Hera Group and Caviro together until 2035 with Enomondo, a joint venture that sets an example in agri-food waste recovery
Search Bar
Asset Publisher
Hera Group and Caviro together until 2035 with Enomondo, a joint venture that sets an example in agri-food waste recovery
A new ten-year agreement has been signed between subsidiaries Herambiente and Caviro Extra for joint management of composting, cogeneration and photovoltaic plants: every year, over 230,000 tonnes of biomass are transformed into energy and natural fertilisers. Further investments have been planned to reduce emissions and increase the value of the products. This shared Emilia-Romagna industrial model is thus confirmed as an exemplary case of symbiosis between the waste management and wine-growing sectors.
The Hera Group, through its subsidiary Herambiente – the Italian leader in integrated waste management – and Caviro Extra – a circular company specialising in the recovery of agro-industrial waste from the Caviro Group, Italy’s foremost wine cooperative – have signed a renewal of the framework agreement, extending Enomondo, a joint venture on an equal basis, until 2035. This company, based in the reference territory in Faenza (Ravenna), operates in biomass recovery for renewable energy and natural fertiliser production.
The agreement confirms the two partners’ commitment to strengthening an integrated industrial supply chain model that makes Enomondo one of Italy’s leading hubs applying the circular economy to agri-food. Over the next ten years, new investments have been planned to increase plant efficiency, technological innovation and environmental performance.
A shared commitment to sustainable development in Emilia-Romagna
The renewal of the partnership confirms Caviro Extra and Herambiente’s desire to contribute to the sustainable development of the Emilia-Romagna region by promoting local recovery chains, reducing emissions and ensuring maximum transparency in environmental management. Enomondo currently manages an integrated system that includes a 13.7 MWe biomass-fuelled thermoelectric power plant, composting plants that produce three different types of soil improvers, two plants for municipal green waste shredding and three photovoltaic plants (two under construction) with a total capacity of 1.45 MWe for the self-production of renewable energy. Furthermore, through an integrated district heating network, the heat produced is used in the Caviro plant and partly also in the Faenza industrial district, closing the circle between production, recovery and local use of energy.
Every year, the company recovers over 230,000 tonnes of biomass and organic materials and, through composting, obtains compost fertilisers that reduce the use of chemical fertilisers by up to 50% and improve soil health and crop sustainability. Even combustion residues are valorised: the ashes are almost entirely reused for the production of cement conglomerates and road bases, while only a minimal part – no more than 0.1% – becomes non-recoverable waste.
Investments for lower emissions and purer fertilisers
In recent years, Enomondo has strengthened its role as a reference point for advanced technology in circular biomass management. It has invested 12 million euro to build a new plant for the production of composted soil improver from the agri-food chain (ACFA) and a canopy for fertiliser storage, and has introduced new technologies to reduce odour emissions, eliminate plastic and improve the quality of natural fertilisers. All these measures are aimed at reducing environmental
impact. The 2026-2035 business plan provides for further investments, including 20 million euro for the modernisation of energy systems, which will save over 50 tonnes of CO₂ equivalent per year.
A historical industrial partnership in Emilia-Romagna
The renewal until 2035 consolidates a partnership that has brought together two of the region’s outstanding companies: the environmental expertise of Herambiente, Italy’s foremost waste treatment operator, and the agri-food leadership of Caviro Extra, which valorises the by-products generated by over 14,000 associated winegrowers throughout Italy and beyond. This alliance, launched in 2009, has made it possible to build a replicable model of industrial symbiosis, where energy and soil fertility are derived from what would otherwise be waste.
According to Filippo Brandolini, President of Enomondo and Herambiente, “the renewal of the partnership between Herambiente and Caviro Extra confirms a shared vision: transforming waste into resources, to generate economic and environmental value for the local area. Enomondo is a concrete example of applied circular economy, capable of combining innovation, sustainability and competitiveness. We do not simply process by-products, we transform them into secondary raw materials and energy, creating shared value for the environment and for production chains. This virtuous model has heightened our expertise, and we are replicating it in other industrial sectors. With this agreement, we look ahead to the next ten years with the aim of continuing to invest in technologies and processes that reduce environmental impact and promote decarbonisation.”
“We are consolidating a unique model of industrial partnership, which enhances the by-products of Caviro’s agri-food and wine production chain and transforms them into energy, soil fertility and measurable environmental benefits,” explains Carlo Dalmonte, President of the Caviro Group. The decision taken fifteen years ago to invest in a supply chain capable of generating environmental and economic value for the region, through Enomondo, proves how far-sighted our cooperation was, along with its ability to achieve concrete action thanks to our belief in initiative and collaboration between companies and supply chains. We have been able to transform what would otherwise be waste into opportunity, building sustainable and shared industrial models.”
