Following the news that Azimut Libera Impresa SGR, through its Infrastructure and Growth Fund-ESG (IPC) and the assistance of law firms Orrick, Bird&Bird, and Finage Group, has decided to invest 50 million euros in the startup FastWay, the company’s shares have risen on the stock market and today mark almost a 1% increase.
Summary
Azimut’s investment in FastWay raises the value of the stock
FastWay obtained the funds in order to build an incredible number of charging stations for cars and motorcycles following the green shift in countries around the world.
Forecasts regarding the spread of electric vehicles that require this type of infrastructure are continuing to grow from the current 300,000 to more than 5 million by 2030.
The company, which was founded by engineers Paolo Esposto and Carlo Mereu, managers with widespread experience in the energy and electric mobility sector, will administer and manage the launch of the initiative, the development and management of the charging network, while CFO Serafino Marchio, is in charge of the financial aspects.
The stations will have charging power ranging from 50 to 400 kW so that EV drivers will experience the fastest and easiest charging possible, whether through the use of Plug & Charge systems or other, all with energy that comes strictly from renewable sources.
15,000 charging points over the next 10 years ranging between Fast recharging touching 150 kW and Ultrafast reaching 400 kW are the target of the business plan developed in the company.
Achieving these targets and numbers would make FastWay the largest independent operator with the most charging points in the Fast charging station segment.
It will be possible to use charging stations around Italy via an Rfid card or through a company-owned App that will allow access to the infrastructure even anonymously.
FastWay’s plan in Europe
FastWay will be advertised in Europe on every navigation system or app that exists for smartphones, tablets, watches or other devices in the hope of boosting the use of its stations and growing the desire for EVs and going green among Europeans so as to expand the business more and more.
Part of the earnings related to recharging will be paid to the municipalities and entities that provide the space to build FastWay’s charging stations so as to incentivize installation and generate a return for the real local economy.
10 of the 17 Sustainable Development Goals (SDGs) of the United Nations will be met precisely because of Azimut’s deal with FastWay.
Subscriptions total more than 450 million euros from 16 institutional investors through the IPC fund and include pension funds, social security funds, insurance companies and foundations.
The fund has approved transactions totaling about 700 million euros from January last year to date. In addition, 19 of these transactions have already been implemented for a value of about 550 million euros (education and training among the sectors touched).
Andrea Cornetti, managing director real estate and infrastructure at Azimut, revealed:Â
“We have decided to support and invest in the Fastway project because it will operate in an exponentially growing sector such as electric mobility and zero emissions which is an important and irreversible trend. An investment in line with the mission of our IPC Fund which simultaneously pursues the dual objective of building a more sustainable future and generating financial returns in line with the expectations of its investors.”
Paolo Esposto and Carlo Mereu, co-founders of FastWay, a key player in the transaction, said:
“We are at the beginning of the development of high-power charging in Italy: with FastWay we want to revolutionize the electric mobility sector by guaranteeing our customers the best possible charging experience, through a fast charging infrastructure, widespread where required by users and easy to use. With this operation, thanks to the contribution of the Infrastructure Fund for Growth – ESG (IPC), we will be able to electrify the country, realizing our ambitious plans in a very short time. And to do this, we are planning an important investment plan.”
Azimut shares on the stock market
The main index of the Milan Stock Exchange (FTSE Mib) rose a modest 0.7%, but Azimut posted the best performance in the index that encompasses the 40 listed companies with the largest capitalization and trading (80% and 90% of the entire stock market, respectively).
The investment company’s shares successfully tested 14 euros with an increase of 3.63%, closing at 15.18 euros.
The performance is the best among investment companies, second at a great distance was Banca Mediolanum, +0.88% and just below Fineconbank at +0.6%.
The rebound is the result of the green investment policies described above and a slight general rebound from which this sector has benefited.
