Fincantieri and Hera Group Set Up Unit for Shipyards Waste Management
Fincantieri and Hera Group have established CircularYard, a new company aimed at developing an innovative integrated waste management system in Fincantieri's eight Italian shipyards with an approach based on the circular economy.
The result of a partnership between the multi-utility and the leading global shipbuilding company, the new company aims to oversee and improve the entire waste management process at all Fincantieri shipyards in Italy and, in the future, abroad.
Almost $13.4 million in investments is planned for the design and construction of new facilities and the upgrading and optimization of infrastructure and equipment in support of a circular economy will bring a 15% reduction in undifferentiated waste in the first year.
CircularYard, the new joint venture born out of the memorandum of understanding (MoU) signed in July 2024.
When fully operational, CircularYard is expected to process 100,000 tons per year of industrial waste.
Hera Group will own 60% and Fincantieri 40% of CircularYard.
Specifically, CircularYard will be responsible for overseeing the entire waste management process, with a specific focus on the operational management of facilities to better exploit disposable waste and recoverable residues.
The project will have two phases of development, with the ultimate goal of managing nearly 100,000 tons of industrial waste produced each year in Fincantieri's shipyards and increasing the fractions that can be exploited – especially iron, wood, plastic, and paper – by 15% in the first year.
In parallel, specific initiatives will be studied to enable the model to become fully operational through the construction of advanced facilities – such as those for water treatment and reuse or copper recovery – and optimized waste management.
"The launch of the joint venture with an absolutely valuable partner like Hera Group adds a piece in our further commitment to the adoption of virtuous circular economy procedures within our shipyards. In keeping with our industrial plan on operational excellence, CircularYard represents a project that combines complementary expertise and allows us to apply best practices and technological innovation in the management and valorization of waste and production scraps,” said Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri.
