EQS-News: Wolftank Group completes acquisition of majority stake in Petroltecnica

Press release                                                                                      Innsbruck, 16 October 2023 

Wolftank Group completes acquisition of majority stake in Petroltecnica

Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6), specialized in renewable energy and environmental remediation technologies, has completed the announced acquisition of the Italian environmental services provider Petroltecnica SpA. The closing of the transaction took place on Friday. The purchase price for an additional 40 percent and one share amounts to EUR 4 million. Since July 2020, Wolftank Group held a ten percent stake in Petroltecnica, as well as positions on the Supervisory Board and Management Board, and had the option to increase its stake to a majority.

With annual sales of EUR 28.9 million (2022), Petroltecnica is firmly established in the Italian market as a specialist in environmental remediation in the industrial sectors of oil and gas, chemicals and manufacturing and operates several recycling plants. The consolidation of the new subsidiary will further strengthen the Wolftank Group's balance sheet and expand the base for future growth. The combination of Wolftank's and Petroltecnica's competencies and capacities consolidates the leading market position in Italy and opens up new market opportunities.

"With this acquisition, we are setting a next milestone in our growth strategy and further strengthening our position in the environmental sector. Together, we are a leading player in the Italian market and are now able to offer our customers an even more comprehensive and powerful portfolio," said Peter Werth, CEO of Wolftank Group, on the transaction.

The strategic direction and capabilities of Wolftank and Petroltecnica complement each other perfectly. They will not only increase operational efficiency, but also help to further drive innovative solutions and services in the environmental sector. Wolftank Group thus reaffirms its commitment to providing fit-for-future and sustainable environmental solutions.

About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental solutions operating worldwide. In the field of energy mobility and logistics, the Group supports customers in more than 20 countries to implement projects in an efficient and environmentally friendly way. For this, it develops and implements tomorrow's technologies to decarbonize transport and build the infrastructure for zero-emission mobility - such as turnkey delivery of modular hydrogen and LNG refueling facilities. In the area of environmental solutions, the offering includes due diligences for environmental risks, customized services for soil and groundwater remediation, as well as recycling. The group's subsidiaries in eight countries on three continents are managed by Wolftank-Adisa Holding AG, based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of the Vienna Stock Exchange AG and in the m:access of the Munich Stock Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges. Further information: www.wolftankgroup.com

Contact:
Wolftank-Adisa Holding AG
phone: +43 (512) 345726
email: investor-relations@wolftankgroup.com

Disclaimer:
This communication contains forward-looking statements based on current knowledge, expectations, and projections of Wolftank-Adisa Holding AG's management about the future. All statements are subject to potentially uncertain assumptions and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such statements can be identified using words such as "expect", "plan", "anticipate", "target", "estimate", "assume" or similar. Consequently, statements relating to the future are only valid at the time they are made. The Company does not assume any obligation to adjust, correct or monitor statements made in this communication in the future.