Turin, 18 December 2024 – MU-Fabriano srl, the start-up that produces electric vehicles under the Mole Urbana brand, designed and developed by designer Umberto Palermo and his team, has completed a 3.5 million euro capital increase subscribed by CDP Venture Capital, the PiemonteNext fund and a group of entrepreneurs and investors from the Marche region.

CDP Venture Capital subscribed to the capital increase through the Green Transition Fund, which uses resources allocated by the EU under the NextGenerationEU initiative to stimulate the growth of an innovation ecosystem in green transition sectors. It also invested through the PiemonteNext fund, established and managed by CDP Venture Capital and subscribed by the regional financial agency FinPiemonte to maximise innovation-focused investment in the region.

Mole Urbana

Mole Urbana aims to be an innovative and entirely Italian solution inspired by the Japanese kei car model – compact and efficient vehicles designed to optimise space and energy – with the ambition of creating a new automotive hub focused on the production of passenger cars and urban commercial vehicles.

The Mole Urbana project seeks to create a truly green product, which requires not only a sustainable vehicle but also the identification of production sites aligned with the project’s environmental goals. The first site, located in Piedmont, is a nano factory acquired via the Ministry of Business and Made in Italy as part of a property recovery initiative. The facility was architecturally restored using eco-friendly solutions, such as the reclamation of an asbestos roof, now replaced with 8,000 square metres of solar panels. Similarly, the second production site, located in the Fabriano area, will feature architectural elements designed for self-generation of electricity.

The Mole Urbana project analysed the evolution of the automobile – from the Ford Model T to contemporary models – observing how the original mission of essential transport for people and goods has been lost. The constant pursuit of extreme comfort, often at odds with real needs, highlighted the necessity to return to simplicity rather than complexity. Mole Urbana aims to achieve this through a lightweight, streamlined and versatile design.

Thanks to four years of development, Mole Urbana is entering a rapidly expanding market, with 30% growth in 2023 over the previous year and a further 35% increase recorded in the first half of 2024. The vehicle range was designed to meet a variety of daily needs, including models for two or four passengers, along with four work-specific versions. To optimise investments, the 11 models under development share the same chassis, mechanical components and electrification system.

Mole Urbana is a thoroughly Italian project, with vehicles designed, developed and built in Italy using 99% Italian components (with the exception of battery cells from China). Safety is a central feature thanks to a body frame equipped with sturdy roll-bars inspired by racing cars and a front end engineered to collapse on impact, protecting the occupants.

Sustainability

The focus on sustainability is reflected in both the materials used and the manufacturing processes. The vehicles use recycled aluminium from cans, stainless steel from recovered metals, recycled ABS for thermoplastic components and reclaimed wood for interior finishes. Furthermore, all components are designed for easy disassembly without adhesives or foams, enabling end-of-life recycling.

Manufacturing processes are also designed to be low energy: no stamping presses or polymer injection moulds are used, with techniques such as drawing, extrusion and thermoforming being preferred. Moreover, special attention has also been paid to water usage, adopting innovative methods that reduce its waste, thus setting the project apart from traditional automotive practices. These methods ensure significant green value across the entire production chain.

In the Marche region, a close partnership has steadily developed with a group of industrialists, financiers and local savers. Thanks to the lean nature of the Mole Urbana project, it was possible to establish a supplier network originating in the Marche and later expanding across Italy. Industrial partners, including some from outside the automotive sector, have helped develop an innovative and sustainable production concept.

Umberto Palermo commented, “With MU Fabriano, Mole Urbana is taking root in areas with a strong manufacturing tradition, such as Piedmont and the Marche, two pillars of Italy’s industrial culture. These regions continue to be centres of excellence and innovation thanks to their ability to blend tradition with forward-looking vision. It is in this spirit that we want to make a significant contribution to local development, reinforcing the true meaning of Made in Italy as a symbol of quality, innovation and sustainability. It was essential to secure CDP Venture Capital’s support as a strategic partner, given its ability and intuition in recognising projects that can continue to advance the green automotive sector”.

“Mole Urbana is a project that combines a revolutionary production process, zero-emission mobility and Italian design, all originating from the industrial and manufacturing districts of Piedmont and the Marche”, noted Agostino Scornajenchi, Chief Executive Officer and General Manager of CDP Venture Capital. “It’s a highly ambitious initiative aimed at reviving an iconic sector for our country – the automotive industry – with great potential in terms of supply chain and local economic development, involving suppliers, manufacturers and tech partners, generating new opportunities for skilled jobs and supporting the growth of a sustainable and competitive industrial ecosystem”.

“The Marche region is undergoing a transition in its manufacturing model and is seeking new industrial paradigms. We felt it appropriate to invest in this innovative startup because, while future-oriented, it also leverages many technical skills that are already present in the region”, said Gian Mario Spacca, former President of the Marche Region and spokesperson for the Marche-based investors. 

“Investing in a project like this – strongly tied to the automotive tradition of this region but with an innovative approach – makes us particularly proud. Through our investment in the PiemonteNext VC Fund we are able to support companies that are highly focused on sustainability, offering outstanding and innovative products with compelling designs, using production methods that are scalable but not necessarily capital-intensive. Congratulations to Mole Urbana”, said Mario Alparone, Director of Finpiemonte SpA.

During February Mole Urbana will host a major round table discussion involving journalists, institutions and industry professionals to present and explore the project’s details. The event will address technical, economic and social topics with the aim of demonstrating how, starting from a visionary idea, small and medium-sized enterprises – with support from investors such as CDP Venture Capital and private backers – can lay the foundation for building an Italian automotive industrial hub.

Mole Urbana has become a real opportunity to build a solid, sustainable company capable of transforming into a tangible manufacturing reality – supported by institutions and key figures from the industrial and financial sectors – that can rethink production processes with a sustainability-first approach based on green manufacturing technologies.