Buttol Srl signed a preliminary contract to acquire biodigestion and biomethane production plant in Calimera from TerniEnergia S.p.A. (BIT:TER) for €2.9 million on January 6, 2020. The consideration shall be paid in cash. As per the contract, Buttol Srl shall deposit €0.05 million upon signing of contract and an additional down payment of €0.3 million to be paid in trust account on January 20, 2020. The transaction is subject to the successful completion for the inclusion of the transaction in the TerniEnergia recovery and re-launch plan. The transaction is expected to close in the month of March 2020. As of March 31, 2020, the transaction closing has been extended by a further 60 days. The extension was decided due to the non-fulfillment of the condition precedent of successful completion of the obligations for the inclusion of the transaction in the recovery and re-launch plan of algoWatt. As of June 1, 2020, the transaction is expected to be completed until June 30, 2020. The extension was decided in consideration of the appraisal and due diligence activities still in progress. As of June 30, 2020, transaction is expected to complete by July 8, 2020. The extension was decided in consideration of the appraisal and due diligence activities still in progress, which were prolonged due to the COVID-19 crisis. Buttol Srl completed the acquisition of biodigestion and biomethane production plant in Calimera from algoWatt S.p.A. (BIT:ALW) for approximately €2.8 million on July 7, 2020.