Pirelli & C.

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Pirelli Ambiente

The company operates in the environmental field, through investee companies, in the following specific sectors: production of photovoltaic electricity, environmental regeneration, production of high-quality fuel deriving from urban solid waste and energy certification. In 2009 the company recorded negative operating income of Euro 3.7 million and negative net income of Euro 5.3 million.

Photovoltaic

Solar Utility S.p.A. continued its work on the development of its business completing and connecting during the year approximately 6 MW of which 50% located in the province of Potenza in Basilicata and the remaining 50% in the province of Lecce in Puglia. The company plans to continue its operational business and, by the end of 2010, to bring on-stream systems for a total power output of approximately 11 MW. During the last quarter of the year 50% of the company was acquired from Global Cleantech Capital (GCC) for an amount of approximately 8 million euro, meaning that Pirelli & C. Ambiente S.p.A. now holds 100% of the company.

Environmental remediations

During the year Pirelli & C. Ambiente Site Remediation S.p.A. continued its business in the complete management of problems of an environmental nature with reference mainly to Group companies and their affiliates and to external customers, with particular regard to the work of Environmental Due Diligence, assessment, design and management of demolition work and remediation carried out through specialized companies authorized for such work, and of Energy Certification of buildings.

Production of high-quality fuel from refuse

The work of production of high-quality fuel (CDR-P) was carried on during the year through the associate I.D.E.A. Granda S.Cons.R.L., which processed for energy recovery 22,212 tonnes of refuse derived fuel compared with 18,616 tonnes in the previous year.

The business of trading Energy Efficiency Certificates (EECs) was carried on by the affiliate Serenergy S.r.l.. The year was characterized by the obtainment of EECs relating to the years 2007 and 2008 and by trading on the electronic market of the Electricity Market Manager of 4,500 certificates.

Energy Certification

On December 16, 2009 the company Green&Co2 S.r.l. - wholly owned by Pirelli & C. Ambiente S.p.A. - was incorporated. The new company, with share capital of Euro 10,000, will operate as an energy service company promoting the optimization of energy consumption and the reduction of pollutant emissions.