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Italgas: Italy’s first plant for the production of green hydrogen directly connected to a city distribution network inaugurated in Sardinia

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  • Called Hyround, it is located in Sestu (Cagliari) and will supply users connected to the network, a fleet of public transport buses and the production process of a food industry.   
  • The Minister for the Environment and Energy Security, Gilberto Pichetto Fratin, attended the event.  
  • Italgas CEO Paolo Gallo: “Focus on research and development to accelerate the decarbonisation of consumption”. 

 

Sestu (Cagliari), 2 October 2025 – Hyround, Italy’s first green hydrogen production plant directly connected to a city gas distribution network, was inaugurated today in Sestu (Cagliari).   

Among those attending the ribbon-cutting ceremony were the Minister of the Environment and Energy Security, Gilberto Pichetto Fratin; the President of the Regional Council of Sardinia, Piero Comandini; the Mayor of Cagliari, Massimo Zedda; the Mayor of Sestu, Maria Paola Secci; the Chairman of Italgas, Paolo Ciocca; the CEO of Italgas, Paolo Gallo; and the CEO of Italgas Reti, Pier Lorenzo Dell’Orco.  

“Today, with Italgas, Sardinia and Italy are taking a leap into the future – said Gilberto Pichetto Fratin, Minister of the Environment and Energy Security -. This is the energy transition stepping out of textbooks and becoming an industrial and social reality. Hydrogen, the most widespread molecule in the world, is at the center of many projects, and our government believes in it. With the support of modern digital technologies, Sardinia is becoming a national and European laboratory of the tangible sustainability we constantly strive for, and which today Italgas, with the launch of the first residential hydrogen energy community, is making real”.  

By investing in the development of a green hydrogen production plant,” commented Italgas CEO Paolo Gallo, “we have chosen the future. This is not just about producing hydrogen, but about demonstrating that research and development are the key drivers to accelerate the decarbonization of consumption. Technological neutrality and the integration of new energy sources allow us to address the energy trilemma: security of supply, environmental sustainability, and cost competitiveness. Sardinia stands as a tangible example of this vision of the energy future—a future built on state-of-the-art gas networks, capable of accommodating renewable gases and complementing electricity grids on the path to net zero by 2050.  

“Hyround confirms the central role of renewable gases and gas distribution networks as key elements of the energy transition – commented Pier Lorenzo Dell’Orco, Italgas Reti CEO . The plant, designed and built entirely in-house leveraging the Group’s know-how and expertise, is the first example in the EU of the use of hydrogen and methane blending for end-use purposes and enhances the use of hydrogen at the domestic level, making Sestu a virtuous and replicable model”.  

The production plant is based on Power-to-Gas technology, which converts electricity into hydrogen through a process of water electrolysis. The hydrogen produced is intended for multiple uses, both in pure form to power a fleet of buses for local public transport and blended with natural gas for subsequent distribution to customers in Sestu. It will also be used to supply the production process of a local dairy industry. The electricity that powers a 0.5 MW electrolyser is generated by a photovoltaic array, consisting of 1,746 panels with a peak power of 1 MW, built in an area adjacent to the plant. The methods of hydrogen utilization are governed by an Operational Protocol signed by Italgas, the Ministry of the Environment and Energy Security (MASE), and the Italian Gas Committee (CIG) 

Initial production is approximately 21 tons of hydrogen per year, expected to increase to 70 tons per year by 2028. The project involved an investment of approximately €15 million, of which €1.5 million from the National Recovery and Resilience Plan (NRRP) for the construction of the hydrogen refueling station for vehicles.    

Hyround covers the entire value chain: from production to storage and distribution, with the aim of demonstrating how, with the contribution of the gas system – thanks to the extensive reach of the networks and their virtually unlimited storage capacity – the decarbonisation goal of key sectors such as transportation, industry and residential use is achievable in the medium term.   

The choice of Sardinia is no coincidence: the Italgas Group has built the most advanced gas distribution networks in the country on the island: “native digital” networks which, in addition to bridging the gap in natural gas supply in 2020 through a tailor-made supply system, are already ready to accommodate different gases, including renewable ones such as biomethane, hydrogen and synthetic methane. 

