algoWatt, GreenTech Solutions company listed on Borsa Italiana’s electronic stock exchange (MTA), following the press release issued on January 6, 2020, to which reference is made, announces that it has exercised its right to extend by a further 60 days the final date for the closing of the sale of 100% of the shares in NewcoEnergy Srl to Buttol Srl, operating in the high quality environmental services sector through a path of sustainable development.

The SPV NewcoEnergy Srl is the owner of the biodigestion and biomethane production plant under construction in Calimera (LE), of the areas and the related building under construction and the environmental authorizations.

The extension, in accordance with the preliminary contract, was decided due to the non-fulfilment of the condition precedent of successful completion of the obligations for the inclusion of the transaction in the Recovery and Relaunch Plan of algoWatt.