2023.01.16 Press releases

FAMUR with new business structure turns into GRENEVIA

FAMUR with new business structure turns into GRENEVIA

Grenevia will operate on the basis of a new business structure. It will include four independent segments conducting business based on: large-scale photovoltaics – Projekt-Solartechnik, battery systems – IMPACT Clean Power Technology, solutions for the power distribution industry – Elgór+Hansen, as well as products and services for the mining and wind power industry – FAMUR. The new structure and name come as a result of accelerating the implementation of the Group’s green transformation process. The long-term goal of Grenevia is to help build low-carbon and sustainable economy.

The Group also announced its Sustainable Development Strategy for 2023-2030.
By 2030, Grenevia will reduce greenhouse gas emissions by 40% in its current operations, avoiding emissions of up to 2.3 million tonnes of CO2 – as a result of the development of new business segments. By the end of 2024, the company also aims to generate some 70% of its revenues from sources other than steam coal, and to change its energy mix, which will be based on renewable energy sources in approx. 35%.

FAMUR, after changing its name to Grenevia, will integrate and grow the activities of four business segments: large-scale photovoltaics and PV solutions for business concentrated in Projekt Solartechnik; battery systems, power storage and electromobility as part of IMPACT Clean Power Technology; modern automation equipment for the industry, as well as solutions for the power distribution industry as Elgór+Hansen, while technologies and products for the mining and wind power industries will remain part of the FAMUR brand.

Based on the new strategic directions announced in 2021, the FAMUR Group has consistently diversified its business activities, transforming itself into a holding company investing in green transformation. The first step was to enter the large-scale photovoltaics and PV solutions for the B2B industry in 2021. In 2022, in turn, the Group became involved in the wind power sector, building on its long experience and expertise in designing and building equipment for the industry. In the same year, the Group also invested in another promising area of RES – battery systems, electromobility and power storage.

2022 also marks the business diversification of Elgór+Hansen. The company has entered the field of solutions for the power distribution industry, for instance – building transformer stations for RES. This created a diversified holding company and its development required the definition of a new organisational framework.

The new structure and name of the holding company marks the opening of a new chapter in our history, which we are entering with a clear vision of who we want to be and how we intend to achieve the goals we set for ourselves. In this clear structure, we want to focus on building the value of individual areas and thus actively support the construction of a low-carbon economy. The name, in turn, directly alludes to the green (Grene) path (via) we are taking as a company in connection with the new direction announced in May 2021 – saysMirosław Bendzera, CEO of FAMUR SA.

We are aware of the social, environmental and economic responsibilities of our organisation, as well as the current macroeconomic situation, thus the announced Sustainable Development Strategy – an expression of our ambitions and a declaration of active sustainability efforts that remain consistent with our Group’s business strategy – he adds.

Grenevia has ambitions to be an attractive platform for stock market investors to invest their funds in projects benefiting from the green transformation trend. At the same time, the Group will continue to raise green financing using the optimal solutions available on the market.

Grenevia will focus in particular on further transformation in an even manner – considering economic, environmental and social aspects. Acting on the basis of the principles of sustainable investment, it will support portfolio companies in financial and organisational terms, as well as in the implementation of further M&A transactions. One example of this approach may be the acquisition and commencement of project financing for the construction of photovoltaic farms by Projekt-Solartechnik.

TDJ, as a stable and long-term investor in the FAMUR Group, has successfully supported it over the years to become a leader in the mining machinery market. The time has now come for new goals. For the past two years, we have been supporting the company in its green transformation process. Today is a symbolic day when we give this new green path a name – Grenevia. We want the company to become an shining example of a well-planned and implemented transformation, in which, with respect and care for existing customers, we focus on building an entirely new business for the benefit of the environment, employees and shareholders – comments Tomasz Domogała, Chairman of the Supervisory Board and owner of TDJ.

Grenevia Group Sustainable Development Strategy for 2023-2030

The implementation of the Sustainable Development Strategy is expected to have tangible and positive effects on the company’s business and its surroundings.

Its primary goals include:

  1. Avoiding emissions by 2030 up to 2.3 million tonnes of CO2, as a result of developing new business segments.
  2. Reduction of greenhouse gas emissions (in Scopes 1 and 2) by 40% by 2030, compared to 2021.
  3. Changing the Group’s energy mix – approx. 35% of the energy used to come from RES by the end of 2024.
  4. Changing revenue structure – by the end of 2024, some 70% of revenue is expected to be unrelated to the steam coal industry, mainly due to the development of new business segments.
  5. By the end of 2025, relationships with 70% of relevant suppliers are to be based on Grenevia’s Sustainable Development Code.

The strategy is based on five pillars that reflect sustainability from Grenevia’s perspective. At the same time, they define the scope of future activities in this area. Their selection follows an in-depth analysis of global megatrends, led by the paradigm of emissions reduction and responsible use of resources, which are catalysts for the energy transition of the global economy. The strategy directly supports the UN Sustainable Development Goals, reinforcing the Group’s commitment to solving global problems. 22 implementation projects were defined as part of the Strategy.

We are proud to have supported the company in its landmark transformation process. This is one of the first projects in the region that so comprehensively and explicitly embeds sustainability into the organisation’s DNA and operations. And at the same time, it clearly indicates how the Group wants to build long-term value for the business and its stakeholders, contributing to improving the quality of the environment in which we live. We believe that the implementation of the Sustainable Development Strategy, which has already begun, will solidify the Group’s position as a leader in green transformation and will serve as a benchmark for others – says Marcin Witkowski, manager of EY.