Geothermal energy company Greentech debuts on the Bucharest Stock Exchange

Green Tech International, owner of one of the largest geothermal well portfolios in Europe and a platform for geothermal energy solutions, marks today, February 7, the debut of share trading on the Regulated Market of the Bucharest Stock Exchange (BVB), under the ticker symbol GREEN. It is the first company to list on the stock exchange this year, following four other bond listings that took place in January.

„Green Tech International has entered the Romanian capital market with the goal of becoming a leading provider of sustainable energy solutions to support the decarbonization of critical EU sectors, particularly Data Centers, Sustainable Horticulture, and District Heating. Through our planned projects, we aim to reduce CO2 emissions by more than 500,000 tons annually. As we scale up in these sectors, this reduction is expected to exceed 1 million tons per year. We deliver eco-friendly thermal energy solutions tailored to sectors with high energy demands, leveraging one of the largest geothermal well portfolios in the EU, with a total installed capacity of 300 MWth. Over the next three years, we plan to invest EUR 500 million in innovative projects, including zero-emission food production, sustainable data centers, and carbon-free district heating systems.”, said Horia Pitulea, CEO Green Tech International.

“We are pleased to see the recent listing of Green Tech on the stock exchange, which shows us that the capital market is a reliable ally in achieving great goals, closely related to sustainability. Green Tech wants to exploit geothermal waters to produce electricity and heat, in addition to the balneo-therapeutic purpose of the resources. The support of this initiative by the stock exchange is proof of maturity and responsibility towards the local economy and, equally, towards the environment. This year has already started strongly in terms of issuers’ concern for sustainability, after a listing of a bond issue linked to sustainability objectives, and now Green Tech joins in, aiming to change the way we relate to geothermal energy.”, said Adrian Tănase, CEO of BVB.

The offer and the stock market debut of Green Tech International on the Regulated Market were carried out with the support of Swiss Capital S.A. The IPO preceding the listing of the company’s shares took place between 19 and 30 December 2024.

According to the prospectus, Green Tech International aims to strengthen its presence in industries that offer optimal synergies, such as sustainable food production, urban heating and cooling solutions for data centers.

The company aims to invest, among others, in the development of the Agroindustrial Geothermal Park in Călimăneşti, Vâlcea, using approx. 23.5 MW of geothermal energy for the heating of the city of Călimăneşti, cold storage facilities and fruit and vegetable processing facilities.