Posted on 1/4/2016
Vancouver, Canada based renewable energy developer, Reservoir Capital (tsx venture:REO, frankfurt:ROC, berlin:ROC) has entered into a Letter of Intent with Italian tile maker Saxa Gres to develop recycling, manufacturing, waste to energy and renewable energy businesses in Italy
Under the terms of the LOI, Reservoir can acquire a 35% interest in Saxa Gres and a 65% interest in a new spinout company, Saxa Energy, by providing technical and financial support.
Saxa Gres has agreements to acquire and refinance the assets of Area Industrie Ceramiche (AIC), a ceramic floor and roof tile factory located outside of Rome.
The factory is in the proc...