In this sense, hydrogen has a dual strategic importance, not only as a carrier but also as a means of energy storage. Hyround demonstrates that one of the most effective ways to store electricity produced from renewable sources is not through accumulators – for which the country does not have the necessary raw materials – but through its conversion into a clean carrier such as hydrogen. This gas, even when mixed with others, can be easily injected into existing networks, quickly transported from one point to another in the distribution system and stored or transformed according to usage needs. 

Hyround implements the principle of sector coupling which, based on the integration of gas and electricity systems, strengthens the overall flexibility and resilience of the country’s energy system.   

The name Hyround is inspired by the principles of cyclicality, regeneration and continuity: key elements of an increasingly sustainable energy system linked to renewable energies, including gases. 

Changes to Italgas’ calendar of 2025 corporate events

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Milan, 18 September 2025 – Italgas announces that the meeting of the Board of Directors for the approval of the results as of 30 September 2025 and of the 2025-2031 Strategic Plan, initially scheduled for 28 October 2025, has been postponed to 29 October 2025.

The release of the related press statements will take place on the morning of October 30, 2025, before the opening of the financial markets. The presentation of the aforementioned results and of the 2025–2031 Strategic Plan to the financial community will be held on the same day. The time will be announced as soon as possible and specified in the invitation to be sent to investors and analysts.

188 years of Italgas

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Every energy has its own story. Ours began 188 years ago, when Italgas first brought gas lighting to the streets of Turin. Since then, we have continuously looked ahead, supporting the country through major technological and energy transformations.

Across generations, our history has been marked by innovations and challenges that have significantly contributed to Italy’s economic and social development. This journey has led us to become the largest gas distribution company in Europe. Yet this is not a destination, but a starting point—and a reaffirmation of our responsibility towards a net-zero future.

Italgas’ leadership is built on a clear vision for the gas networks of tomorrow, on technological innovation, and on the tools that will enable the progressive integration of renewable gases—from biomethane to hydrogen—making the energy system safer, more efficient, and more sustainable.

Today, 188 years on, we celebrate a legacy that continues to drive our ability to innovate and shape the future of energy.

Happy Birthday, Italgas!

Italgas: consolidated results as at 30 june 2025 approved

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Milan, 24 July 2025 – The Italgas’ Board of Directors, which met yesterday, chaired by Paolo Ciocca, has approved the consolidated results as at 30 June 2025.

Highlights 1

  • Total revenues and other income adjusted: 1,126.7 million euros (+29.2%)
  • Adjusted EBITDA: 857.5 million euros (+27.8%)
  • Adjusted EBIT: 558.0 million euros (+38.9%)
  • Adjusted net profit attributable to the Group: 316.6 million euros (+31.1%)
  • Technical investments: 495.1 million euros
  • Cash flow from operating activities: 739.0 million euros
  • Net financial debt (excluding the effects pursuant to IFRS 16 and IFRIC 12): 10,859.0 million euros
  • Net financial debt: 10,973.0 million euros

 

The economic, financial and operational indicators for the first six months of 2025 reflect the consolidation of the 2i Rete Gas Group that took place on 1 April 2025, while the growth trend that has been ongoing since 2017 continues. The acquisition of 2i Rete Gas made Italgas the leading European operator in gas distribution and transformed the face of a sector that has historically been fragmented and largely static. During the half-year, Italgas also successfully launched and completed a capital increase of 1.02 billion euro through the issuance of 202,938,478 new shares.

The merger by incorporation of 2i Rete Gas into Italgas Reti, effective from 1 July 2025, carried out in just 90 days and well ahead of the initial timeline, enabled the integration of processes, the alignment of IT systems and the territorial reorganisation, the first step towards efficiency generation and organic growth. To support this process, 25 cross-functional working groups were created with the dual objective of preparing all activities necessary to ensure business continuity at the time of the incorporation of 2i Rete Gas and of implementing synergies through the comparison of the two operating models, the identification of their respective best practices and the timely pursuit of efficiency opportunities.

