Fincantieri has announced a joint venture with Faist Electronics dedicated to the production of lithium-ion batteries, considered fundamental in many industrial market segments and a source of competitive advantage for those companies and countries that own this technology.

According to a statement from Fincantieri, the batteries produced by Power4Future will contribute towards achieving the decarbonization goals underlying the Italian national Recovery and Resilience Plan (RRP), which has set specific goals and priorities to make the Italian ports and transportation in general, more green.

The industrial partnership envisages the construction of a facility to produce batteries, followed by the design, assembly, marketing and after-sales services for modules and battery packs, including control devices such as battery management systems (BMS) and ancillary systems (such as fire protection and air conditioning for complete battery stationary systems). The expected cumulative production is planned to exceed 2 GWh in 5 years.

Power4Future will present itself as a reference partner in several markets: automotive (with particular reference to commercial vehicles), telecommunication and industrial (material handling machines), where Faist Electronics is already present, but also in the marine and land-based energy storage applications, where Fincantieri is well established.

Giuseppe Bono, CEO of Fincantieri, commented: “Future environmental protection regulations will drive shipowners to adopt new alternative solutions to those currently based on internal combustion engines, in order to produce and use energy. Faced with the need for greater storage capacity, lithium-ion batteries today are the only solution that is both technically and economically sustainable for full electric vessels, which currently makes them one of the most important assets not only for the naval industry, but also for all the other sectors where we will be able to operate with this new company.”