SIT acquires stake in UpSens (Optoi Group), an innovative SME developing air quality monitoring sensorsJanuary 17th, 2023
Padua, January 17, 2023 – SIT, a multinational listed on the Euronext Milan segment of the Italian Stock Exchange which creates intelligent solutions for the control of environmental conditions and consumption measurement, announces the acquisition of a stake in UpSens, an innovative SME based in Trento and belonging to the Optoi Group, specialising in the development of devices for monitoring indoor environmental parameters, both in standard and custom versions, with specific expertise in air quality. The transaction was completed through a share capital increase after which SIT holds a 10% stake in UpSens.
Basis of the transaction – The pandemic has brought an awareness that the ongoing monitoring of air quality, noise, and brightness in indoor environments, as well as the automated control of the systems involved in their management (air conditioning, heating, and ventilation), are a basic requirement for people’s health. A focus upon health and well-being in indoor environments is growing: in Italy and other industrialised countries, people spend about 90% of their time indoors, where the air can be as much as 5 times more polluted than outdoors. Smart buildings have therefore grown in popularity over recent years, involving the digital and automated connection, thanks to IoT and home automation, of residential and office buildings, which therefore become “intelligent”, capable of monitoring quality parameters and managing in an automated way the systems that make an indoor space healthy.
Major synergies will arise from the collaboration between SIT and UpSens in the area of air quality solutions, particularly in the CMV (Controlled Mechanical Ventilation) segment. VMC solutions enable air exchange and filtration and, through heat exchange between the outgoing and incoming air, improve the thermal efficiency of buildings. SIT is already a supplier of control electronics for the CMV segment and plans to further expand its range over the coming years. The partnership with UpSens is part of this strategic development path for the segment.