology transition and has more than 15 years of experience in renewable energy and innovation. Since 2008, it has been among the top Italian companies to focus on renewable sources to produce sustainable energy that is compatible with the needs of the environment. The growth of the Green Business Unit is based, as per the Business Plan, on BESS (Battery Energy Storage System) and CER (Renewable Energy Communities) projects.

BESS are battery storage systems that allow the grid to be stabilized by storing and releasing energy produced from renewable sources, which are nonprogrammable and unstable by nature. This instability is resolved by using batteries that store energy at peak times and then release it at times of underproduction, thus enabling a continuous power supply. BESS will also manage grid imbalances nationwide, becoming an infrastructure investment as well.

Redelfi currently operates in the U.S. market through local strategic partnerships and plans to build a 1.4GW BESS pipeline by 2027. This market has strong growth potential, still presenting itself in an embryonic stage.

Redelfi’s next goal will be to penetrate the Italian market, also at an early stage, by creating additional partnerships.

CERs, on the other hand, are associations created among residents, local governments, businesses and/or small and medium-sized enterprises for the purpose of producing and sharing energy from renewable sources in a limited geographical area.

CER development area in the Business Plan calls for the construction and operation of Renewable Energy Communities through the construction of photovoltaic plants of up to 1MW capacity each, which will generate energy for the benefit of communities. In detail, the loan fully underwritten by the Anthilia BIT III and Anthilia BIT IV Co-Investment Funds, is for EUR 5 million, maturing in December 2027 and amortizing repayment through the payment of semi-annual installments with constant principal, following a 12-month pre-amortization period from the date of disbursement.

Davide Sommariva, Chairman of the Board of Directors of Redelfi S.p.A. commented, “We are proud that a major entity like Anthilia has embraced our values and model, allowing us to go even further. Thanks to the underwriting of this financing, the strong acceleration already undertaken by our Green Business Unit will become even more exponential. This represents another huge step forward for our Group, which wants to concretely contribute to a healthier future for the environment and for new generations. Motivated by these values, we are indeed meeting the timelines and goals set and shared with the market, further confirming our perseverant and ambitious nature.”

Barbara Ellero, Partner and Head of Private Debt at Anthilia Capital Partners SGR commented, “We believe that putting our trust in the most viable and promising players within the renewable energy sector is a priority for our community today, even before reasons related to economic development. If we then consider the growth potential of the sector and the fact that Redelfi is a proven player with innovative and ambitious projects, we can understand the complete sharing of intentions between our companies. The 15 years of experience gained by the Group in the renewable energy sector translates into unique know-how and a strong ability to ground projects, thanks also to the excellent network of partners that Redelfi has created over time in Italy and the US. In addition, the green nature of the Group and its focus on ESG principles make Redelfi the perfect partner for Anthilia, which continues to support Italian SMEs that look to the future with a sustainable vision.”

As part of the transaction, the Issuer was assisted by IR TOP Consulting as an advisor to the transaction, while the legal aspects were handled by Attorney Pietro Paolo D’Ippolito of the DLA Piper law firm.

The transaction qualifies as significant pursuant to Article 12 of the Euronext Growth Milan Issuers’ Regulations as it exceeds the threshold of 25 percent, with reference to the countervalue materiality index.

This press release is available on the website www.redelfi.com, Investor Relations > Press Releases section and at www.1info.it.

***

Redelfi is the parent company of the Redelfi Group active in the digital and green transition through three Business Units operating in the Green, MarTech and GreenTech sectors. Each Business Unit adopts a highly innovative approach in defining products, services, and processes with a strong focus on compliance with ESG principles in business management. In the 2022 fiscal year, the Group achieved a Production Value of EUR 4.5 million and a Net Income of EUR 0.27 million. Its Net Financial Position was EUR 0.6 million and its Net Equity was EUR 9.3 million. In 2022, the Group made investments of approximately EUR 6.4 million.

Anthilia Capital Partners SGR is an independent Italian company dedicated to private capital and asset management, on behalf of institutional and private clients. Thanks to the specific skills of its Partners – all with significant experience in the asset management sector – the SGR has been able to establish itself in the sector since 2008, focusing distinctively on the values demanded by investors. With assets under management of more than EUR 2.5 billion, including more than EUR 800 million in private capital, – for total investments of more than EUR 1 billion – and leadership in the Italian small cap segment, its main investors include the European Investment Fund, Cassa Depositi e Prestiti, the Italian Investment Fund, and numerous European insurance and banking groups. Anthilia SGR is active in the management of open and closed-end investment funds, individual absolute return mandates, Eltifs and Pir alternatives, and in investment advisory. In 2022, as well as in 2018, Anthilia won the Private Debt Award, promoted by AIFI and Deloitte, for the “Development” category, dedicated to Italian SMEs growth projects; in 2021 the “Saccomanni” Award again for its contribution to the growth of Italian SMEs. Since 2018, Anthilia SGR has been an “Innovative SME.”

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Redelfi signs EUR 5 million loan agreement with Anthilia Capital Partners to develop Green Business Unit

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