JOINT PRESS RELEASE 27 SEPTEMBER 2016
ITALEAF: partnership with Wulian to establish the joint venture WSAVE Co. Ltd
- Strategic alliance between the Italian company builder and the Chinese company leader in the IoT and home automation sector
- The newco will promote integrated an innovative integrated system for smart home and green building
Italeaf, holding company and first Italian company builder active in cleantech and smart innovation sectors, through Italeaf HK (a company licensed by WiSave Srl), and Wulian, a Chinese company specialized in the Internet of Things (IoT) and member of ZigBee Alliance Board of Directors, signed an agreement in Nanjing, to establish a joint venture named WSAVE Co., ltd. (company name to receive final approve from the Chinese Industrial and Commercial Bureau).
The new company is being set up to promote the development of green building technologies and intends to provide energy-saving solutions based on Smart Building system and IoT technology.
As each country has put an increasing emphasis on energy conservation and emission reduction amid global climate change and population boom, using new energy and new technologies to reduce energy consumption is becoming a new trend. This trend is expected to greatly affect IoT market, contributing to an increase in demand for smart energy devices and solutions.
Under such market conditions, Wulian, a professional manufacturer and supplier for Smart Home products and solutions, is currently strengthening its smart unit business, which mainly consists of hardware, software, communication module, sensor, controller, cloud service and big data. Its current products and solutions cover a wide range of fields, including Energy-Efficient Lighting, Security Supervision, Home Appliances Management, Environmental Detection, and more.
Italeaf Group, is a holding company promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. The company has five subsidiaries, which are active in the fields of renewable energy, waste management, civil and commercial drones manufacturing, innovative metallurgy, additive manufacturing and real estate. Italeaf is listed on First North segment of NASDAQ OMX Nordic at Stockholm Stock Exchange.
The new company WSAVE will promote smart energy efficiency solutions for large complex buildings. It will combine unique advantages of Wulian Smart Home system and frontier technologies and Italeaf Group smart energy solutions, to create an integrated system for smart home and green building.
"This strategic cooperation with Wulian is of great importance as it will increase our popularity in China and further expand our business in fields of new energy, IoT and real estate. Wulian is a company having a positive influence in Smart Home globally, and we are delighted to work together with Wulian to explore new business opportunities", said Stefano Neri, Chairman of Italeaf Group.
"As an innovative company in IoT field, Wulian has devoted itself to the exploration of energy saving and has provided customers with energy-saving solutions based on the big data analysis on the energy consumption of electrical devices" - Jaken Zhu, founder and CEO of Wulian, stated - "Italeaf Group is specialized in the field of renewable energy. The partnership with Italeaf Group will accelerate our pace of expanding business in smart building, and Wulian Smart Home system is expected to play a greater role in green building in future".
This press release is also available on the Company website: www.italeaf.com.
Mangold Fondkommission AB is the Certified Adviser of Italeaf on NASDAQ OMX First North.
For further information please contact:
CFO - Italeaf S.p.A.
Mangold Fondkommission AB
Tel. +46 (0)8 5030 1550
Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, Milano and Lecce; has international offices in London and Hong Kong and a research and development centre in the Hong Kong Science and Technology Park. The company controls TerniEnergia, listed on the STAR segment of the Italian Stock Exchange and active in the fields of renewable energy, energy efficiency and waste management, WiSave in the "internet of things" field, for the development and production of thermostats and smart technologies for the remote control of electrical and heating items of buildings managed through a cloud infrastructure, and Skyrobotic, in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market, Numanova, operating in the field of innovative metallurgy and additive manufacturing and Italeaf RE, a real estate company.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Italeaf S.p.A. via Globenewswire