July 2022 - Italgas.it

«Ideas 4 Italgas» Starting the third edition that introduces the permanent scouting formula: an ever-active ‘radar’ on open innovation

Posted on July 28, 2022 by adigiuseppe

Milan, 28 July 2022 – Reducing the time to introduce new technologies through interaction with an ecosystem that ensures a continuous flow of knowledge to support the achievement of the digitization, operational efficiency and the sustainability targets set in the Italgas 2022-2028 Strategic Plan. With this aim Italgas, the leading operator in Italy and the third in Europe in the natural gas distribution sector, is strengthening its collaboration with SkipsoLabs, a company that provides advisory services and technology platforms for innovation at an international level, through a new initiative dedicated to open innovation.

The initiative is part of the ‘Ideas 4 Italgas’ program launched by the Company in 2020 and addresses the best Startups and Scaleups from around the world with the aim of enhancing research activities and strengthening the contribution of innovation to the improvement of the Group’s performance.

There are two main features of the project: the Co-Innovation Hub and the SkipsoLabs ecosystem platform. The Co-Innovation Hub (an international network of incubators, accelerators, start-ups and scale-ups) will allow Italgas to monitor the innovation ecosystem and activate an Outpost in Tel Aviv, a hybrid presence within the Innovation Hubs in Israel. This strategic approach will enable the company to validate evolutionary scenarios through the innovation and agility of start-ups, fostering and strengthening their growth in the market. The technology platform, on the other hand, will enable the creation and management of Italgas’ innovation ecosystem by bringing together internal and external innovation in a single digital space capable of fostering the involvement of start-ups, employees and suppliers in innovation and digital transformation programs.

Compared to previous editions, the new research will be an ever-active ‘radar’ on technological and business innovations in the following areas: digitalization (cloud, edge computing and IoT devices), analytics and data management, operation & maintenance, network monitoring, metering, sustainability and circular economy, biomethane, hydrogen and synthetic gases.

In the digital transformation process, open innovation has been one of the main drivers of strategic development since the beginning. An approach focused on identifying solutions that can foster growth and sustainable development in daily operations, for the partners involved and the entire gas distribution sector. In many cases, collaboration with start-ups and SMEs has created the conditions for introducing innovation in other areas as well.

This is what is happening with Composite Research (CoRe), the young Italian start-up active in the sector of innovative materials, which presented ‘MadFlex’ at the 2020 call, a technology to create an ultra-light multilayer material capable of repairing gas grids quickly, durably and resiliently. After passing many stress tests at the Italgas laboratory in Asti, “MadFlex” is now being examined by the CIG (Italian Gas Committee) in order to obtain the necessary certifications for large-scale use by all companies in the sector and in the water distribution sector.

This is not the only case. With I-Tes, the large-scale application of special batteries capable of storing heat produced by other sources and reusing it in processes for feeding gas into the network is underway; software from the American company Satelytics will enable the monitoring of networks to be enhanced through the use of satellite images as well; With the Swiss company Amex Sanivar, a study is underway into the possible application of a special film inside gas grids that can make them immediately hydrogen ready; finally, the application of the Norwegian company Tunable will improve the analysis of the composition of distributed gas blends.

Pier Lorenzo Dell’Orco, CEO of Italgas Reti, commented: “Open innovation is a strategic approach that allows companies to grow faster, increase efficiency and, above all, think differently. In the journey of digital transformation that Italgas Group has undertaken in recent years, we have made extensive use of it. It is thanks to continuous scouting activities that we met companies such as Picarro, of which we also became shareholders, and its CRDS technology, the most advanced in the field of gas network monitoring. And this is how we have progressively created an open ecosystem capable of supporting the implementation of the Group’s Strategic Plan and the growth of our partners, as well as the evolution of the entire gas distribution sector.”

Carlo Soresina, co-founder and CEO of SkipsoLabs, added: “We are delighted to strengthen our partnership with Italgas through this innovation program dedicated to a key sector such as gas distribution. Today the ecosystem concept plays a central role in the innovation landscape. Our approach, which includes the involvement of the international network of the Co-Innovation Hub, the activation of a specific outpost in Tel Aviv and the technology platform, will facilitate the meeting of innovative start-ups from all over the world, connecting Italgas to a global innovation ecosystem. This is the right way to experience new evolutionary scenarios and to meet new market challenges”.

