Redelfi S.p.A., a company at the head of the industrial group of the same name with operational headquarters in Genoa, active in the development of innovative and sustainable infrastructure projects to facilitate the energy transition, and Flash S.p.a. part of the WRM Group have started a joint venture, through the sale at nominal value of a stake equal to 49% of the share capital of the specifically established newco Bright Storage S.p.A., and to have signed the relevant shareholders’ agreements. Following the sale, Bright Storage is owned 51% by Redelfi and the remaining 49% by Flash. As part of the closing, the Development Service Agreement (“DSA”) was also signed between Redelfi and Bright Storage by virtue of which Redelfi will put its technical skills at the service of the partnership.

Redelfi, by virtue of the acquired know-how, participates in the joint venture with a highly active role, both as a Bright Storage partner and as a supplier of all technical-operational development services pursuant to the DSA, for a recurrent fee for the activities performed, which will be paid based on the progress of the work at the completion of each development gate.