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SIT acquires stake in UpSens (Optoi Group), an innovative SME developing air quality monitoring sensors

January 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.

SIT is attending the 5th Italian MidCap Conference organized by Mediobanca on January 18

January 12th, 2023

Padua, 12 January 2023 – 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 18 is attending the 5th edition of the Italian MidCap Conference organized by Mediobanca. The event will be held in presence in Milan.

CEO and Chairperson Federico de’ Stefani together with Chief Product Officer Tomaso Valdinoci and Investor Relator Mara Di Giorgio will share with investors the latest company news.

Documents for investors are available for consultation on the Company’s website www.sitcorporate.it/en in the “Investor Relations” section.

GWF and SIT set up a Joint Venture for ultrasonic smart water meters for residential applications

November 30th, 2022
  • The ultrasonic smart water meters will be brought to market by the partners and be leading in performance and cost
  • Modern production plants will guarantee high quality based on automated production and testing facilities in Portugal and Switzerland
  • The collaboration aims at supporting water utility customers and municipalities boost efficiencies and accelerate sustainability efforts

Frankfurt, 29 November 2022 – GWF, a pioneer in the development of advanced measuring and metering technologies and SIT, a multinational listed on the Euronext Milan segment of the Italian Stock Exchange and a leading global player in innovative solutions for gas and water meters, have entered into a strategic partnership for the development, manufacturing and distribution of leading ultrasonic smart water meters for residential applications.

SIT, through its subsidiaries MeteRSit and Janz, and GWF have joined forces to support water utility customers and municipalities boost efficiencies and accelerate sustainability efforts at the best total cost of ownership with high performance residential water meters.
In the collaboration, GWF contributes its know-how and IP concerning the innovative and patented 4D technology® with its best-in-class ultrasonic signal processing and highly robust mechanical design. SIT provides to the partnership deep knowledge and expertise in smart meter communication technologies by leveraging its experience with over 7 million smart gas meters installed. The collaboration will also benefit from SIT’s high volume precision manufacturing competence together with access to a global supply chain.

Based on their complementary competences and extensive experience in the water market, the companies will establish a joint venture and launch products that are highly performant, cost competitive and sustainable. The ongoing development of domestic ultrasonic water meters is aiming for unmatched measurement accuracy paired with flexible communication to ensure future-proof products that provide actionable and granular data to customers. To ensure highest quality and scalability at optimized cost, the companies will jointly build up state-of-the-art production and testing facilities in Portugal and Switzerland.

SIT will present at Enlit the new range of water meters branded Janz

November 27th, 2022

In Frankfurt the group will present 4 new smart metering solutions for both water and gas. The new Domusnext Vision gas meter with innovative IoT solutions will also be revealed

Padua, 26 November 2022 – The measurement of water and gas consumption in our homes thanks to the residential meter is becoming more and more smart.
Connectivity, technology, and sustainability are in fact the main features of the 4 new solutions for water and gas meters that SIT, a multinational leader in the heating and metering sectors, will present at Enlit, the main European trade fair dedicated to the technologies and innovations for utilities.

Concerning water metering, SIT will present the new range of smart water meters branded Janz. The new range is the result of the integration of electronic and communication technology competence of MeteRSit, company of SIT group specialized in smart gas metering, combined with the water metrology competence of Janz, a company acquired by SIT in 2020 specialized in water metering. The new range, that allows to connect meters to utilities’ smart grids, thus permitting an improved grid management and a reduction in waste, consists of:

• “eRegister”, a fully integrated meter that combines in a single product volumetric metrology, Janz’s strength, with communication technology.
• “add-on radio module” which applied to traditional Janz mechanical meters allows measurement to be communicated, effectively transforming them into smart meters.

Both solutions integrate the most used communication protocols and technologies on the market and can be connected with the proprietary IoT application “MyWater” or with customers’ proprietary applications.

“With the launch of Janz smart water meters we complete a further stage in the development path declared on the occasion of the acquisition of Janz, while confirming our commitment towards sustainability. Our solutions are in fact designed to improve the precision in consumption measurement and support water utilities’ smart grids; last but not least, to safeguard water, a natural resource that is becoming increasingly scarce and therefore precious” stated Tomaso Valdinoci, Chief Product Officer of SIT.

SIT is attending Enlit Europe 2022 in Frankfurt

November 15th, 2022

Padua, November 15, 2022 – The metering division of SIT group, consisting of subsidiaries MeteRSit and Janz, is attending from November 29 to December 1 Enlit Europe, one of the largest conference and exhibition events dedicated to the entire energy ecosystem, to explore topics such as energy transition, decarbonization, energy resilience, and digitalization. It is one of the most important events in the industry; in this edition, SIT will present new smart and measurement solutions both for water and gas meters.

SIT’s participation at Enlit Europe is consistent with SIT’s mission and vision, which focuses on the sustainability of the planet and the solutions to achieve it. In this sense, the goals of the COP27 conference – in particular, to accelerate the decarbonization process – are also absolutely aligned with those of SIT which, thanks to the ability of its products to measure energy consumption precisely and to manage climate control conditions, has taken a proactive role towards the ecological transition and the fight against water and gas waste consumption.

Briefly – SIT will be exhibiting at Enlit Europe in Frankfurt with MeteRSit and Janz teams at booth 12.1 B60 from November 29 to December 1, 2022. For more information, you can visit the official Enlit Europe 2021 website.

