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|In its press release of 7 February 2023, AlgoWatt, a GreenTech Company listed on the Euronext Milan market of Borsa Italiana (the Italian Stock Exchange), announced that it has been awarded funding of approximately € 0.50 million for Digital Energy solution provider and system integrator activities on the new MASTERPIECE innovation project on Renewable Energy Communities under the Horizon Europe program.|
The MASTERPIECE Project (Multidisciplinary Approaches and Software Technologies for Engagement Recruitment and Participation in Innovative Energy Communities in Europe) was born with the idea of creating a digital arena of coordination and cooperation to accelerate the creation and operation of Renewable Energy Communities (RECs) throughout Europe; it has a total duration of 42 months with a total investment of € 7.00 million, and will be led by the University of Murcia (ES) together with 18 partners. The objectives of the project are:
to develop technical and social innovations to empower traditional energy consumers and to make them active agents of collaborative energy communities;
to propose new business strategies and incentive mechanisms that activate the reactions of market participants craving for business opportunities that imply energy use and cost reduction;
to configure a standardized and sound cyber-security infrastructure so the active citizens are protected against cyber-attacks, at the same time that privacy is defended in accordance with the revised EPBD and the GDPR law;
to demonstrate the applicability and replicability of methodological, technical and business innovations in a variety of real life pilots in different geographical locations, with heterogeneous social and economic environments and different regulatory/administrative frameworks.
As part of these activities, algoWatt, in line with the product development roadmap for business solutions, will lead the development of tools for interactive simulations to support decisions for sustainable energy investments in the RECs and for the management of their governance and operation.
While waiting for the evaluation of the evolution of the projects launched in relation to the energy communities and the publication of the economic results as of 31 December 2022, we confirm our recommendation: BUY rating, Target Price € 1.50, and MEDIUM risk.