The €5 million issuance, fully subscribed by UniCredit, finances the construction of five photovoltaic plants of 1 MW each
An advanced calculation engine for the automated management of financial flows confirms the growing maturity of UniCredit’s digital capital markets solutions, a pioneer of innovation in the markets
UniCredit has structured a new tokenized minibond on public blockchain for Union S.p.A., a Benefit Corporation active in renewable energy, further consolidating the capital markets innovation journey it began last year through the use of digital technologies, and reaffirming its support for the sustainable investments of Italian businesses.
The transaction, worth €5 million with a ten-year maturity, is fully subscribed by UniCredit. The proceeds finance the purchase and construction of five photovoltaic plants of 1 MW each, for a total capacity of 5 MW. The investment is aimed at producing energy from renewable sources and contributes, albeit on a limited scale initially, to launching a path toward self-production of clean energy intended for sale.
With this issuance, UniCredit brings to 81 the number of minibonds structured in Southern Italy since 2018, for a total value of €370 million.
The minibond strengthens the digital evolution of financing instruments for Italian SMEs and mid-caps. Tokenizing the security and registering it on public blockchain make the processes of issuing and managing the bond more efficient, transparent and traceable, while maintaining high standards of security and reliability.
Compared with the first tokenized issuance structured by UniCredit, this second transaction introduces a new generation of digital features and extends the level of automation across the entire lifecycle of the security. BlockInvest’s technological infrastructure integrates a proprietary calculation engine — an advanced system that directly manages the bond’s coupon logic and financial flows, reduces operational risk and digitizes activities that until now sat outside the system. It also enables the automated management of specific financial clauses, through the integrated mapping of call and put options and the automatic application of any floor and cap mechanisms. The system improves operational efficiency and allows for more precise monitoring of the security over time.
The initiative confirms the growing maturity of digital infrastructures applied to private markets and demonstrates how blockchain technology contributes not only to the registration and certification of financial instruments, but also to the automated management of the processes that accompany their lifecycle, opening up new applications for financing the real economy.
“With this minibond, UniCredit strengthens a digital finance offering that is increasingly embedded in industrial projects and supports their delivery. The issuance we structured for Union combines support for the development of new renewable capacity with capital markets solutions that make the management of financial flows more automated, transparent and programmable. In the South, we continue to support businesses with instruments built around their investment and growth needs,” commented Ferdinando Natali, Regional Manager South, UniCredit.
“The energy transition requires investment, vision and the ability to adopt innovative instruments to support growth,” declared Massimo Accurso, CEO of Union. “With this transaction we take an important step in our development path, accelerating investments in the construction of five new photovoltaic plants and strengthening Union’s role in producing energy from renewable sources. The collaboration with UniCredit confirms the soundness of our industrial project and allows us to combine financial innovation, sustainability and growth, creating the conditions to generate value over the long term.”
“This transaction represents a significant evolution in Union’s financial strategy,” added Vincenzo Andreozzi, CFO of Union. “Using a tokenized minibond on public blockchain gives us access to an innovative instrument that makes financial management processes more efficient, transparent and automated, while confirming the company’s ability to engage with financial stakeholders through advanced solutions. The collaboration with UniCredit is a testament to our financial credibility and reinforces a growth model founded on a balanced approach to investment and a focus on innovation.”
In the issuance, UniCredit acts as arranger and sole investor. BlockInvest provides the technological infrastructure for tokenizing the security, while Weltix acts as DLT Register Manager under applicable regulations. Simmons & Simmons advises on the legal, documentary and tax aspects of the issuance.
Milan, 14 July 2026
