NEVA SGR: INTESA SANPAOLO INVESTS IN THE FRONTIERS OF NEW ENERGY

• At Officine Grandi Riparazioni in Turin, the presentation to the international venture capital world of the investment strategies of the Neva II and Neva II Italia funds on the Climate Tech & Energy Transition.
• Neva SGR invests in Commonwealth Fusion Systems (CFS), a unique global player in nuclear fusion.
• Luca Remmert: "Neva SGR connects Italian entrepreneurs with the global venture capital network and facilitates the entry of international entrepreneurs into the Italian scientific and industrial ecosystem, creating bridges that transform ideas into global opportunities”.
• Bob Mumgaard: "In addition to access to clean, firm, almost limitless energy, fusion could be an opportunity of economic value especially for Italy, because Italian companies are already an established part of the growing industry’s supply chain”.

Turin, 16 June 2025 - Neva SGR, the Intesa Sanpaolo Group's venture capital company, wholly owned by the Intesa Sanpaolo Innovation Center, today brought venture capitalists, institutional investors, entrepreneurs, managers and startuppers from all over the world, along with several key figures of the Group, to Officine Grandi Riparazioni (OGR) in Turin to present the investment strategies of the Neva II and Neva II Italia funds on the frontiers of new energy, with a focus on nuclear fusion.

The value of sustainability and the relationship between capital and sustainability at a time of great change at global level were discussed by some of the Group's key figures, moderated by Neva SGR’s Chairman Luca Remmert: Paola Angeletti, Group Chief Sustainability Officer Intesa Sanpaolo and Chairman of Intesa Sanpaolo Innovation Center; Tommaso Corcos, Chief of Intesa Sanpaolo's Wealth Management Division; Gaetano Miccichè, Chairman of Intesa Sanpaolo's IMI Corporate & Investment Banking Division and Chairman of Intesa Sanpaolo's International Banks Division; Jacques Moscianese, Executive Director Institutional Affairs Intesa Sanpaolo.

Since its inception in 2020, Neva SGR has chosen to invest in highly innovative companies committed to solving major global challenges in four key areas: Climate Tech & Energy Transition, Life Science, Digital Transformation and Aerospace & Manufacturing.

In the energy transition, Neva SGR searches worldwide in a targeted and selective manner for companies with specific characteristics, start-ups or already mature companies with revolutionary patents and projects in the pipeline, which can put their technologies into production on a large scale in the future, contribute significantly to the decarbonisation of the most energy-intensive industries, facilitate the development of new baseloads (stable and constant energy plants) and enable renewables, including through energy storage facilities and grid optimisation and balancing.

Neva SGR has chosen to invest in the American company Commonwealth Fusion Systems (CFS), a unique global player in nuclear fusion that has patented and developed the revolutionary tokamak-type reactor for magnetic confinement fusion called SPARC, the world’s first commercially relevant net energy fusion machine.

Founded in 2018 as a spin-off of the Massachusetts Institute of Technology (MIT), CFS is focused on the development of magnetic confinement fusion (MCF) using high temperature superconductors (HTS) CFS has made significant progress in recent years direct production of magnets factory. The company recogni as a pioneer and leader in its sector and recently announced plans to build the first in Virginia.

"Neva SGR connects Italian entrepreneurs with the global venture capital network and facilitates the entry of international entrepreneurs into the Italian scientific and industrial ecosystem, creating bridges that transform ideas into global opportunities” - declares Luca Remmert, Chairman of Neva SGR. "Our investment in CFS, in addition to financing a revolutionary project dedicated to the production of clean energy from nuclear fusion, also aims to facilitate contact with the world of research and with our country's manufacturing sector of excellence, in the hope that they will be able to take an even greater part in the large-scale development of this next-generation technology.

"In addition to access to clean, firm, almost limitless energy, fusion could be an opportunity of economic value especially for Italy, because Italian companies are already an established part of the growing industry’s supply chain” - declares Bob Mumgaard, Co-founder and Chief Executive Officer of CFS. "The country has an opportunity to be a first mover if they adopt policies that support the adoption of fusion, to achieve complete energy security in a context of growing energy demand, also due to the increasing use of artificial intelligence".

Since August 2020 to date, despite the difficulties caused by the pandemic in the first two years, Neva SGR has achieved its goals ahead of schedule, investing with its first three funds - Neva First for global investments, Neva First Italia dedicated to national realities and Fondo Sei for the development of Italian innovative ecosystems - over 180 million euros in 43 highly innovative companies with strong growth and distribute approximately 13 million euros to investors. With the two new funds Neva II and Neva II Italia, launched last September, Neva SGR has already invested approximately 24 million euros in 2 companies.

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