(Alliance News) - Innovatec Spa and BF Spa Tuesday announced the launch of an important strategic partnership to develop and offer integrated solutions for energy efficiency systems for the agritech market.

"The industrial and technological partnership project in particular will involve a set of activities designed to implement energy innovation in agriculture and joint investments in R&D that will result in the evolution and development of smart energy efficiency plant systems and services that enhance the value of production waste and the increase in the amount of recovered materials by bringing the world of agritech closer to that of energy efficiency," reads the released statement.

To consolidate and develop this alliance, Innovatec bought EUR2.5 million a minority stake in Arum Spa in whose membership includes Coldiretti and several prominent investors in the national agribusiness and financial scene, BF's current relative majority shareholder at 21.89 percent.

Innovatec on Tuesday trades up 6.9 percent at EUR1.38 per share while BF is giving up 0.8 percent to EUR3.76 per share.

By Maurizio Carta, Alliance News reporter

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