Greenvolt, a renewables company focused on the production of sustainable energy from biomass, announced to the markets the launch of an Initial Public Offering (IPO) with the objective of financing growth.

Owned by Portuguese pulp producer Altri, Greenvolt said it would offer new shares to institutional investors in an IPO.

The 150 million IPO, with an additional component of 56 million for a possible capital increase that will allow the acquisition of the Polish development platform V-Ridium, giant in solar and onshore wind, will be materialized with the issuance of new common shares of the company , aimed at qualified investors.

Greenvolt is the largest company in Portugal working in the area of ​​energy production from biomass, with a market share of 48% and a considerable portfolio that generated, in 2020, around 732.6 GWh of energy

Greenvolt also expects its net profit to grow at a compound annual growth rate of 40% between 2021 and 2025, after booking a profit of 17.9 million euros in 2020.