Italeaf: the subsidiary algoWatt awarded a contract in Poland for the provision of a PersonalBus app for the management of flexible transport services

PRESS RELEASE 16 JUNE 2020

Italeaf: the subsidiary algoWatt awarded a contract in Poland for the provision of a PersonalBus app for the management of flexible transport services

Italeaf SpA, holding company and first Italian company builder active in the cleantech and smart innovation sectors, listed on the NASDAQ First North Growth Market of the Stockholm Stock Exchange, announces that the subsidiary algoWatt, GreenTech Solutions Company listed on Borsa Italiana's electronic stock exchange (MTA), have signed the contract for the development of a solution for the management of the flexible on-demand Tele-Bus service operated by Miejskie Przedsiębiorstwo Komunikacyjne Spółka Akcyjna (MPK S.A.), a public transport operator based in Krakow (PL). algoWatt awarded the contract in a European tender and related selection process involving several other multinational providers.

The contract provides for the development of the platform for the management of the DRT public transport service, which includes the application for the planning, optimization and execution of the service by the operator, the app dedicated to the driver for the management of the trips and the app for the booking of the service by customers. The solution that will be provided to MPK is based on the PersonalBus platform, developed over the years by algoWatt, successfully used by many operators in Italy and recently renewed with the latest technologies.

The contract has a duration of 30 months of which 6 months for development and 24 months of operational maintenance for which algoWatt will use local operators.

MPK is one of the largest public transport operators in Poland and the choice of the solution implemented by algoWatt demonstrates the company's leadership in the flexible mobility sector, providing a solid reference for a possible development of the foreign market.

This press release is also available on the Company website:

Italeaf SpA is obliged to make public this information pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 6.30 CET on 16 June 2020.

Certified Adviser

Mangold Fondkommission AB, +46 (0)8 5030 1550, email: , is the Certified Adviser of Italeaf SpA on Nasdaq First North.

For further information please contact:

Claudio Borgna CFO – Italeaf S.p.A.

Email:

Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, and at Milano.

The company controls the smart energy company TerniEnergia, listed on the MTA of the Italian Stock Exchange, Skyrobotic, active in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market, Numanova, operating in the field of innovative metallurgy and additive manufacturing, and Italeaf RE, a real estate company. Italeaf holds, among others, a minority stake in Vitruviano LAB, a research center active in the R&D sector for special materials, green chemistry, digital transformation and cleantech.

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