The project addresses international Startups and Scaleups (with focus on Europe and Israel) that develop products and services based on sustainable and original business models in line with Italgas’ strategy, and that will be able to offer solutions capable to meet the challenges posed by energy sustainability targets.

Interested startups will be able to register within the Italgas innovation ecosystem through the link https://ideas4italgas.italgas.it/en. The start-ups will be assessed by a committee of experts and, following a further selection process, will have the opportunity to work in close collaboration with the company to start the Co-design phase and define an experiment applicable to the sector.

Italgas

Italgas is the leading operator in Italy in gas distribution sector and the third in Europe. It manages a distribution network that extends a total of around 75,000 kilometers through which, during the last year, it distributed approximately 9 billion cubic meters of gas to 7.8 million users. The Group holds 1,899 concessions, with a historical presence in the country’s major cities including Turin, Venice, Florence, and Rome.

SkipsoLabs

Founded in 2008, SkipsoLabs is a company that provides software solutions and advisory services for innovation. Starting with the ambitious goal of creating a platform to support and accelerate sustainable innovation worldwide, over the years SkipsoLabs has become one of the leading international players in innovation management, offering cutting-edge programs to companies, universities, government agencies, accelerators and non-profit organizations worldwide. SkipsoLabs’ advisory services help clients identify the best innovation sourcing channels globally, define the right approach to validate and scale products and solutions both within their organization and in the marketplace. SkipsoLabs has an established framework to help identify strategic acquisition or partnership opportunities, to rank innovation and to engage internal management.

Medea (Italgas Group) becomes a 49% shareholder of Energie Rete Gas

Posted on July 26, 2022 by adigiuseppe

Milan, 26 July 2022 – Medea S.p.A., an Italgas Group company 48.15% owned by the Marguerite II fund and active in the gas distribution in Sardinia, today signed an investment agreement with Energetica S.p.A. for the entry into the capital of Energie Rete Gas S.r.l., the gas transportation company of the Energetica Group with around 142 kilometers of regional methane pipelines.

Entering Energie Rete Gas’s share capital is the result of a mixed operation of transfer and sale of a business unit which includes the assets and activities managed by Medea in the gas transportation sector in Sardinia. These assets mainly consist of 63 cryogenic liquefied natural gas (LNG) tanks for a total capacity of 2,350 cubic meters and the related equipment serving the distribution networks managed in the Basins under concession.

The enterprise value attributed to the business unit transferred by Medea is equal to 53 million euros, against a 49% stake in the capital of Energie Rete Gas and a monetary consideration of 30 million euros.

The closing of the transaction will take place upon the occurrence of certain conditions precedent, including the successful completion of the notification procedure pursuant to Legislative Decree 21/2012 and Prime Ministerial Decree 179/2020 (Golden Power) and the finalization of the financing agreements with a pool of banks by Energie Rete Gas.

The transaction will further accelerate Sardinia’s methanization process and, at the same time, will also allow Medea to rationalize the plant equipment managed in Sardinia by separating, also at a corporate level, the natural gas transportation and distribution activities.

Italgas: consolidated results as at 30 june 2022 approved

Posted on July 25, 2022 by adigiuseppe

Milan, 25 July 2022 – Italgas’ Board of Directors, chaired by Benedetta Navarra, met today and approved the consolidated results for the first half of 2022.

Key figures

Consolidated economic and financial highlights:

Total revenues: € 707.4 million (+6.3%)
Gross operating margin (EBITDA): € 513.3 million (+4.9%)
Operating profit (EBIT): € 296.0 million (+5.9%)
Adjusted net profit attributable to the Group: € 188.3 million (+6.9%)
Technical investments: € 374.4 million
Cash flow from operating activities: € 459.5 million
Net financial debt (excluding the effects pursuant to IFRS 16): € 5,033.4 million
Net financial debt: € 5,094.4 million

ESG – key indicators, Scope 1 and Scope 2 and energy consumption:

Net energy consumption: 301.5 TJ (-14.0%)
54.7 10³tCO₂eq Scope 1 and 2 (-21.3%)
47,667 km of network inspected (+35.4%)
Fugitive emissions/km investigated: 49.02 Sm3/km (-43.7%)

Operating highlights (including affiliates):

Municipalities in gas distribution concessions: 1,899
Number of active meters: 7.75 million
Gas distribution network: around 74,788 Km

The results of the Italgas Group for the first half of 2022 confirm the resilience of the business model, with a steady growth of all the main economic and financial indicators and the Group’s ability to match development with sustainability targets which were further revised upwards in the 2022-2028 Strategic Plan presented to the financial community on 15 June 2022.

