Comtel Completes 40% Acquisition of Novanext, Enters Green Data Center Agreement
Comtel has finalized the acquisition of the remaining 40% stake in Novanext for €1.24 million, with closing expected in July 2026. Additionally, Comtel signed a Memorandum of Understanding with H2-Era Green Valley to develop a zero-impact data center, enhancing its operations in the growing data center market.
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Comtel has completed the acquisition of the remaining 40% of Novanext for a total of €1.24 million, with payments structured over five installments through December 2028. The acquisition is set to enhance Comtel's control over Novanext and advance the merger process initiated in 2024.
In a separate initiative, Comtel signed an MOU with H2-Era Green Valley to establish a zero-impact data center in Figline Valdarno, utilizing a circular economy model that integrates renewable energy and hydrogen production. The project aims to transform a decommissioned industrial area into a technological and environmental innovation hub. Meanwhile, Comtel has canceled its acquisition agreement for a 52% stake in ATS due to unmet conditions, indicating a shift in strategic focus.
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