The shares of Green Tech International S.A. (GREEN), the owner of one of the largest portfolios of deep geothermal wells in Europe, started trading on the Bucharest Stock Exchange (BVB) on February 7.

It is the first company to list at BVB this year, following four other bond listings in January.

It comes after the company completed its Initial Public Offering (IPO) on BVB's Regulated Market in December of last year. The offering, priced at RON 15.00 per share (approximately EUR 3 per share), values the company at RON 1199 million (EUR 241 million). The IPO was managed by Swiss Capital S.A.

"Green Tech International has entered the Romanian capital market with the goal of becoming a leading provider of sustainable energy solutions to support the decarbonization of critical EU sectors, particularly Data Centers, Sustainable Horticulture, and District Heating. Through our planned projects, we aim to reduce CO2 emissions by more than 500,000 tons annually. As we scale up in these sectors, this reduction is expected to exceed 1 million tons per year. We deliver eco-friendly thermal energy solutions tailored to sectors with high energy demands, leveraging one of the largest geothermal well portfolios in the EU, with a total installed capacity of 300 MWth. Over the next three years, we plan to invest EUR 500 million in innovative projects, including zero-emission food production, sustainable data centers, and carbon-free district heating systems," Horia Pitulea, CEO of Green Tech International, said.

"We are pleased to see the recent listing of Green Tech, which shows us that the capital market is a reliable ally in achieving great goals, closely related to sustainability. Green Tech wants to exploit geothermal waters to produce electricity and heat, in addition to the balneo-therapeutic purpose of the resources. [...] This year has already started strong in terms of issuers' concern for sustainability, after a listing of a bond issue linked to sustainability objectives, and now Green Tech joins in, aiming to change the way we relate to geothermal energy," said Adrian Tanase, CEO of BVB.

Green Tech International manages 83 deep geothermal wells - 42 directly owned and 41 under management - comprising one of the largest portfolios in Europe.

(Photo: George Calin/ Inquam Photos)

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