In the first half of 2025, the Italgas Group recorded total revenues and other income adjusted of 1,126.7 million euros, up 29.2%, and adjusted EBITDA increased by 27.8% compared to the same period of the previous year, reaching 857.5 million euros. Adjusted EBIT, equal to 558.0 million euros, increased by 38.9% versus 1H 2024. Excluding 2i Rete Gas contribution, adjusted EBITDA would have grown by 3.2% and adjusted EBIT by 12.4% versus the same period last year.

Cash flow from operating activities amounted to 739.0 million euros, an increase of 209.5 million euros compared with the same period in 2024, allowing the Group to cover investments for the period and a substantial portion of the dividends paid in the second quarter. The evolution of debt over the half-year mainly reflects the amount paid for the acquisition of 2i Rete Gas, net of the proceeds from the capital increase, and the consolidation of the related net financial debt.

In particular, technical investments in the first six months of 2025 totalled 495.1 million euros, with the construction of approximately 430 kilometres of gas distribution networks. Digital transformation activities also continued, and preparatory activities began for the technological and digital upgrade of the 2i Rete Gas networks, to align them with those of the Group.

In the water sector, operations focused on the application of digital technologies, to increase operational efficiency and reduce network losses, as well as on carrying out, in cooperation with Siciliacque, a series of remediation works on the supra-municipal network. These works are intended to accommodate the new volumes of water produced through three new desalination plants, developed by Siciliacque in its role as implementing entity, which are intended to offset part of Sicily’s water deficit and will come into operation in the coming weeks.

In the energy efficiency sector, activities are progressing to expand the customer base through offers based on technological innovation for industry, large residential complexes and public administration. The growing results for the first half of 2025 confirm the effectiveness of the proposed solutions in ensuring efficiency and energy savings for Geoside’s customer base.

Paolo Gallo, CEO of Italgas, commented:

 

 

“We created the leading European operator in gas distribution, with more than 4,000 municipalities and almost 13 million customers served, over 155,000 kilometres of network and a workforce of around 6,500 employees. The integration of 2i Rete Gas, completed in just 90 days, is the result of our ability to manage highly complex activities through an ad hoc organisation structured around numerous working groups. The integration of IT systems and the territorial reorganisation of the Company are the clearest evidence of an extraordinary effort carried out in a very short time.

 

The results for the first half of 2025 demonstrate the Group’s industrial and financial strength: with adjusted EBITDA up 28% and adjusted net profit increasing by over 31%, we have demonstrated our ability to generate value in a consistent and sustainable manner. Investments reached half a billion euros and were mainly focused on the networks, making them increasingly smart and thus capable of handling different types of gas, both fossil and renewable in origin.

 

Italgas Group’s development strategy, which will be outlined again during the presentation of the 2025–2031 Strategic Plan next October, represents an effective response to the growing demand for secure, renewable and economically accessible energy for households and businesses.

1 The consolidated economic and financial highlights and operational highlights reflect the effects of the consolidation of the 2i Rete Gas Group on 1 April 2025.

Italgas and Cadent renew their collaboration agreement: innovation, digitalization, decarbonization and renewable gases at the core

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Rome, 17 July 2025 – Italgas and Cadent reaffirm their strategic cooperation: the two companies have renewed the Memorandum of Understanding (MoU) signed in 2023, sharing a mutual commitment to strengthening collaboration in the fields of technological innovation, digitalization, and the sustainability of gas distribution networks, guided by a common vision of the goals of the energy transition.

Italgas is the leading gas distribution operator in Europe, serving nearly 13 million gas users and managing a distribution network of over 154,000 kilometers.

Cadent is a UK regional gas distribution company that operates largest natural gas distribution network in the United Kingdom. Every day, it delivers gas to 11 million homes and businesses.

The new agreement was signed at Italas headquarters in Rome by Paolo Gallo, Chief Executive Officer (CEO) of Italgas, and Howard Forster, Chief Operating Officer (COO) of Cadent Gas Limited, in the presence of Alessandro Cattaneo MP, President of the UK-Italy Friendship Group in the Italian Parliament.

