Fincantieri has announced that it has extended its agreement with the Italian energy company Eni for the continued development of initiatives in decarbonization and the circular economy.

The CEOs of Eni and Fincantieri, Claudio Descalzi and Giuseppe Bono, signed a memorandum of Understanding extending the cooperation in research and development, set up by the two Italian companies in 2017, to push technological barriers into the future.

According to Fincantieri, the main focus of the extension will be the development of new and innovative initiatives. The activities will focus mainly on waste to energy processes, production and transport of alternative energy sources such as natural gas, methanol, hydrogen and fuel cells, and the development and deployment of off-shore renewable technologies.

Over the past three years, Eni and Fincantieri have collaborated on several concepts of floating offshore production platforms, with a modular and so-called reversible approach, developed according to a Fincantieri patent; a floating gas to methanol concept with Eni technology; and a floating independent power plant.

Descalzi, CEO of Eni, stated: “Thanks to the developed synergies, Fincantieri and Eni will support the country’s sustainable development. This agreement fits into our long-term strategy. To build the future Eni we are combining economic and environmental sustainability, we are working on a transition by providing energy in a profitable way and, at the same time, obtaining an important reduction in the carbon footprint. Natural gas, a fossil energy source with the lowest carbon footprint, will represent an increasing component of Eni’s energy mix in the coming years: 60% in 2025, reaching 85% in 2050. In this process, Fincantieri represents a strategic partner with whom we continue to research and develop innovative technologies and systems.”

Fincantieri’s CEO Bono commented: “We believe that the success of this partnership is very good news for Italy, especially given that the cooperation explores sustainable developments. The ability of big two national industrial players to pool experiences, skills, and above all their visions for the future, is a huge strategic achievement. I am very pleased because the research path we are charting with a group such as Eni has already led to the creation of several projects, consolidating a technological lead, which has allowed our companies to obtain important achievements worldwide.”