(Alliance News) - Ecomembrane Spa made its debut on the Milan Stock Exchange on Friday after raising EUR13 million in the IPO.

If the over-allotment is exercised in full, the total amount raised will be EUR15 million. The free float is 36 percent while the market capitalization at IPO is EUR36.5 million.

Ecomembrane operates in the renewable energy and biogas sector, with production offices in Italy and the US. The company specializes in the design, production, and marketing of components for biogas and biomethane production plants and systems for storing gases such as biogas, methane, CO2, and hydrogen.

Ecomembrane represents the eighth admission since the beginning of the year on the Italian stock exchange's market dedicated to small and medium-sized companies and brings the number of companies currently listed on Euronext Growth Milan to 197.

Lorenzo Spedini, managing director of the company, commented, "We are aware that the stock market represents a dynamic and highly competitive environment but we are ready to face this challenge with confidence and determination, knowing that we can count on the strength of our team and the excellence of our products and services. In these 20 years of activity, we have established a solid reputation in the industry, earning the trust of our clients and the admiration of our competitors."

"The listing on the Italian Stock Exchange will allow us to further consolidate our positioning and expand our presence in international markets, thus accelerating our growth and development path, at the same time it will give us new resources to further invest in innovation and technology to successfully meet the challenges of the future."

Ecomembrane's stock is down 0.4 percent at EUR8.4680 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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