The renewal of the agreement consolidates a collaboration that began several years ago and has been enriched by numerous exchanges of experience and technical expertise between the two leading sector operators. Italgas and Cadent intend to intensify cooperation in key areas for the transformation of European energy infrastructures.

“Combining expertise, experience and vision with a partner of absolute excellence like Cadent – commented Paolo Gallo, Chief Executive Officer of Italgas – allows us to double our ability to innovate and to lead the transformation of gas networks in a sustainable and digital way. The renewal of the Memorandum confirms our shared intent to make energy infrastructures increasingly resilient and safe, while also accelerating the path toward decarbonization, encouraging the development of renewable gas production and its contribution to meeting energy needs”.

“We are delighted to continue our relationship with Italgas as part of our strategy to stay at the forefront of the energy transition. By actively engaging with system operators across Europe, we can share insights, learn from diverse experiences, and co-develop more efficient and resilient gas networks for the future” – stated Howard Forster, COO of Cadent.

Hon. Alessandro Cattaneo, President of the Italy–UK Parliamentary Friendship Group and Co-Chair of the Pontignano Conference, commented: “I am honoured to attend the renewal of the agreement between Italgas and the UK-based company Cadent, which represents a tangible step forward in the collaboration between two leading industrial players from our respective countries. At a time like this, diversifying energy strategies and fostering new synergies is the right path to take. This agreement is a clear example of how strengthening ties between Italy and the United Kingdom can actively support the energy transition—by promoting innovation, digitalization, and the use of renewable sources in gas distribution systems. I warmly welcome initiatives like this, which place international cooperation at the heart of building a more sustainable, secure, and resilient energy future.”

The MoU will expand the areas of collaboration in line with the strategic priorities of the two companies, jointly promoting technical, regulatory, and legislative developments in international contexts for a further three years:

  • Decarbonization and renewable gases: joint development of strategies for the integration of biomethane, hydrogen, and low-carbon synthetic methane. The goal is to transform the networks into infrastructures capable of accommodating these key energy carriers on a large scale for a sustainable transition.
  • Network digitalization: sharing of advanced digital solutions, including remote monitoring tools, predictive maintenance, and operational automation.
  • Cybersecurity: strengthening the resilience of systems for monitoring and managing gas distribution networks, encouraging the exchange of best practices, approaches, and prevention tools.
  • Artificial intelligence and skills development: sharing of respective technological transformation initiatives supported by the adoption of artificial intelligence, and promotion of joint initiatives for the development of new skills.

The agreement also includes the establishment of thematic working groups that will meet regularly to monitor the progress of activities and identify new opportunities for cooperation. Italgas and Cadent thus reaffirm their commitment to building strong international collaborations for a sustainable energy future, with smart networks capable of supporting decarbonization and ensuring energy that is secure, reliable, and accessible.

Italgas stock confirmed for the ninth consecutive year in the FTSE4Good Index Series

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Milan, 14 July 2025 – Italgas has been confirmed for the ninth consecutive year as a constituent of the FTSE4Good Index Series, that includes companies demonstrating strong Environmental, Social and Governance (ESG) practices. FTSE Russell’s evaluations are based on performance in areas such as Corporate governance, health and safety, anti-corruption, and climate change.

This year, Italgas further improved its score to 4.4 out of a maximum of 5 points, achieving the highest rating in the social and governance categories and outperforming both the industry average and other Italian companies.

The result achieved confirms Italgas’ commitment to all aspects of sustainability, a key element that permeates the Group’s strategic development choices and daily operations.

Italgas: New EMTN Programme Established and Listed in Italy

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Milan, July 10 2025 – Italgas announced today the establishment of a new Euro Medium Term Notes (EMTN) Programme with a maximum nominal amount of €5 billion.

The programme, approved today by the Commissione Nazionale per le Società e la Borsa (CONSOB), provides for the issuance of one or more non-convertible bond loans to be executed within one year, intended exclusively for institutional investors.

The new Italgas EMTN Programme is the first and innovative example of a plan for companies in Italy that enables the issuance of dematerialized securities, listed on the Mercato Telematico delle Obbligazioni (“MOT”), managed by Borsa Italiana S.p.A. It is fully aligned with the Italgas Group’s commitment to promoting the development of the domestic bond market.