SIT joins the United Nations Global Compact

November 14th, 2022

Chiara de’ Stefani (Corporate Sustainability Director of SIT): “We confirm our commitment to building a sustainable future”

Padua, November 22, 2022 – Also SIT is a part of the United Nations Global Compact, the global network which constitutes the largest corporate sustainability initiative in the world, and which is joined by more than 18,000 companies and organizations based in over 160 countries. A voluntary leadership platform for the development, implementation, and communication of sustainable business practices, in line with the Sustainable Development Goals (SDGs) set by the United Nations 2030 Agenda.

The goal of the United Nations Global Compact is to encourage businesses around the world to contribute to an economic, social, and environmental framework that promotes a healthy and sustainable world economy from which all can benefit. To this end, the United Nations Global Compact requires participating companies and organizations to share, support, and apply, within their sphere of influence, a set of fundamental principles in the areas of human rights, labour, environment and anti-corruption:

SIT focuses on mental health Enhanced corporate welfare and flexible work

October 21st, 2022

Padua, 20 October 2022 – From the adoption of smart working in pre-pandemic times to the activation of the Psychological Helpdesk for plant employees up to the abolition of badge scanning in all corporate offices of the group, SIT has always established itself as a company that promotes flexible work in an environment based on trust, commitment, and responsibility.

With the end of the Covid 19 emergency, SIT – which employs 2,500 people worldwide, almost 60% of whom are women – has decided to promote smart work structure and flexible work as a pillar of personnel management and to take care of the mental health of its employees by engaging numerous welfare and wellbeing initiatives.

“In this, we are closer to Anglo-Saxon models, which have been dealing with the psychological and emotional health of employees for years,” comments Roberta Fagotto, Human Capital Director of SIT. “It is a delicate point because there are those who believe very much in the importance and influence of this element in work, and those who believe that the quality of work is not affected by the effects of an employee who is uninspired, or unhappy, or who is for any reason external or internal to the company in trouble. In Italy, this type of discussion began in the post-pandemic but has yet to really open up and there are very few best practices. Therefore, we are proud to be able to offer our people and those who evaluate us – potential colleagues or other stakeholders – a welfare plan that focuses heavily on mental health “.

The “Wellbeing in the Company” program contains 3 blocks of initiatives that are accessible digitally, remotely, during working hours, and varying according to the target staff. Among these, there are workshops on rebalancing and meditation techniques (such as mindfulness, zen, yoga, and disconnect to recharge) to better manage stressful situations, aimed at giving psychological benefits by focusing on mind/body balance.

SIT employees will also be able to book appointments with a psychologist during working hours, designed to support the well-being of the individual in the company. “We have had very positive results from the experimentation of the Psychological Helpdesk carried out in our main Italian plant and we have decided to extend it to all colleagues,” says Fagotto.

SIT selected by Italgas to design the smart meters of the future

September 7th, 2022

Padua, September 7, 2022 – MeteRSit, a SIT Group company, will design Italgas Reti’s next-generation smart meters.
MeteRSit will develop the product from thermo-mass technology, in which it is a world leader, allowing accurate measurement in any conditions, without the need for external conversion devices, as is now the case with other technologies. Accuracy is guaranteed in fact for a variety of uses: natural gas, biomethane and hydrogen, both pure and “blended” with natural gas blends.
In addition to its design, a field test phase of at least 12 months is planned with the installation of 10 thousand meters across Italy. The overall duration of the project and testing will be approx. 24 months.
“We are pleased to announce this agreement, which for SIT recognises the work and investments made over recent years. In fact, the Group has invested more than Euro 11 million, half of it in R&D alone, leveraging technology and precision as key success factors” stated SIT Chairperson and CEO Federico de’ Stefani. “This is particularly good news for our country and for all end consumers. In fact, this new generation of meters will contribute to a more conscious management of energy consumption and facilitate a transition to the use of pure hydrogen or gas blends.”
MeteRSit is the first company in Italy to focus on thermo-mass meters and has thus far installed more than 6.5 million worldwide. MeteRSit combines high-precision metrological, information, electronic, communication and mechanical technologies in its meters.

CO2, SIT obtains certification on the Carbon Footprint

June 1st, 2022

Padua, 01 June 2022 – SIT continues its ESG path and adds another fundamental element to its sustainability roadmap, namely the certification of the Product Carbon Footprint management system (CFP Systematic Approach).

Bureau Veritas Italia, a world leader in inspection, compliance verification, and certification services, has certified SIT’s systematic approach to analyzing the life cycle of products, in a “cradle-to-gate” logic in line with the standards required by ISO 14067: 2018. The systematic approach makes it possible to calculate the emission values related to the individual products offered, but also to carry out scenario simulations on the products under development in order to adopt the optimal technical, production, and logistic solutions from a CFP perspective.

The process is therefore an officially recognized tool available to the company for achieving the emission reduction targets.

Chiara de’ Stefani, Corporate Sustainability Director of SIT, comments that “The management of CO2 emissions plays a central role in our sustainability strategy”. “The adoption of the CFP Systematic Approach measurement standard for the certification of our results, in addition to certifying our progress in a qualified and independent way, provides us with a management tool, a real operational tool to assess the carbon impact of our decisions. A know-how that has become a corporate asset, in which we will continue to invest “.

As an initial field of application, SIT has chosen to focus on three product lines of the Heating division: mechanical controls, fans, and electronic controls.
The certificate is valid until 2025 and includes the Italian plants of Rovigo, Montecassiano, and Padua; abroad, the factories included in the certification are in Romania, China, Mexico, and the Netherlands.

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