ICQ Holding S.p.A. Receives €17M Equity Investment

ICQ Holding S.p.A., a Rome, Italy-based developer of projects in renewable energy and energy savings, has received a €17m equity investment from Ambienta I Rinnovabili S.r.l. (A1R), a subsidiary of Ambienta I, a private equity fund managed by Ambienta SGR).

To subscribe this capital increase in ICQ, A1R has opened up its capital to the Macquarie Group, Matsa Group S.r.l., and a pool of private investors.
€ 12m of the operation has already been subscribed, while a second tranche worth € 5m may be subscribed by 30 October 2011. When the operation is complete, the total investment of A1R will be € 37.5m, representing a 23.8% interest in ICQ.

As stated by CEO Luigi De Simone, the capital increase will allow ICQ to expand and consolidate the Group’s growth plans in renewable sources. “Our objective for 2012 is to achieve operating power of 250 MW (from the current 110 MW), over 600 GWh of annual production, and the development of an additional 400 MW in projects. When all this has been accomplished, the Group will seek listing”, De Simone said. 

Edo Ronchi, former Italy’s Environment Minister and current chairman of the Foundation for Sustainable Development, Elio Blasio, attorney-tax consultant and professor of corporate group business at the European University of Rome, and Paolo Trento, chairman of the Matsa Group, have joined the company’s board of directors, increasing its membership from seven to ten.

15/04/2010