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DateInvestorsAmountRound
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7.3x EV/Revenue

-14.0x EV/EBITDA

round
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€70.0m

Grant
Total Funding000k

Financials

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Revenues, earnings & profits over time
EUR2019202020212022202320242025
Revenues0000000000000000000000000000
% growth31 %(45 %)205 %403 %65 %43 %56 %
EBITDA0000000000000000000000000000
% EBITDA margin(41 %)(90 %)(52 %)(22 %)(7 %)(2 %)7 %
Profit0000000000000000000000000000
% profit margin(74 %)(137 %)(81 %)(23 %)(16 %)(21 %)(9 %)
EV0000000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget0000000000000000000000000000
R&D % of revenue11 %14 %-3 %---

Source: Company filings or news article, Equity research estimates

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More about NHOA
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NHOA S.A., formerly known as Engie EPS, operates as a key player in the global energy storage and e-mobility sectors, positioning itself at the forefront of the transition to sustainable energy. The company, through its primary business unit NHOA Energy, specializes in the design, development, and delivery of turnkey battery energy storage systems (BESS). These systems are crucial for grid stability and for transforming intermittent renewable energy sources like solar and wind into reliable, 24/7 power supplies. NHOA's history traces back to its origins as Electro Power Systems (EPS), which was founded in 2005 as a spin-off from the Polytechnic University of Turin by a group including Paolo Verrone, Luca Piegari, and Laura Coppo. A significant milestone occurred in 2018 when ENGIE acquired a majority stake, rebranding the company to ENGIE EPS. The next major transformation took place in 2021 when Taiwan Cement Company (TCC) acquired a controlling stake from ENGIE, leading to the current name, NHOA, which stands for New Horizons Ahead.

The company's business model revolves around acting as a system integrator and technology provider. It serves a diverse client base that includes utilities, independent power producers, and commercial and industrial clients. NHOA generates revenue by engineering, procuring, and constructing these large-scale energy storage projects. With an operational footprint spanning five continents and offices in the UK, US, Taiwan, and Australia, NHOA has deployed or has under construction over 2.5 GWh of energy storage capacity. The company maintains its research, development, and manufacturing activities in Italy, underscoring its deep engineering roots. The leadership, including CEO Carlalberto Guglielminotti, has steered the company through its significant acquisitions and rebranding, focusing on expanding its global reach and technological capabilities in energy storage and e-mobility infrastructure. This strategic direction leverages the industrial backing of TCC to accelerate growth in a rapidly expanding market for clean energy solutions.

Keywords: energy storage, battery systems, e-mobility, system integrator, renewables, microgrids, grid stability, electric mobility, sustainable energy, clean-tech

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Investments by NHOA

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Elvi Energy
ACQUISITION by NHOA Jan 2016