Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, announces that it reached an agreement on taking over the majority stake of ANT Power Energy, provider of forecasting services for photovoltaic power plants and wind turbines. The transaction is subject to approval at the Extraordinary General Meeting of Shareholders on December 28, 2021.
“When our shares started to float on the Bucharest Stock Exchange, we promised investors earnest and development, both in terms of consolidating the market for the services we currently provide and for new services that will help us access new markets and clients. ANT Power services complement what we already offer in the market, and this transaction represents a strategic move in this wave of renewables. Therefore, we can say that we are the first and only company in the renewable energy sector that targets the energy independence of Romanian companies. We offer complete services to our customers, namely sizing and construction of photovoltaic power plants, design, procurement, commissioning, and maintenance. Moreover, with the conclusion of this partnership, we will provide new services such as the prediction of energy production and its and green certificates sale where appropriate. Thus, we will differentiate ourselves from the rest of the competitors. We aim to take full advantage of the Green Deal context by significantly increasing our turnover and supporting companies in their process of energy efficiency,” stated Iulian Nedea, co-founder and CEO of Simtel Team.
ANT Power Energy is a Romanian entrepreneurial company that mainly provides forecasting services for photovoltaic power plants. The forecast is made with a program developed internally by the company, one of the best in the market, with a prediction rate of energy produced the next day, very close to the real one. The company also provides customer representation services in the energy markets, the latter being producers of photovoltaic and wind energy and energy suppliers. The company’s business portfolio includes over 120 power plants and six energy suppliers.
“We are glad to take this step and join Simtel. After almost nine years of meeting the needs of our customers for renewable energy, we have chosen to take a step towards a new beginning. We consider that it is a logical step in consolidating the market position of both companies. We assure our clients and collaborators that we will continue with the same dedication and promptness in addressing their needs. Our services are complementary to those provided by Simtel. Together we will function as a unitary whole that offers a full range of technical and economic services in a context which is favorable to the development of renewable energy,” stated Adrian Tita, founder, and CEO of ANT Power Energy.
Simtel Team is considering the acquisition of a 51% majority stake in ANT Power Energy for approximately 1.5 million lei. The amount will be paid in two installments, the first having a value of about 475k lei, and will be paid in cash immediately after the date of adoption of Simtel’s EGMS decision, which will take place on December 28, 2021. The second installment, amounting to about 1 million lei, will be converted into shares issued by Simtel, which will be settled within a share capital increase carried out for this purpose. The minority stake – 49% of ANT Power Energy will be owned by the founder Adrian Tita, who will continue to be the company’s CEO.
In terms of development plans, ANT Power Energy envisages the expansion of its team and services. At the same time, Simtel will support the company in increasing its market visibility, provide stability through access to funding, and support it in expanding its customer portfolio. This partnership’s main objective is to include ANT Power Energy in the next five years in the top three companies in Romania that carry out representation services on the energy markets on behalf of customers. The company is also considering a potential listing on BVB over the next three years. For Simtel, the partnership with ANT Power Energy means expanding the range of services offered to customers and multiplying the income sources.