Eni and Fincantieri sign an agreement for initiatives to support the energy transition

San Donato Milanese (MI)/Trieste, 19 October 2021 - Eni and Fincantieri have signed a Memorandum of Understanding (MoU) to establish a partnership for promoting initiatives focused on the energy transition. The aim is to create a system of integrated solutions for decarbonization projects in the fields of energy, transport and the circular economy.

Eni and Fincantieri have identified areas of common interest for developing synergies, including reducing the environmental impact of the maritime transport sector, producing energy from renewable sources and the circular economy.

Under the MoU, Eni and Fincantieri will conduct a preliminary study to identify initiatives of common interest in the areas indicated, with the aim of launching subsequent joint technological or industrial innovation projects.

Claudio Descalzi, CEO of Eni, announced: "Eni is on a transformational journey that will lead to the complete reduction of its net emissions, based on technologies that we have already made industrially operational or that are capable of becoming so in the short term through heavy investment into research and. We believe that the technological assets we are creating should be used to meet our decarbonization objectives, and also be shared with other leading industrial players in order to find opportunities for greater enhancement. The energy transition is first and foremost a technological transition, and only companies with a strong industrial and innovative capacity, as well as the willingness to combine forces and skills, will be able to lead it.”

Giuseppe Bono, CEO of Fincantieri, commented: "The agreement reaffirms the leading role that the industry has decided to play in the energy transition, a journey of profound innovation that our country has embarked on with determination. The MoU covers a number of highly strategic national sectors, and their development will play a key role in the new circular economy that will be defined in the coming years. Our strong corporate DNA has always led us to look to the future, and we are proud to be at the forefront of such a complex challenge alongside a partner like Eni.”

Under this agreement, the two companies also intend to renew and extend their existing agreements regarding the activities of interest, converging them under a single, harmonised governance between the technological innovation and business units, with a view to jointly promoting the excellence of the Italian system. This MoU, which regulates research and negotiation activities, may be subject to later binding agreements, including on transactions between related parties, which the parties will work out in line with applicable legislation.

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Eni is an integrated energy company with over 30,000 employees in 68 countries around the world. Its activities range from the development of new energy solutions to the more traditional exploration and production of hydrocarbons, the refining and marketing of oil products and biofuels; from the generation and commercialization of electricity to the production of renewable energy; from the development of chemical and bio-based products to environmental activities. Eni aims at contributing to the achievement of the Sustainable Development Goals (SDGs) of the United Nations’ 2030 Agenda, supporting a just energy transition, which responds with concrete and economically sustainable solutions to the challenge of climate change by promoting access to energy resources in an efficient and sustainable way, for all. Eni’s decarbonization strategy aims to reach net zero by 2050. With the aim of becoming the leader in the production and marketing of decarbonized products, Eni will produce green products from renewable sources; blue products from decarbonised gas; and bio products from its bio-refineries or other transformation cycles that convert organic waste and biomasses.

Fincantieri is one of the world’s largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems.

With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with over 20,000 employees.