INNOVA S.r.l. has signed a capital and business alliance agreement with Panasonic Heating & Ventilation A/C Company that acquires 40% of the total shares of INNOVA. Thanks to this agreement both companies will promote a global collaboration in the production, sales and especially in the technological development of hydronic systems (such as hot water for heating and cooling), air conditioning and ventilation activities.
INNOVA is a leading Italian company in the production of hydronic systems and air conditioning equipment. It offers a diverse range of products including fan coils and heat pumps for hydronic systems, centralised ventilation systems (heat exchangers), integrated centralised air conditioning, and IoT-controlled systems. Panasonic, at the same time, is active in Europe in air-to-water heat pumps and domestic air conditioners, commercial variable refrigerant flow systems, packaged air conditioners and hydronic systems from Systemair AC, which was acquired last year.
The agreement, therefore, is established in this business context and creates a strong synergy in terms of commercial and capital alliances between INNOVA and Panasonic, who combine their respective resources to improve technological development and production facilities. The intention is to promote projects and new solutions that meet the different needs of customers, provide comfort, save energy, require minimal installation and will be architecturally harmonious, while maintaining a higher added value. This will accelerate the deployment of excellent interior spaces optimised for Europe, as well as the realisation of ESG management.
INNOVA founder and CEO Oreste Bottaro commented: “I realised that combining our talents and creative spirit with Panasonic’s resources as an industry leader was the right way to continue to grow and prosper amid global competition. I appreciate Panasonic for expressing confidence in our capabilities and aptitude as entrepreneurs and investing in us as a strategic partner in respect of our historical relationship since our foundation. Based on the philosophy of this partnership, INNOVA can not only continue to develop ideas to create unique new products, but also realise solutions for more comfortable living in the future with the global technology support that Panasonic will provide.”
Masaharu Michiura, President of the Heating & Ventilation A/C Company, said: “We started our cooperation with INNOVA years ago through the mutual purchase of A2W heat pumps and fan coils. Based on the increased understanding of each other’s strengths and corporate culture, we decided that capital-business alliances would accelerate the search for the best solutions for the customers and employees of both companies, combining INNOVA’s extensive know-how in hydronics for European homes, ventilation expertise and iot solutions to complement both with Panasonic’s. In this way we will be able to provide the high value-added solutions our customers want.”
