Neva Sgr, Intesa Sanpaolo Group's venture capital fund, invests in Skydweller Aero Inc.

Skydweller Aero Inc., a U.S.-Spanish aerospace company developing solar powered aircraft for defense and commercial industries, announced a new investment by Neva Sgr, Intesa Sanpaolo Group's venture capital dedicated to the hi-tech sector, through their 'Neva First' fund.

"We are honoured and delighted to share Neva Sgr.'s participation as an investor in Skydweller's cutting-edge technology," said CEO Dr. Robert Miller. "We see this partnership yielding tremendous value to the global economy, transforming the government surveillance and telecommunications markets, while contributing to the maturation and growth of the clean technology industry."

The sustainability criteria and the characteristic of a potential billion-dollar company led Neva Sgr to make an initial investment of approximately $4 million in the company, an operation in continuity with the strategy of investing in companies with ESG (Environmental, Social & Governance) solutions and technologies. To date, the Neva First Fund portfolio numbers 13 investments, in addition to investments in international funds instrumental to deal flow partnerships, for a total commitment of over €50 million.

"Skydweller has developed a unique and extraordinary technology that goes in the direction of environmental sustainability," explains Mario Costantini, CEO of Neva Sgr. "We believe that the company's business can also have positive repercussions for the economy of our country in an industrial sector that has always been strategic for Italy, with excellent growth prospects. The ability to raise investment and attract investors and industry partners worldwide in a very short time confirms Skydweller's enormous potential to become a billion-dollar company."

This investment was part of Skydweller's $40 million oversubscribed Series A round announced in early-September, attracting major investors and industry partners like Palantir Technologies.