Enertronica, a company operating in the market segment of renewable energy systems, energy saving solutions, design and manufacture of electromechanical systems, announces that today, as already confirmed by the Press Release dating back to 3 November 2016, in advance with respect to the closing deadline (15 December 2016), it has executed the investment contract for the acquisition of 51% of Elettronica Santerno S.p.A., a Carraro Group company. The transaction has been formalised in the subscription by Enertronica S.p.A. of a dedicated capital increase of 2.250 million Euros.

Enertronica S.p.A. will also increase its shareholding by additional 9% by subscribing a further tranche of capital increase amounting to 1.0 million Euros within 31 December 2018. Santerno’s shareholder meeting has appointed the new Board of Directors, namely Vito Nardi, President and CEO, Enrico Gomiero, Alessandro Giudice, Tommaso Carraro, Paolo Plocco, Board Members, and the new Board of Auditors, namely Francesco Secchieri, President, Enrico Pernigotto and Angela Montanari, auditors in charge.

Vito Nardi, President and CEO of Enertronica S.p.A., commented: “Enertronica Group, having acquired Elettronica Santerno S.p.A., now covers the whole production chain in the field of renewable energy solutions in the electric sector, producing electric energy as an IPP, thanks to its proprietary PV plants from the Namibian companies and Enertronica SGR Srl, and selling energy to its final Clients via Smartutility S.p.A, going through EPC and O&M activities. The acquisition of Elettronica Santerno will let the Group conquer new markets, such as the production of VFDs for Industrial Automation, and will strengthen its presence in the sector of energy conversion systems in conjunction with smart grids and storage systems, also thanks to the R&D activities backed by the University of Cassino and to specific research projects of precompetitive development.”