(Alliance News) - Eems Italia Spa announced Friday that its new board of directors confirmed the chairman, Susanna Stefani, and CEO, Giuseppe De Giovanni, who will also be general manager.

In addition, Michele Del Piero was appointed vice chairman of the board.

Eems Italia also approved the 2023-2027 business plan, which updates the one approved on Nov. 3, 2021, and provides for the startup and development of the business of electricity production from renewable sources, particularly photovoltaics, for which the company will become an independent power producer.

"The company will still continue to carry out its activity as a wholesaler in the field of electricity and gas," Eems Italy explained.

In particular, the company intends to follow the following steps for the development of its business: wholesaler of B2B electricity and gas, which continues with remodeled volumes compared to the previous version of the plan; wholesaler of B2C electricity and gas, extension of electricity and gas sales services also to retail domestic customers; and start-up of the production and sale of electricity from photovoltaic sources through the commissioning of plants on Italian territory, through the operating sub-holding Eems Renewables Srl.

The plan forecasts steady growth in revenues from electricity and gas sales in the period 2023-2027 originated from both the increase in the number and diversification of customers.

Still, the plan calls for revenues from the renewable energy segment originated from the sale of energy produced through photovoltaic plants. The activity will be financed through capital injection, by EEMS Italy, in the amount of about EUR5.5 million and a bank loan, amounting to about EUR4.5 million. The plan estimates steady growth in revenues and operating income over the period 2023-2027.

Finally, the company announced that it has decided to move its registered office from Piazza Cinque Giornate No. 10 to Via Antonio Da Recanate No. 2, also in Milan.

Eems Italia's stock is up 16 percent at EUR0.035 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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