Importaco : Foener Energy and Grupotec join forces to develop the business of Comprehensive Energy Management

Foener Energy and Grupotec join forces to develop the

business

of Comprehensive Energy Management

•  The alliance will become reality with a capital increase of 600,000 euros.

•  With this alliance, Grupotec will own a 33.3% of the business and Foener another 33.3%.

Valencia, 03 jan 2018. The Valencian companyFoener Energy,which belongs to the business groupImportaco,joins forces withGrupotec,one of the main companies in the sector of renewable energies in Europe and America, with the aim of leading the energetic transformation of the companies to a more sustainable model as a long-term competitive advantage.

Besides, with this alliance Grupotec will own a 33.3 % of the business and Foener, another 33.3%. The remaining percentage will be owned by minority shareholders, such as Importaco, with a 22.2%.

With a capital increase of 600,000 euros, the alliance between both Valencian companies expect being the only one that can offer a Comprehensive Energy Management model specialized in the business market - industrial market and services market - in which both companies have a long history.

The economic resources for the capital increase will be destined to reinforce the balance of the company, with the aim of developing a shared business strategy, consolidate the business of 30 million euros reached by the end of 2017 and the intention of having a double digit growth until 2020. The 17 people that currently form the team of Foener Energy are joining the more than 200 employees of Grupotec.

According to Fernando Pons, CEO for Foener Energy, with this alliance: "we expect to develop as Energetic Partners, by adapting our products and services in a flexible, warm, transparent and rigorous way, translating our knowledge and experience to supply the most optimal solution for each company and to start the change to continuous sustainability by achieving long-term competitive advantages in our clients."

From the geographic point of view, the activity of the company will not be developed only in the Valencian region, but it will also be extended to the national market, with the aim of developing a comprehensive energy management through the management of the markets and energetic projects as measures for a better and more efficient management.

Thanks to this alliance, both companies will support the commercialization of electric power, the representation of facilities in Special Regime, the gas market, advisory and consulting services, management of assets, energy monitoring and management systems, as well as engineering projects and high consumption facilities, photovoltaic and co-generation systems, maintenance, energetic efficiency projects, etc.

"The similarities regarding values and the trustfulness between both companies have made this alliance possible" says Olallo Villoldo, CEO for Grupotec.

About Foener

Foener is born in September 2009 as a company for the promotion and investment of projects regarding renewable energies, focused in the photovoltaic energy.

As a business of power generation, it first project finishes in Spain in 2010, and this will be followed by other projects in Spain and Italy. Currently, their development in the European scope still goes on.

During 2012 starts the development of Foener Commercialization, which later will become Foener Energy, and whose activity starts in September 2013. This implies a change of orientation, setting the partner-client as the focus of all the actions.

Currently, Foener has two well defined and separate business areas: the business of energy production or generation and the energetic management, where the commercialization of electric power is comprised, the representation of special regime facilities, the gas market and the energetic efficiency.

Foener has all the certifications and standardizations to be able to manage and become energetic partner:

•  OMIE. OMI-Polo Español S.A.

•  MEFF. Mercado Oficial Español de Opciones y Futuros Financieros

•  OMIP. The Iberian Energy Derivatives Exchange

•  Ministry of Industry, Energy and Tourism

•  Red Eléctrica de España

•  CNMC. Comisión Nacional de los Mercados de la Competencia

About Grupotec

Created in 1997,GRUPOTEC is a company with international presence which supplies professional engineering and consultancy services, and develops, builds and funds renewable energies projects. In the last years, Grupotec has been positioned as one of the main companies in the sector of renewable energies in Europe and America. With more than 20 years of experience in the sector, its experience include: projects in photovoltaic and wind energy fields, biodiesel, biomass and solar thermal energy.

Grupotec is the reference company in the area of photovoltaic energy, with more than 450 MW installed in different countries of Europe and America.