(Alliance News) - Innovatec SPa announced Wednesday that it has kicked off the "PV Lighthouse" project through its subsidiary Haiki Mines Srl and partners Veritas Spa and 9-Tech Srl.

The "PV Lighthouse" project calls for the construction in Porto Marghera - in Venice - of a state-of-the-art plant capable of processing 3,000 tons per year of end-of-life photovoltaic panels, recovering about 2,500 tons of valuable materials: about 350 tons of aluminum, 2,000 tons of glass, 24 tons of copper ribbons and 84 tons of photovoltaic cells and silicon.

"The plant, which is expected to be operational within 14 months after the completion of the current permitting process, will not only reduce the environmental impact from the disposal of photovoltaic panels, but also pave the way for future developments in the photovoltaic materials recycling industry," Innovatec explained.

"Cutting-edge technology and energy efficiency will be central to the success of this project, demonstrating that sustainability and innovation can coexist to shape a greener and more responsible future."

""PV Lighthouse" will make a tangible contribution to the goals of the NRP and the evolution of the circular economy in the photovoltaic sector, and underscores the Innovatec group's ongoing commitment to exploring and using new technologies to achieve the ambitious goal of recovering as much raw materials as possible from end-of-life products, ensuring an important step forward in implementing the principles of the circular economy, with environmental and economic benefits for the country."

Innovatec's stock is up 0.6 percent at EUR1.29 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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