Atlante Ventures Mezzogiorno invests in Remocean

Pubblicato il 30 Mag 2012

Atlante Ventures Mezzogiorno, Venture Capital Fund of the Intesa Sanpaolo Group, invests in the start-up Remocean S.p.A. (Naples), the result of a spin-off of the Consiglio Nazionale delle Ricerche (National Research Council) in the field of technology supporting maritime navigation and safety.

Atlante Ventures Mezzogiorno will invest up to about 1 million euro, thereby subscribing a capital increase divided into two tranches, which will finance the company's start-up and the development of commercial activities.

The Fund, promoted by the Intesa Sanpaolo Group and 50% of which is subscribed by the Department for Digitisation and Technology Innovation of the Prime Minister’s Office, continues to invest in Southern start-ups: Remocean is indeed the fifth company to be included in the portfolio, while two further transactions are currently in the due diligence and final negotiation phase.

The first contact between Remocean and Atlante Ventures Mezzogiorno was made within the scope of Italia Camp, a project promoted by the Association with the same name – whose honorary chairman is Antonio Catricalà, Undersecretary of the Prime Minister’s Office – partner to over 60 national and international Universities, which aims at making innovative business and policy ideas emerge from the national territory, bringing them closer to solid companies, including Intesa Sanpaolo.

Remocean originated as a spin-off of the Istituto per il Rilevamento Elettromagnetico dell’Ambiente (Environmental Electromagnetic Survey Institute – IREA) of the CNR of Naples and is specialised in the field of radar signal analysis and the estimate of the parameters that characterise the surface of the sea. In addition, it has developed an intense collaboration with Consilum Italy, a leading Italian company in the sector.

The Remocean software uses data generated by X-band Radar and linked to the “reflection” signal coming from the surface of the sea, in order to produce a series of information such as the height and length of the waves, superficial currents, the bathymetry of the sandy seabeds (evolving constantly), which are useful for several applications in the civil and military sectors, such as: navigation safety, fuel consumption management, rescue operations or identification of small objects and coast patrolling. The installation of the Remocean system may be carried out on board the vessel or on the coast.

The group of current Shareholders, composed of the founder Francesco Serafino, researcher of the CNR of Naples and the technological “brains” behind the initiative, Massimo D’Ambrosio, who will be leading the company with Serafino and other six founding members, will maintain the majority of the share capital overall.

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