Enomondo S.r.l. is a 50/50 joint venture between Herambiente S.p.A. (Hera Group) and Caviro Extra S.p.A. (Caviro Group). It has been operating in Faenza since 2011 in the circular economy sector, focusing on biomass recovery, natural fertiliser production and energy generation from renewable sources. Every year, it recovers 230,000 tonnes of biomass through the production of approximately 75 GWh of electricity, 100 GWh of thermal energy and 70,000 tonnes of three different types of natural soil improvers: ACV (Green Soil Improver Compost), ACM (Mixed Soil Improver Compost) and ACFA (Soil Improver Compost from Agri-Food Chain Waste).
Download the press release
Hera Custom Facet Publish Date
Custom Facet
Category Facet
Asset Publisher
The integration further strengthens the multi-utility’s position in both municipal and industrial water treatment, while activating strong commercial synergies with its subsidiary Herambiente. The transaction, with a total value of €138 million, is expected to contribute more than €20 million to the growth of the Hera Group’s EBITDA.
A group rooted across Northern Italy
Today the Hera Group has finalised the acquisition of 100% of STA Società Trattamento Acque S.p.A., based in Mantua, together with its subsidiaries: NTW (Cornuda – Treviso), CID (Colloredo di Monte Albano – Udine), NPC (Marene – Cuneo), Trentino Acque (Lavis – Trento), COMS (Talmassons – Udine) and Acque della Concordia (Mantua).
Taken together, these companies form the Sostelia Group, which, thanks to the distinctive expertise of its entities, ranks among Italy’s leading private players in the water treatment sector, offering advanced technologies, research and development capabilities, and high-level technical know-how. The sale was carried out for 65% by Xenon Fidec, an impact private equity fund managed by Xenon AIFM, and for the remaining 35% by entrepreneurs, minority shareholders of STA who, starting in August 2023, had transferred the entire share capital of the individual companies to the fund.
Signing completed following the successful verification of the conditions precedent
Today’s closing follows the successful verification of all conditions precedent set out in the binding agreement signed on 19 January and announced on the same date. These included, among other things, the prior divestment of 100% of Smart SEA, a company excluded from the scope of the transaction.
The Sostelia Group’s key figures
The Sostelia Group manages more than 1,200 treatment plants, serves over 1,200 active clients, employs around 350 people and has a turnover of approximately €100 million. Around 70% of its activities are focused on industrial clients.
A leading player in water treatment is born
Through this acquisition, the Hera Group further strengthens its positioning both the Water and Waste sectors, in the treatment of municipal and industrial water – an area that is highly synergistic with its activities.
As outlined in greater detail in the press release issued when the binding agreement was signed, with this acquisition the Hera Group becomes the reference player in Italy in water treatment, with an integrated offer across the entire supply chain.: from design and construction to operation and maintenance, through to the treatment and disposal of liquid waste and sludge associated with purification processes.
Economic rationale: enterprise value of €138 million and more than €20 million contribution to EBITDA
The transaction has an enterprise value of €138 million and is expected to generate a contribution of more than €20 million to the growth of the Hera Group’s consolidated EBITDA, in addition to the value of the expected integration synergies.
Advisors involved in the transaction
In the transaction, Hera was advised by PwC as strategic advisor and by GA-Alliance for legal matters, while Xenon was advised by Rothschild & Co. as financial advisor, by LCA for legal matters, and by Deloitte Financial Advisory and Fortlane Partners.
The Hera Group is one of Italy’s largest multi-utilities and operates in the environmental, energy and water sectors, with more than 10,500 employees. Over 7.5 million citizens receive at least one service provided by the Group. Listed since 2003, Hera ranks among the top 40 Italian companies by market capitalisation (it is part of the FTSE MIB index) and since 2020 has been included in the Dow Jones Sustainability Index (recently renamed the Dow Jones Best-in-Class Index). https://eng.gruppohera.it
Xenon FIDEC is one of the first Italian sustainable private equity funds, in compliance with Article 9 of the SFDR Regulation. It supports entrepreneurs and companies in building Italian leaders active in the energy and ecological transition, and is managed by Xenon AIFM S.A., an alternative investment fund manager authorised by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. For thirty years, Xenon has worked alongside family-owned businesses to manage transformation projects aimed at driving growth, mainly through buy-and-build strategies.
The Sostelia Group was created through an aggregation strategy promoted by the Xenon FIDEC fund, launched in 2023, bringing together companies that provide design, construction and maintenance solutions for water treatment plants. The minority stake is held by the entrepreneurs representing the various companies acquired during the build-up process. Today, the Group represents an important Italian private player in the sector, capable of offering biological and physico-chemical treatment plants, zero-discharge systems, and technologies for the treatment of primary and process water as well as liquid waste.