18 December 2020
Fondo Italiano d’Investimento, through FITEC and FITEC Lazio, invests in Termo, a digital platform for energy efficiency
- $10 million raised from multiple investors in 2020
- Supernova Hub, Mercurio Holding (Proximity Capital Group), Mediaset Group (through its subsidiary RTI) Alessandro Andreozzi , Gabriele Basile and Pierluigi Di Paolo participate in the capital increase
- Gabriele Basile appointed Chief Executive Officer
- Termo which operates in the field of installation and management of thermal systems and building renovations. Termo has simplified and digitalised services in this traditional and fragmented sector
Milan, 18th December 2020 – Termo (formerly Termostore) has raised $10 million in combined Series A and Series B funding. The company operates in the greentech sector, both as a tech-enabled HVAC (heating, ventilation, and air conditioning) systems installer and as a general contractor for home renovation and energy upgrading projects.
Founded in 2014 in Fondi (Latina), Termo is the first Italian company to offer a fully digital service platform for sustainable HVAC systems installation and maintenance for households. Termo allows customers to book an intervention of a qualified team of technicians to receive a turnkey service, timely, with transparency and with the opportunity to deduct any environmental tax credit directly from the invoiced amount. As of today, the company employs 84 people, with revenues doubling from $ 2.9 million in 2019, to about $ 6.0 million in 2020.
In 2020 Termo has launched two new business lines leveraging its competences in managing the environmental tax credits currently in place. Termo offers support in i) home renovation and energy efficiency improvement, as a general contractor, offering customers the opportunity to deduct the environmental tax credits directly from the invoiced amount and ii) in Business Process Outsourcing – “BPO” – on behalf of financial institutions, for the management of environmental tax credits generated by other general contractors.
FITEC and FITEC Lazio, current shareholders and other new investors, invested in total $10 Million in capital increase to boost the growth of the company.
Antonio Pace, CEO of Fondo Italiano d’Investimento SGR, said: “We are pleased to support the development of an Italian excellence in the Lazio region, one of the regions at the forefront of technology in Italy”.
Mauro Pretolani, Senior Partner of Fondo Italiano d’Investimento SGR, continues: “Termo is an innovative company that operates in a mature market with a tech-enabled approach. The sector is receiving a strong ecological boost driven by both the interest of consumers and the Italian government’s incentive policies. We believe that this sector will enjoy massive growth in the next couple of years also thanks to the leading innovative approach of Termo.”
Daniele Leodori, Vice-President of the Lazio Region, said: “This important investment will support the growth of a Lazio company operating in the greentech sector, a strategic area to which the Region is strongly committed, and which will be central to development in the coming years; a commitment that we intend to pursue and strengthen also with the next “Programmazione 2021-2027”, the programming of European funds. This is also a significant opportunity for the reindustrialisation and employment growth of a strategic geographical area in the entrepreneurial system of our territory“.
Alessandro Andreozzi, co-founder and Chairman of Termo, said: “thanks to this investment, we will be able to accelerate our growth plan to innovate in a key sector for the entire Italian energy efficiency plan. The new resources that will be supporting Termo, will enhance our growth capabilities, while continuously improving our services and the efficiency of our product offering”.
Federico Pozzi Chiesa, co-founder, CEO of Supernova Hub and board member of Termo, said: “We scouted this USD 10 billion market opportunity of digitalizing this mature market and co-founded Termostore to standardize and digitalize the process providing know-how and technological expertise to the entire sector. The capital raised will be used for growth and to further strengthen Termo’s competitive advantage”.
Gabriele Basile, CEO of Termo and co-investor, said: “I am pleased to participate, both as a manager and as an investor, to the first greentech initiative that integrates the Business Process Outsourcing for financial institutions linked to tax incentives, and the general contracting business in the field of home renovation and energy requalification. With Termo, we want to accelerate the process of energy consumption reduction for both residential and public buildings”.
Andrea Ciampalini, General Manager of Lazio Innova, said: “We are very pleased with this first investment by FITEC Lazio, that combines the opportunities of venture capital with the support offered by public funds.”
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Media Contacts:
Fondo Italiano d’Investimento:
Roberto Del Giudice
Fondo Italiano d’Investimento SGR
Tel. +39 02 63532.1
roberto.delgiudice@fondoitaliano.it
Lavinia Borea
LB Partners
Tel. +39 335 6583925
lavinia.borea@lbpartners.net
Termo S.p.A.
Ufficio stampa Supernova Hub – Termo
ddl studio | Via Compagnoni 3, Milano
Mara Linda Degiovanni | maralinda.degiovanni@dllstudio.net | +39 349 6224812
Irene Longhin | irene.loghin@ddlstudio.net | +39 392 7816778
FITEC and FITEC Lazio
FITEC, managed by Fondo Italiano d’Investimento SGR, with a target commitment of Euro 150 million, is the first tech growth fund that invests in small and medium-sized Italian enterprises. The investments target both companies already backed by venture capital funds and other financial investors, like Termo, Everli and BeMyEye, or owned by strong entrepreneurs, like SECO and Healthware Group.
FITEC Lazio is a parallel investment fund with a total commitment of Euro 18 million, co-financed by Regione Lazio, through Lazio Innova S.p.A..
Termo S.p.A.
Founded in 2014 in Fondi (Latina, Italy) and backed by corporate accelerator Supernova Hub, Termo operates in the following three business areas: commercialization and installation of energy efficiency systems, with a particular focus on HVAC products; general contracting for home renovation and energy efficiency improvement, allowing customers to have “green” tax incentives deducted directly from the invoiced amount; Business Process Outsourcing (BPO) for the management of the “green” tax incentives purchasing and discounting processes, currently used by banks with more than 2200 branches in Italy.Termo S.p.A.
Supernova Hub
Supernova Hub is the incubator of ITLM Group, which is led by Federico Pozzi Chiesa and controls the company Italmondo SpA, one of the leader companies operating in the Italian and international logistics services in the last 65 years. The Group has invested 10 million euros to date in 12 start-ups, including Supernova Factory, Sendabox, IoRitiro, Termostore, BorsadelCredito.it. Thanks to its exceptional digital expertise, its network of investors and business angels, and its successful investment model, Supernova Hub has created a group of integrated innovative companies that can interact, create synergies, and offer the highest performances.