SIT joins UpSens and grows in air quality monitoring

(Alliance News) - SIT Spa announced Tuesday that it has acquired 10 percent of UpSens through a reserved capital increase.

UpSens is an innovative SME based in Trento, Italy, belonging to the Optoi Group, specializing in the development of devices for monitoring indoor environmental parameters, both standard and custom, with specific expertise in air quality.

Relevant synergies will arise from the collaboration between SIT and UpSens in the area of air quality solutions, particularly in the VMC - Controlled Mechanical Ventilation - segment. VMC solutions enable air exchange and filtration and, through heat exchange between outgoing and incoming air, improve the thermal efficiency of buildings.

SIT is already a supplier of control electronics for the VMC segment and plans to further expand its range in the coming years. The partnership with UpSens fits into this strategic development path for the segment, as the company explained.

"Indoor air quality control has been a central element of SIT's mission since before the pandemic. This is something that greatly affects the quality of life, and never before have people realized this," said Federico de' Stefani, president and CEO of SIT.

"This awareness has made way for investments, also thanks to government bonuses, in air purification solutions on the one hand and energy efficiency on the other, in order not to waste the heat generated, which is so expensive today. To seize the opportunities in this market segment," de' Stefani continued, "we have found in UpSens a competent partner that shares our mission. We want to play a leading role in the energy transition, creating solutions that can really make a difference in the lives of all of us and that are in line with decarbonization goals and environmental protection policies."

SIT's stock is down 1.3 percent at EUR6.12 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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