The amendment of the Recovery Plan provides for the launch of a new business plan, through the modification of the business model and a revision of the Company’s strategic and financial objectives. As part of this activity, strategic guidelines were defined, relating to the industrial activities of the new Industrial Plan 2023-2025.

In particular, the new strategic guidelines – drawn up with the consultancy of STAM Srl, a company specialising in high technology applied to energy, the environment, industry and automation – identify three high-level objectives, consistent with the Plan defined by algoWatt to emerge from the current state of financial tension, based on four drivers of industrial growth.

Thanks to the Recovery Plan, to the Financial Agreement and to the merger between TerniEnergia and Softeco, a new player is delivered to the capital market that exits definitively from the Utility sector and enters the Digital one, with the identity of GreenTech company: algoWatt. A new identity in line with the most attractive megatrends, which concern the pervasive digitalisation of all industrial sectors and the ecological and energy transition.

Thanks to the Restructuring Plan, the Financial Agreement and the merger between TerniEnergia and Softeco, is thus delivered to the capital market a new player that leaves the Utility sector and enters the Digital one, with the identity of GreenTech company: algoWatt. A new identity in line with the most attractive megatrends, which concern the pervasive digitalization of all industrial sectors and the ecological and energy transition.

Postponement of the approval of the 2022 financial statements for the update of the Restructuring Plan and Financial Agreement, and approval of new strategic guidelines.

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HIGH-LEVEL TARGETS

Leadership in the twin transition market (digital solutions for sustainability)

The energy sector is responsible for about three quarters of today’s greenhouse gas emissions and is the key to averting the worst effects of climate change. The Twin Transition assets and competencies (software solutions and associated services) are part of the company’s history. The portfolio of algoWatt’s solutions and services is characterised by a focus on energy and elements related to its management. Among the fundamental assets functional to the “Twin Transition” objective is algoWatt’s European and regional R&D project portfolio, which is strongly aimed at enhancing and innovating technology on the core themes of the Twin Transition itself.

From provider to partner

Starting from the assumption that in today’s market, a service provider is now regarded as a commodity (with the high risk of turnover), the transformation into a technology partner becomes essential to affirm the role of a company that becomes an integral part of the customer’s business. The markets of digital solutions for energy, environment and plants represent a fundamental part of algoWatt’s history, which has a characterising know-how and can represent a great added value for prospects and customers. algoWatt can also count on the added value, skills and track record of TerniEnergia Progetti, an asset to be leveraged to present itself as a partner with experience in the sector and the ability to make a supply chain in an excellent market moment for the photovoltaic sector.

Growth in the Digital Circular Economy

Environmental sustainability, and in particular the circular economy, are at the centre of the main European and national strategic agendas (Green New Deal, Circular Economy Package, National Strategy for the Circular Economy, PNRR, co-funded research and innovation programmes, etc.) with the consequent mobilisation of significant public-private investments to boost this sector as it is considered key to: i) achieving the 2030 and 2050 decarbonisation targets; ii) decoupling production from raw material consumption; iii) activating new business models. To date, the main focus has been on the development and industrialisation of technologies and less on digitalisation aspects related to both logistics and process automation. This opens up space for market expansion and diversification within the ‘digital circular economy’.

Strategic drivers

ACHIEVING FINANCIAL SUSTAINABILITY

Resolution of the financial tension as the main driver, through a negotiated revision of the Recovery Plan and the related Financial Agreement.

EPC E O&M WITH TERNIENERGIA PROGETTI

The operational re-launch of TerniEnergia Progetti will represent a key element of the strategy, allowing an increase in consolidated revenues and at the same time the possibility to achieve relevant stewardship and partnership agreements, functional to the change of the business model from provider to partner.

RESEARCH DEVELOPMENT & INNOVATION

algoWatt’s excellence in RD&I will be put at the service of the development of innovative solutions in the Twin Transition and Digital Circular Economy.

PORTFOLIO RATIONALISATION

Greater focus on the Twin Transition and Digital Circular Economy, with the consequent exploitation of opportunities for divestment or disposal of software platforms and contracts not in scope, as well as M&A opportunities through the use of treasury shares, amounting to approximately 2.15% of the share capital, to integrate into the Group realities possessing competences and skills capable of strengthening algoWatt’s technological offering.