DXT Commodities and Terna Forward conclude 2.8 million Euro round of investment in Wesii

Mar 11, 2024 | News, old

The Italian Wesii is a market leader company in inspection and remote-sensing services for the renewable-energy sector, combining aircraft and drones with AI systems.

Terna Forward, the Terna Group company dedicated to Corporate Venture Capital initiatives, has finalised its first direct investment in an innovative small medium enterprise, with the goal of accelerating the energy transition
Rome, 8 March 2024 – Terna Forward, the Terna Group company dedicated to tech innovation and Corporate Venture Capital initiatives, and DXT Commodities S.A. (DXT), a Duferco Group company, announce the completion of a 2.8 million-euro round of investment, through a joint capital increase, in Wesii, an Italian leading company in inspection and remote-sensing services for the renewable-energy sector.
Traditional approaches for inspection of solar and wind systems or power lines involve land-based techniques that can be time-consuming and costly. Since its founding, Wesii has focused on the use of drones and aircraft equipped with high-definition and infrared thermal cameras for the thermographic analysis of renewable plants and electric infrastructure. This provides a high level of accuracy and enables identification and geolocation of any faults. The data gathered by the startup are catalogued, standardised and analysed using AI algorithms and a proprietary platform in order to further improve predictive maintenance and asset monitoring.
The investment in Wesii is the first direct investment in an innovative small medium enterprise by Terna Forward, a company of the Terna Group led by Giuseppina Di Foggia. Terna Forward uses an open-innovation approach to identify and support the most promising enterprises and those with the highest-impact technology for acceleration of the energy transition, including through Corporate Venture Capital investments.

Massimiliano Garri, Terna’s Innovation & Market Solutions Director and Chief Executive Officer of Terna Forward, commented: “We have believed in Wesii right from the beginning. This investment further demonstrates our commitment to support innovative businesses who are leading change. Digitalisation and energy transition are two key themes of our times and Wesii, with its expertise and technology, has the potential to become a leader in the sector. Direct investment in this startup, along with the sharing of know-how enabled by the relationship, represents the optimal solution to innovate and contribute to the sustainable development of Wesii, the Italian economic system and the future of the electricity system.”

Maurizio Cencioni, DXT’s Chief Executive Officer, added “Our further investment in Wesii underlines
our belief in the company and our commitment to innovation and the development of technologies
powered by AI, to drive the transition to cleaner power.”

Terna Forward, established in 2022, is a Limited Partner in the “Energy Tech” and “Infra Tech”
segments of the CDP Venture Capital Corporate Partner I fund, which has already made seven
investments in digital and sustainable technology for the energy transition. The “Corporate Venture”
section of the Terna Ideas website (https://ternaideas.terna.it/), includes further information on Terna
Forward’s investment strategy.