PRESS RELEASE 5 OCTOBER 2020

Italeaf: the subsidiary algoWatt launches General Contractor activities for energy upgrading of buildings with 110% Superbonus

• Turnkey" and "zero cost" interventions will be carried out for the customers
• Focus on the establishment of renewable energy communities and collective self-consumption projects

Italeaf SpA, holding company, announces that the subsidiary algoWatt, GreenTech Solutions company listed on Borsa Italiana's electronic stock exchange (MTA), has launched the new activity of General Contractor for the restructuring and energy efficiency upgrades with the formula of the Superbonus and Sismabonus of 110%, as provided by the italian Relaunch Decree.

In particular, algoWatt will operate as a promoter of the requalification operation, having structured - with special framework agreements and contractual commitments - an operational network of specialists, firms, installers and financial and insurance partners and will coordinate the necessary factors for the realization of the intervention, guaranteeing a "turnkey" service.

As General Contractor and with a committed internal team, the company will be the sole point of contact for the customer and will directly follow the entire cycle of interventions: from the initial consulting service, related to the feasibility of energy efficiency upgrades and the choice of products and services, to the time schedule of the works, from budget management to the management of the site, up to the relationship with suppliers and the handling of all bureaucratic requirements, without burdening customers.

algoWatt will directly address to the property managers and to the other subjects involved by the Decree, operating mainly with the formula of "zero cost for the customer", acquiring the fiscal advantage thanks to the credit transfer instrument, but in case of particular needs it will carry out renovations also with the co-investment formula of the customer, where the project foresees interventions co-financed with Ecobonus (50%, 65%, etc.) or other facilitative formulas. algoWatt, as General Contractor, acquired the customer's tax deductions and converted into a tax credit for a corresponding amount, will access the right of subsequent transfer to financial, credit or insurance institutions, certifying that it meets all legal requirements (improvement of two energy classes, or seismic improvement, fairness of costs and compliance with minimum requirements, asseveration of the intervention and compliance visa).

The company's expertise in the energy sector will also be crucial to promote projects of self-consumption, even collective, of the energy produced by the establishment of the so-called "renewable energy communities", with the aim of improving energy efficiency and protecting the environment, reducing the use of fossil fuels. The Superbonus is also recognised for the construction of energy communities up to 200 kW. The benefits extended by the re-launch decree can also be accessed by condominiums that will form an energy community, obtaining the benefits of dedicated withdrawal of energy fed into the grid in addition to receiving discounts applicable on the components of the bill.

Stefano Neri, Chairman and CEO of algoWatt, stated as follows:

"We are entering into the segment of energy and seismic upgrading of real estate assets with the confidence that the measures envisaged by the Superbonus can be a driving force in terms of turnover and therefore margins for the Group. We bring to this new business a remarkable track record coming from the two companies that merged to create algoWatt. TerniEnergia has more than 400 MW of photovoltaic plants installed, the construction of the first Italian energy island equipped with storage systems, a consolidated ESCO activity and considerable experience on site; Softeco Sismat provides its technological skills and digital products for the building management, remote control and the emerging Energy Communities. We have structured a complete operational proposal, enhancing the ability to network with complementary partners and companies, considering that energy interventions such as the installation of solar systems or the implementation of digital solutions for energy efficiency need to be associated with other types of building works, such as the realization of the thermal coat or the works foreseen by the Sismabonus. Finally, algoWatt - with its identity as a greentech solutions company for the sustainable economy - intends to take up the challenge of the New Green Deal and actively participate in stimulating the recovery of our economy. By assuming the role of General Contractor in an emerging industry, thanks to fiscal benefits that we hope will become structural as announced by the Government, our Company will be able to fully exploit those skills aimed at pursuing the objectives of improving efficiency, reducing consumption and reducing environmental impact, becoming one of the industrial players in the implementation phase of incentives and fiscal measures such as Eco, Sismabonus and Superbonus".

This press release is also available on the Company website: www.italeaf.com

For further information please contact:
Claudio Borgna CFO – Italeaf S.p.A.
Email: borgna@italeaf.com

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, and at Milano.
The company controls the Greentech solutions company algoWatt, listed on the MTA of the Italian Stock Exchange, Skyrobotic, active 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. Italeaf holds, among others, a minority stake in Vitruviano LAB, a research center active in the R&D sector for special materials, green chemistry, digital transformation and cleantech.