Glass to Power, a company that makes transparent photovoltaic insulating glass components, will be listed next week on Euronext Paris, with a placement price of $55 (€48) per share and a free float of 528,812 shares, equal to $28.92 million (€25.38 million).
This is a fundamental step in the evolutionary path of the company, which until now has been supported mainly by equity crowdfunding, raised on the Italian portals CrowdFundMe and Opstart. Glass to Power launched its last crowdfunding campaign on the Italian portal Opstart last March, raising $2.6 million (€2.3 million).
On CrowdFundMe, Glass to Power has launched two equity crowdfunding campaigns: one in 2017, in which it raised $208,500 (€183,000), followed by another in 2018, worth $2.5 million (€2.2 million). Investors in the second collection on CrowdFundMe also included Federico De Nora spa, the holding company of Gruppo Industrie De Nora, an Italian multinational leader in electrochemical technologies for sustainable growth, which had invested another 627 thousand euros. In November 2019, Glass to Power had opened a new investment round with the aim of raising up to 8 million euros, which had been joined by the old shareholders for $1.25 million (€1.1 million), but then the Covid emergency had changed the plans.
In terms of pre-money valuation, since the first equity crowdfunding round $1.7 million (€1.5 million) Glass to Power has increased its value by 17 times and by 2.8 times since the second round $10.2 million (€9 million). In addition to Glass to Power, the other exits through listing related to companies that have collected on CrowdFundMe were that of the portal itself, CleanBnb (short term rentals), i-RFK (industrial holding), and TrenDevice (sale of remanufactured devices).
Tommaso Baldissera Pacchetti, managing director of CrowdFundMe, explained: “Over the years we have developed a rigorous system of selection of issuing companies, with the aim of identifying high-potential companies with concrete exit possibilities. Glass to Power’s listing on Euronext is further proof that our strategy is yielding tangible results to the benefit of investors. This is the fifth listing for us and confirms us as the leader in Italy for number of exits”.
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About Glass to Power
Glass to Power, created as a spin-off of the Bicocca University of Milan, is specialized in the production of completely transparent photovoltaic insulating glass modules that can be assembled in series for the realization of glass curtain walls. The revolutionary BIPv solution is totally integrated into the architecture of buildings, making active surfaces that until now could not be used to produce clean energy. The funds raised by the IPO will be used for further industrialization of the product and growth of the commercial structure.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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