The establishment of the new EMTN Programme was celebrated with a “Ring the Bell” ceremony held this morning at Palazzo Mezzanotte, in Piazza degli Affari in Milan, attended by representatives from Italgas, CONSOB and Euronext-Borsa Italiana.

Italgas: Moody’s Ratings affirms Rating and Outlook

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Milan, July 4 2025 – Rating agency Moody’s today affirmed the long-term credit rating of Italgas S.p.A. (“Italgas”) at ‘Baa2’, with a Stable Outlook.

The same ‘Baa2’ rating has been affirmed to the outstanding bonds issued by Italgas, as well as to those originally issued by 2i Rete Gas and now assumed by Italgas Reti.

The affirmation of the ‘Baa2’ rating follows the completion of Italgas’ acquisition of 2i Rete Gas and the subsequent merger with Italgas Reti, effective as of 1 July 2025, reflecting Italgas’ position as a leading gas distribution operator in Europe, the Group’s operational efficiency, and the stability of the Italian regulatory framework.

Moody’s highlights that Italgas’ rating remains tied to the company’s exposure to the sovereign risk of the Italian State (‘Baa3’, Positive Outlook).

The merger by incorporation of 2i Rete Gas into Italgas Reti becomes effective

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The European leader in gas distribution is born

 

Italgas CEO, Paolo Gallo: “An extraordinary achievement just three months after closing. Operational efficiencies and industrial synergies expected as early as 2025.”

 

Milan, 2 July 2025 – The merger by incorporation of 2i Rete Gas into Italgas Reti, the main operating company of the Italgas Group becomes effective. This milestone marks the completion of the integration process started immediately after the acquisition finalized in April, supported by a capital increase that was met with strong market support.

 

“Just three months after the closing of the 2i Rete Gas acquisition,” commented Paolo Gallo, CEO of Italgas, “we are reaching the first milestone with a speed that is unprecedented for operations of this scale. It is an extraordinary result, the outcome of a clear vision, rigorous planning, and above all, the great professionalism of the people involved. This integration makes it possible to achieve operational efficiencies and industrial synergies, to the benefit of territories, communities, and more broadly of the Italian and international gas distribution sector.”

 

With the incorporation of 2i Rete Gas, the Group is reshaping its territorial organization, achieving a more extensive presence across Italy, with operations in over 4,000 municipalities and approximately 12 million customers served through 150,000 kilometres of network and a workforce of around 6,500 employees.

 

The creation of this new corporate entity enables full implementation of the roadmap set out in the 2024–2030 Strategic Plan, presented to the market last October. The Plan foresees cost synergies, operational efficiencies, and incremental revenues from digitalization investments amounting to approximately €280 million by 2030. These benefits stem from the combination of Italy’s two leading operators, the adoption of best practices from both companies, and the advantages offered by digitalization and extensive use of Artificial Intelligence – now further enhanced by the Group’s increased scale. The merger, completed ahead of schedule, will allow for detailed representation of the many value creation levers in the upcoming 2025–2031 Industrial Plan, to be presented on 29 October.

 

Italgas: S&P Global Ratings assigns BBB+ rating

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Milan, July 1 2025 – The rating agency S&P Global Ratings today assigned to Italgas S.p.A. (“Italgas”) and Italgas Reti S.p.A. (“Italgas Reti”) a long-term Issuer Rating of BBB+, Stable Outlook.

 

The rating action follows the completion of 2i Rete Gas S.p.A. (“2i Rete Gas”) acquisition and the subsequent merger by incorporation of 2i Rete Gas into Italgas Reti, effective as of today.

 

The same BBB+ rating has been extended to the outstanding bonds issued by Italgas, as well as to those originally issued by 2i Rete Gas and now assumed by Italgas Reti.

 

The rating reflects Italgas’ position as the leading gas-distribution operator in Europe, strengthened by the acquisition of 2i Rete Gas and by the anticipated operational efficiencies and additional synergies arising from the integration of the two companies.

 

The agency also highlights Italgas’ sound liquidity profile, further supported by the capital increase recently completed on June 24th 2025.