Energy Group signs LOI with Austria’s Stadtwerke Amstetten for the supply of an innovative energy management system (EMS). 

Part of the deal is also a strategic commercial partnership, enabling access to Austrian market customers

Delivery by Q1 2025. CEO Davide Tinazzi: “This represents an important step in our expansion strategy in the DACH area and in supporting services towards the Public Administrations”.

Sant’Angelo di Piove di Sacco (Padua) / Amstetten (Austria), November 13, 2024 – Energy S.p.A., listed on the EGM segment (Ticker: ENY), leading the Energy Group, a manufacturer of all the hardware and software technology of the BESS (Battery Energy Storage System) systems and related services, such as cloud control and engineering support, announces that its subsidiary Enermore S.r.l. has received a binding Letter of Intent (LOI) confirming the award of a tender to supply and integrate an advanced energy management system (Energy Management System, EMS) and a 1MW/2,256kWh Battery Energy Storage System (BESS). The system will be installed at Stadtwerke Amstetten, a multi-service municipal company in Austria that provides the supply of electricity, water, gas, district heating, waste, and sewage management in the Amstetten region. The awarded tender has a value of Euro 700,000.

The agreement with Stadtwerke Amstetten also includes a commercial partnership that will enable Energy Group to expand its customer network in Austria, having access to the counterparty's customers, making its know-how available to offer high value-added solutions, with a focus on servitization and energy efficiency.

"Energy Group’s qualification to participate in the tenders held in Austria, following the award of the Asfinag tender, unlocks valuable strategic opportunities, allowing us to access a market in constant expansion," said Davide Tinazzi, CEO of Energy Group. “The cooperation with Stadtwerke Amstetten is a further recognition of our know-how. Thanks to this award we will be able to supply our technologies to a new and wider customer base in Austria, allowing us to create new synergies and consolidate our presence in German-speaking markets. Furthermore, through this partnership, we intend to strengthen our commitment to supporting public administrations and local communities, providing increasingly sustainable and innovative energy solutions."

The agreement represents a further step in Energy Group's expansion strategy in the DACH area (Germany, Austria, Switzerland), a market that, alongside the DUTCH area, has significant potential for the development of innovative energy infrastructures. The award allows Energy Group to consolidate its presence in Central Europe, strengthening the role of the subsidiary Enermore S.r.l. as a key provider of energy storage solutions whilst positioning the entire Group as a reliable partner for advanced and sustainable energy infrastructure. Aligned with the European Union’s energy transition goals, the  collaboration with Stadtwerke Amstetten will also help promote local energy stability through the integration of renewable sources and cutting-edge technologies.

The awarded tender includes the supply of a complete EMS system, designed to maximize energy efficiency through self-consumption, peak-shaving and energy trading functions on the open market. Energy's innovative integrated BESS system, with 1MW of power and a capacity of 2,256 kWh, will be able to support on-grid and off-grid energy management, including black-start operation. Enermore will collaborate with Stadtwerke Amstetten for the construction management, design and essential component integration. Delivery is expected by March 2025.

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This press release is available on Energy S.p.A.’s website at www.energyspa.com in the “Investor Relations/Press Releases” section, and on www.emarketstorage.com.  

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The Energy Group is a full system technology manufacturer and BESS (Battery Energy Storage System) leader for residential use and large-scale applications, and a provider of cloud and engineering services on the Italian and European markets.  The Group emerges from Energy S.p.A., founded in 2013 by Davide Tinazzi, Andrea Taffurelli and Massimiliano Ghirlanda, listed since August 1, 2022 on the Euronext Growth Milan market of the Italian Stock Exchange (ISIN Code IT0005500712, Ticker ENY), which was joined by EnergyInCloud Srl and Enermore Srl in 2023 and 2024 respectively. Energy has to date sold and installed more than 65,000 systems across the country, with a focus on the residential, commercial, industrial, utilities and electric mobility markets. In H1 2024, revenues amounted to Euro 19.1 million, with a result for the period of Euro -4.2 million. www.energyspa.com 

Contacts
Energy S.p.A.
Ing. Davide Tinazzi    
Tel. +39 049 2701296      
info@energyspa.com      

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