The UK government has announced its long awaited hydrogen strategy and also launched a consultation on funding hydrogen production. The strategy confirms support for both green and blue hydrogen production as well as for the replacement of natural gas in around 3m homes…
SIT acquires the NGA product line from Emerson Electric and enters the market for electronic valves for storage water heaters.
Federico de’ Stefani (Chairman and CEO of SIT): “Our goal is to accelerate growth in the US market”.
Padova, 2021 June 23 – SIT, a technology company listed on the MTA market of the Italian Stock Exchange (SIT:IM) that creates smart solutions for controlling environmental conditions and measuring consumption, will be present from 24 to 26 June 2021 at Hpbexpo, the largest indoor-outdoor event in North America, in virtual mode. Every year thousands of retailers and companies participate in the event to discover new trends and technologies related to the production and sale of fireplaces, patio heaters, wood / pellet / gas and electric stoves, accessories for barbecues, grills and garden furniture.
For the occasion, SIT will be able to meet customers and visitors in its virtual booth, which can only be accessed after registering for the event.
CEO Federico de’ Stefani: “We have introduced a share-based incentive plan to strengthen the relationship between governance and management in order to create sustainable value for the entire organisation and ensure that we attract and retain key resources.”
SIT for Q1 2021 reports:
Padua, May 3, 2021 – SIT S.p.A. (SIT:IM), a multinational listed on the Italian Stock Exchange that creates intelligent solutions for the control of environmental conditions and consumption measurement, on May 4 and 5 is taking part in the roadshow organized by Longspur to dialogue with British institutional investors. Longspur published on April 22 the initial coverage of SIT (available here) indicating a Euro 11,5 target price stressing the positioning of the company as world market leader, the great opportunity deriving from the acquisition in the water sector and the upside coming from the starting of the “hydrogen economy”. In fact, for the first hydrogen houses that are being built in the United Kingdom, MeteRSIT, a SIT Group company that develops and manufactures intelligent gas meters and which is working on an experimental hydrogen gas meter as part of the British government’s Hy4Heat programme, was chosen from among producers of meters that will enable the safe distribution of hydrogen. This was thanks to the DomusNext® H2 meter that allows consumption data reading. Also installed in the houses are Worcester Bosch hydrogen boilers that use hydrogen power safety valves developed by SIT.
Padua, May 3, 2021 – Prototype hydrogen meters produced by MeteRSit, a company specialising in smart metering and part of the SIT S.p.A. group, will be installed in the first houses powered entirely by hydrogen.
The houses, located at the Northern Gas Networks’ (NGN) site at Low Thornley, close to Gateshead in northern England, will demonstrate the use of appliances and heating and cooking systems powered entirely by hydrogen. Construction is expected to be completed by the end of May, 2021.
Padua, January 27, 2021 – SIT S.p.A., a multinational listed on the Italian Stock Exchange which, through its Heating and Smart Metering divisions, creates intelligent solutions for the control of environmental conditions and consumption measurement, reports consolidated core sales of Euro 317.7 million for 2020, a reduction of 8.9% on Euro 348.7 million for 2019 – limiting the COVID impact and hitting the pre-announced targets.
Q4 2020 core sales of Euro 92.8 million, up 5.0% on the same period of 2019 (Euro 88.4 million).
Padua, January 12, 2021 – SIT S.p.A. (SIT:IM), a multinational listed on the Italian Stock Exchange that creates intelligent solutions for the control of environmental conditions and consumption measurement, on January 13 and 14 is taking part in the ISMO (Italian Stock Market Opportunity) virtual conference organized by Banca IMI to dialogue with Italian institutional investors.
December 1, 2020 – SIT S.p.A. (SIT:IM), a multinational listed on the Italian Stock Exchange
that creates intelligent solutions for the control of environmental conditions and consumption measurement, on December 1 and 2 is taking part in the Mid&Small Virtual Conference organized by Virgilio IR to dialogue with institutional investors, both Italian and International.
Padua, 24 November 2020 – SIT brings to Brussels the Italian expertise in the development and research of sustainable solutions for boilers and smart meters that also use hydrogen. The multinational based in Padua has in fact been selected to become part of the European Clean Hydrogen Alliance, an organization that brings together companies, associations, regulators, public and private entities with the aim of actively supporting the commitment of the EU to achieve carbon neutrality by 2050 thanks to the boost of hydrogen, the new “green oil”. SIT will sit in the Alliance together with important companies in the Italian scenario such as Snam and Confindustria: the goal of the alliance is also to develop an action plan for hydrogen in Italy, in line with the targets expected at EU level, or 13-14% of the European energy mix by 2050, starting from the current 2%. The first phase of the EU strategy for clean hydrogen (which runs from 2020 to 2024) aims to decarbonize the current European hydrogen production, with at least 1 million tons of renewable hydrogen and the installation of at least 4 GW of electrolyzers.
