Genoa, 27 May 2022 – EdiliziAcrobatica S.p.A. (“Company” or “EDAC”), the parent of the group of the same name, specialised in construction such as maintenance and renovation of buildings and other architectural structures using double safety ropes, listed on the Euronext Growth Milan stock exchange (ticker symbol EDAC) and on Euronext Growth Paris (ticker symbol ALEAC), is investing in new technologies and in particular in clean energy production, formalising its investment in NewCleo Ltd (newcleo). The company’s Board of Directors approved the investment of €200,000 in the startup newcleo. Established in 2021 by a group of Italian nuclear engineers and physicists, newcleo is active in the nuclear energy sector, has its registered office and relative headquarters in London, a research centre in Turin and operations in France. The aim of the startup is to build a full-scale non-nuclear prototype of a fourth-generation lead-cooled fast reactor (LFR) in Brasimone, Italy, at an ENEA laboratory, and the first industrial nuclear prototype of a 30 MWe LFR in the United Kingdom or France.
In exchange for this investment the Company will receive 133,333 shares of newcleo (with a unit value of €1.50) newly issued by 30 June 2022 and having the same dividend entitlement and rights as those currently in circulation.
Approved by the Board of Directors of EdiliziAcrobatica S.p.A., the investment was also approved in light of the fact that the majority shareholder of EDAC, Arim Holding Sarl, will in turn make an investment in newcleo due to the important possibilities for development and growth outlined in the startup’s presentation and its ambitious objectives in terms of sustainability: to develop an industrial chain capable of managing a new form of energy use from nuclei to bring humanity to zero emissions by managing global warming and positioning this technology as the safe, clean and renewable energy of the future.
Riccardo Iovino, CEO & Founder of EdiliziAcrobatica S.p.A., commented that “EdiliziAcrobatica S.p.A. has long espoused policies aimed at protecting the environment, which it considers the most precious asset of every human being. The technique of using double safety ropes, eliminating the need for scaffolding and consequently their production and corresponding mining processes that have a high impact on the environment, makes us an absolutely sustainable business. But this is no longer enough. On 15 May Italy marked Overshoot Day 2022, the day that represents the exhaustion of energy produced from renewable sources for the current year. It goes without saying that the current situation has underscored our country’s urgent need for energy independence, forcing an acceleration in the processes of energy production, especially those that do not impact on the environment such as new-generation nuclear power. In light of this, also in order to make a concrete contribution to an increasingly sustainable and peaceful development, EdiliziAcrobatica has chosen to support newcleo in such a crucial phase of its growth”.