(Alliance News) - SolidWorld Group Spa announced Monday that its subsidiary SolidFactory Srl, a company specializing in turnkey industrial 5.0 projects, has signed a supply contract with a global international player for the engineering and complete supply of an innovative high-tech line in the solar and renewables sector.

The "million-dollar" order, the company points out in a note, will be entirely to be invoiced during the 2024 financial year and includes SolidFactory's supply of a production line-from the mechanical part to the digital management software and automation-for the "mass production" of high-efficiency photovoltaic panels. Delivery will take place in the year 2024.

The agreement comes following SolidWorld Group's acquisition through its subsidiary SolidFactor, of a business unit of Formula E, a company part of the Baccini Group, a holding company with a historical track record in the industrial and photovoltaic sectors. Thanks to this transaction, SolidFactory has been able to integrate into its business the activity and know-how related to the production of high-quality and efficient photovoltaic panels, including the revamping of obsolete panels.

Roberto Rizzo, president of SolidWorld Group, commented, "The strategy of creating two new technological and business pillars is rapidly beginning to bear fruit. After the internationalization of the biomedical sector, with the entry into the most innovative U.S. and Swiss, as well as Italian, markets, now it is the turn of the green photovoltaic sector where we have obtained the first important international orders."

Andrea Maccari, president of SolidFactory, added, "The figures recorded in 2023 in photovoltaics, as well as the positive growth forecasts for the sector internationally, underscore the central role of renewables in the global energy transition path. In this market context, in just a few months we have gone from acquiring a Formula E business to signing a major supply agreement with an international player in the sector. This is a remarkable achievement for a project that will see us engaged for a long time in the engineering, construction, commissioning and supply of the machine in question. Thanks to this agreement, which is strategic especially for our Renewable Business Unit, we have the opportunity to demonstrate our "supply chain" know-how that allows us to provide turnkey, highly digitized and sustainable factories."

SolidWorld's stock is in the green by 6.5 percent at EUR4.45 per share.

By Chiara Bruschi, Alliance News reporter

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