Milan, 10 September 2019 - Milan based company, Friem SpA, acquires a majority stake in the Italian startup and ARE Member Windkinetic Off Grid Power Systems.

Friem Spa is a privately-owned company leader in power conversion. Founded in 1950, the company is going through an ambitious organic and inorganic expansion plan, focused on the renewable energy sector.

WindKinetic is the Italian renewable energy startup specialised in the supply of innovative solutions for industrial renewable energy off-grid systems and rural electrification Minigrids.

"This investment brings into our venture consistent resources and industrial capabilities that will allow us to play a major role in the off grid industry" comments Mr. Claudio Pedretti, WindKinetic’s founder and CEO "with this synergy we will be able to offer a complete range of renewable energy off-grid solutions, from few watts to several megawatts. An important step forward"  continues Mr. Pedretti "towards our goals of mitigating climate change and to END energy poverty around the globe".

Mr. Lorenzo Carnelli CEO of FRIEM: "FRIEM is committed to support developing countries, sustaining agriculture activities, food production and economic development of rural communities with a Nexus (water-food-electricity) approach. In fact, even thanks to this partnership, the company is able to supply fully integrated mini-grid solutions generating electric energy from few kW up to multi MW. Today FRIEM Group" continues the CEO "confirms its role as a technology supplier, and the purpose is to support areas in which a sustainable growth is expected in the near future, especially the Far East, Africa and Latin America countries."

 

Read the full press release