An effort that confirms the Company’s commitment to providing an active contribution both to the energy transition process, whose urgency was increased by the targets set by the European Commission in REPowerEU, and to implementing the National Recovery and Resilience Plan.

In the period, € 374.4 million in investments were made, devoted primarily to the digital transformation of assets and processes, the natural gas distribution in Sardinia and the repurposing of the networks to enable them to distribute renewable gases (biomethane immediately and, in the medium term, hydrogen and synthetic methane).

In the first half of 2022, 230 km of new pipes were laid. In Sardinia, the creation of new fully digital networks continued, reaching a total length of 909 km out of a total to be developed of around 1,100 km. In addition, in the first half of 2022, 11 new GNL storage and regasification plants were commissioned, for a total of 64 plants serving the basins under concession.

The financing requirements related to net investments for the first half of 2022 were amply covered by the cash flow from operating activities, equal to € 459.5 million.

The net financial position as at 30 June 2022 was € 5,094.4 million (€ 4,980.0 million as at 31 December 2021). The net financial position amounted to € 5,033.4 million (€ 4,910.0 million as at 31 December 2021), net of financial liabilities pursuant to IFRS 16 of € 61.0 million (€ 70.0 million as at 31 December 2021).

The EBITDA for the first half of 2022 amounted to € 513.3 million (+4.9% compared to 30 June 2021) and adjusted net profit attributable to the Group was € 188.3 million (+6.9% compared to 30 June 2021).

In the context of the public tender called by the Greek government for privatisation of the gas distribution operator DEPA Infrastructure S.A, Italgas is waiting to finalize the acquisition of 100% of the Company.

Paolo Gallo, CEO of Italgas, commented:

The results of the first half of 2022 provide additional confirmation of the soundness of a Group capable of continuing to grow without interruption, despite a scenario featuring increasingly complex economic-social and geopolitical conditions.

We have reached the first turning point of the year recording growth in all economic indicators: the EBITDA grows by 4.9%, surpassing € 513 million and the adjusted Net Profit at +6.9% came to approximately € 188 million. Investments, exceeding € 370 million, have been used to digitally transform the network, which is increasingly smart, widespread and flexible, serving the energy transition and the decarbonisation of consumption.

In Sardinia, we are continuing with our commitment to complete distribution of natural gas in the areas under concession. The smart network, which covers approximately 1,500 kilometres, is now the most cutting edge network in the country, both because it is already capable of accommodating renewable gases such as biomethane and hydrogen, and because procurement is guaranteed solely through liquefied natural gas.

Technological innovation is confirmed as the main driver that allowed us to anticipate this change, transform our operations and improve service in terms of quality and efficiency while, at the same time, achieving ever-increasing sustainability targets, significantly contributing to the achievement of the REPowerEU targets.

Italgas improves the rating assigned by Moody’s ESG Solution

Posted on July 4, 2022 by adigiuseppe

Milan, 4 July 2022 – Italgas informs that the annual revision of the ESG rating Moody’s ESG Solutions (formerly known as Vigeo Eris rating), recognized the commitment of the Company with an “Advanced” rating, resulting from an overall improvement of 10 points compared to the result assigned last September. Progress mainly determined by the actions carried out and the further commitments undertaken by the Group in the environmental, social and governance fields.

The rating improvement is a further recognition of the Company’s strong focus on sustainability targets that the 2022-2028 Strategic Plan, recently presented to the market, has revised upwards (-34% in Scope 1 and 2 gas emissions, -30% in Scope 3 emissions, -27% in energy consumption by 2028, baseline 2020).

This recognition follows the confirmation of Italgas as a “constituent” of the MIB ESG Index, the blue-chip index for Environmental, Social and Governance (ESG) best practices of Borsa Italiana, part of the Euronext group.