YPF Ventures acquires stake in Sustentator.
PRESS RELEASE
Buenos Aires, June 6, 2019. On May 9, the operation through which YPF Ventures obtained a strategic stake in Sustentator S.A. closed.
YPF Ventures is a YPF vehicle which seeks to diversify the company’s energy-related businesses and boost its local innovation. YPF Ventures will position itself in a new field for YPF, as a tool to generate innovation, either by incorporating already-proven global technology or developing at a start-up level. “YPF Ventures captures and catalyzes the entrepreneurial spirit of our company, projecting it onto the innovation and technological disruption stage”, said Daniel González, CEO of YPF.
Sustentator S.A. is a leading company dedicated to the engineering and installation of clean renewable energy, reducing emissions. Among the company’s goals are the dissemination, education, and advice on energy savings. The installation of this type of energy solutions – both photovoltaic and hot water tanks, where the consumer generates their own energy – is a worldwide trend, bolstered in Argentina through the implementation of the Law of Distributed Generation. Paul Howlin, new President of Sustentator S.A., said that “through this association, whose work has been very professional, we seek to grow in this new market of distributed energy, reaching all households and consumers”. Paul Howlin and Daniel Nofal will lead the company in this stage.
“Having worked on several deals that have marked milestones for YPF, it was a privilege and a challenge to be part of the first YPF Ventures acquisition”, said Tomás Allende, Beccar Varela’s partner.
With this acquisition, YPF begins its growth strategy in the renewable energy retail business, launching itself in the niche of photovoltaic module installations and other technologies aimed at industries, businesses, and homes.
Counsel to YPF VENTURES
In-house counsels: Germán Fernandez Lahore, Fernando Gomez Zanou, Paola Garbi, Pilar Rodríguez Salto and Martina Muñua.
Beccar Varela: team led by partner Tomás Allende and associates Paula Casaux Alsina and Milagros Valenzuela.
Counsel to Sustentator S.A.
Richards Cardinal Tutzer Zabala y Zaeffe (RCTZZ). Team comprised of partners Calixto Zabala, Jorge Tutzer and Mariana Vazquez.
