# LLM Context
URL: https://weeg.it/en/press-releases/white-energy-group-obtains-innovative-sme-status-and-aims-to-transform-into-a-joint-stock-company/

# White Energy Group obtains innovative SME status and aims to transform into a joint stock company

> White Energy Group reported growth in the first half of 2022, obtained innovative SME status and began evaluating a transformation from Srl into a joint stock company as part of its growth and investment strategy.

## Page details

- **Source language:** English
- **Content type:** Press release
- **Original title:** White Energy Group obtains innovative SME status and aims to transform into a joint stock company
- **English title:** White Energy Group obtains innovative SME status and aims to transform into a joint stock company
- **Source URL:** https://weeg.it/en/press-releases/white-energy-group-obtains-innovative-sme-status-and-aims-to-transform-into-a-joint-stock-company/
- **Summary:** The page reports White Energy Group's first-half 2022 results, innovative SME recognition, expansion of energy-efficiency and renewable-energy services, and an exploratory path toward becoming a joint stock company.

## First-half 2022 results

White Energy Group reported revenues of **€2 million** in the first six months of 2022, an increase of **€1.2 million** compared with the same period in 2021. The shareholders' meeting reviewed and approved the half-year situation.

The company attributes the result to increased sales across its services. It describes consulting services under the Orange, White and Blue lines, along with directly financed interventions using Energy Performance Contracts and special purpose vehicles under Green initiatives.

## Business expansion

The company states that it is continuing the strategic lines approved in June 2021, expanding its activities to include:

- Energy-efficiency services
- Renewable-energy services in ESCo mode
- Energy Performance Contract models
- Power Purchase Agreements for energy supplied by photovoltaic plants

These activities are presented as part of White Energy's mission to support companies on their sustainability path.

## Innovative SME status

The audited financial statements for the year ended December 31, 2021 reported:

| Metric | Value |
|---|---:|
| Revenues | €2.8 million |
| Profit | €192,000 |

The audit concluded with recognition of **innovative SME** status on May 31.

## Possible transformation into a joint stock company

The shareholders' meeting gave the Board of Directors an exploratory mandate to evaluate transforming White Energy Group Srl into a joint stock company.

The stated objectives include strengthening the capital structure in relation to the credit system and investors and consolidating the Group's structure.

## Special purpose vehicles

White Energy is described as participating in three special purpose vehicles:

- **GES srl** — builds cogeneration plants for electricity and thermal-energy supply to industrial companies.
- **Energia Futura srl** — builds cogeneration plants for electricity and thermal-energy supply to industrial companies.
- **GHS srl** — wholly owned by White Energy and intended to manage direct photovoltaic investments using the Green Solar PPA product.

The potential corporate transformation is also presented as a way to facilitate an employee incentive plan and align the interests of shareholders and management over the medium to long term.

## Person mentioned

- **Gianluigi Mele** — CEO of White Energy Group