(Finance) – SIMESTthe Cassa Depositi e Prestiti Group company that works for the internationalization of Italian companies, has concluded a new partnership with the Sicilian Irritec Groupamong the world leaders in the design and production of systems precision irrigation and turnkey systems.
With his intervention, SIMEST provided – together with Venture Capital Fund which manages on behalf of the Farnesina – resources for 2.9 million of euros aimed at contributing to the realization of the Irritec’s first production site in Chile. The plant will be dedicated to the production of drip lines and pipes for precision irrigation which allow significant savings in water and energy resources and a lower use of fertilizers and pesticides compared to traditional irrigation techniques, guaranteeing an increase in production efficiency .
The Irritec Group will be able to consolidate his positioning in the local and neighboring markets, expanding the portfolio of available products, reducing delivery times and enhancing on-site assistance services. The high quality of the product and the commitment to sustainable production represent the distinctive features of the Group which has been a Benefit Company since 2022: the company is committed to reducing CO2 emissions by maximizing the efficiency of its irrigation.
SIMEST for its part it was driven by the desire to invest in “Made in Italy” research and development. With the strategic plan 23-25 “Business Impact. Yes, a Pact for growth”, SIMEST has recognized the alignment between sustainability, innovation and business strategy as a priority in determining its strategic choicesand, focusing attention no longer only on risk and return assessments, but also on sustainability assessments. They are, therefore, states environmental, social and governance principles integrated into the SIMEST operating model through which to evaluate investment initiatives, with the aim of creating long-term value.
SIMEST has been participating in the expansion of the Irritec Group in Latin America for over 10 years: a partnership relationship started with a project in 2013 aimed at consolidation on the Brazilian market and continued in 2018 with a new initiative in Mexico.