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Press release
FINALIZED AVIO'S INVESTMENT IN A QUALIFIED MINORITY STAKE IN T4i
Rome, September 4, 2023 – Avio, a leading aerospace propulsion company listed on the STAR segment of the Italian Stock Exchange, announces an agreement with T4i, a spin-off of the University of Padua based in Monselice (PD), specialized in innovative propulsion systems for aerospace applications, to realize a strategic minority investment in T4i's capital.
T4i was founded in 2014 by a team led by Professor Daniele Pavarin and has demonstrated competence and excellence in the development of propulsion technologies over the years, growing rapidly and working on ambitious programs in partnership with ESA, ASI, CNR, and various Italian and foreign companies, including Avio itself.
The investment was made through Avio's subscription to a dedicated capital increase, resulting in Avio's participation of approximately 17% in T4i's shares, with an investment of approximately 2.5 million Euro. Additionally, there are ongoing agreements for commercial and technological development aimed at the creation of new space technologies.
The investment will enable T4i to continue its growth path by investing in human capital and its facilities.
The investment has already received the necessary approvals as required by applicable regulations.
Avio's CEO, Giulio Ranzo, commented, "T4i operation is an important step in the growth of Avio Group's expertise in the field of space propulsion, particularly in the area of 'green' storable chemical propulsion systems, electric propulsion systems, and attitude control thrusters. The agreement will enhance the effectiveness and time-to-market for the introduction of new functional propulsion systems in our strategic plan, thanks to T4i's agility and expertise, and the synergies with Avio's infrastructure and system vision. It also represents a further step in creating and enhancing competence centers distributed throughout the national territory, aligned with the Group's development plans."
T4i's CEO, Daniele Pavarin, commented, "This agreement represents an important milestone that recognizes the quality achieved by a group that was born within one of Italy's most prestigious universities. With this operation, the company has succeeded in establishing itself for its expertise at national and international levels, gaining recognition and appreciation from one of the world's leading companies in the field of space propulsion. Furthermore, Avio's investment represents a fundamental starting point towards extraordinary new horizons. Meeting the quality requirements set by AVIO to serve the VEGA platform entails a radical corporate growth towards standards typical of large aerospace companies. Combined with the versatility, creativity, and speed that are the core characteristics of our company, this partnership will allow us to become one of the world's most important SMEs in the field of space propulsion. This partnership thus represents an opportunity to experience space at its highest level and present ourselves in the international market as an innovative and concrete SME capable of offering excellent products, attentive and competent service, and the highest quality standards."
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For further information:
Investor Relations Contacts:
For AVIO
Media Relations Contacts:
For AVIO
giuseppe.coccon@service.avio.com
For T4i
s.amata@t4innovation.com