(Alliance News) - Avio Spa announced Monday an agreement with T4i, a University of Padua spin-off based in Monselice and specializing in innovative propulsion systems for aerospace applications, to make a strategic qualified minority investment in the capital of T4i.
T4i was founded in 2014 by a team led by Daniele Pavarin and, Avio explains, "over the years it has demonstrated expertise and excellence in the development of propulsion technologies, growing fast and working on ambitious programs in partnership with ESA, ASI and CNR as well as several Italian and foreign companies including Avio itself."
The investment was realized through Avio's subscription to a dedicated capital increase, resulting in Avio's shareholding of about 17 percent of T4i's shares, against an investment of about EUR2.5 million. It is, in addition, in the process of signing commercial and technological development agreements aimed at the development of new space technologies.
The investment will enable T4i to continue its growth path through investments in human capital and in its facilities.
Avio CEO Giulio Ranzo commented, "The T4i transaction is an important step in the growth of the Avio Group's competencies in space propulsion, particularly in green "storable" chemical propulsion systems, electric propulsion systems and attitude control thrusters. The 'agreement will help improve the effectiveness and time-to-market for the introduction of new propulsion systems functional to the strategic plan, thanks to T4i's agility and expertise and synergies with Avio's infrastructure and system vision. It also represents a further step in the creation and enhancement of competence centers distributed throughout the country, but functional to the group's development plans."
Avio's stock on Monday closed 2.6 percent in the red at EUR8.86 per share.
By Chiara Bruschi, Alliance News reporter
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