CDP, Fincantieri and Snam Join for Innovation of Ports

Italian investment bank Cassa Depositi e Prestiti (CDP), the largest shipbuilder in Europe Fincantieri and natural gas transmission company Snam teamed up to innovate port facilities in Italy and develop sustainable technologies for maritime transport.

The preliminary collaboration agreement is aimed at identifying, defining and implementing medium-term strategic projects for the innovation and development of port facilities in Italy, as well as for the development of sustainable technologies applied to maritime transport, in line with the provisions of the National Integrated Energy and Climate Plan Proposal (PNIEC).

The agreement was signed today in Rome by the CEOs of CDP, Fabrizio Palermo, of Fincantieri, Giuseppe Bono, and of Snam, Marco Alverà.

In particular, the agreement focuses on ports and coastal areas – projects for building infrastructure for the supply, transformation and use of liquefied natural gas (LNG) and alternative energy sources in maritime transport within port facilities or coastal areas.

It also addresses new technologies and innovative energies – research, development and implementation of maritime transport systems based on new technologies (turbines for LNG modules, containment and management of liquid and gaseous methane systems), innovative energy sources (LNG, hydrogen, fuel cells).

As part of the agreement, Fincantieri and Snam will share their technical skills by launching dedicated workshops. CDP will support these initiatives from an economic and financial point of view, in line with its institutional mission to support projects that have a positive impact on the country.

The agreement may be subject to subsequent binding agreements that the parties will define in compliance with the applicable regulatory profiles, including those relating to transactions between related parties.

Fabrizio Palermo, CEO of CDP, said: “The agreement signed today is part of the path laid out in our new business plan towards a full collaboration between the Group companies to further the country’s growth. Under this CDP agreement, Fincantieri and Snam will share their knowledge and technical expertise to make a concrete contribution to the competitiveness of maritime transport, a key sector for both the Italian and wider European economies”.

Fincantieri CEO, Giuseppe Bono, declared: “Environmental sustainability is fast becoming a significant megatrend. This agreement will allow us to enhance our wealth of experience and expertise in such a rapidly growing area. It’s a trend that impacts every industry, including the shipping sector, and as such we welcome this important agreement between three Italian powerhouses, with the aim of increasing the positions of acquired leadership.”

Snam CEO, Marco Alverà, commented: “With this agreement, thanks to the support of CDP, we join forces with Fincantieri to contribute to reducing energy costs and increasing the environmental sustainability of the Italian maritime sector and our cities. LNG and bio-LNG represent the future of sustainable mobility, particularly for the heavy and maritime transport sectors. As such, Snam will share its expansive knowledge and expertise in these areas with the Italian port system”.