- New Joint Venture to Drive Sustainability in Shipbuilding.
- €13 Million Investment to Reduce Waste and Promote Circular Economy.
- CircularYard Aims to Manage 100,000 Tons of Industrial Waste Annually.
A joint venture between global high-complexity shipbuilder Fincantieri and Hera Group, one of Italy’s largest multi-utility companies active in the environment, energy, and water sectors, has formed CircularYard S.r.l. The venture will introduce a state-of-the-art integrated waste management system in the eight Italian yards operated by Fincantieri. Its international growth prospects are soon to be exploited on foreign premises, reports Fincantieri.
Circular Economy for Shipbuilding
CircularYard was established as a result of the Memorandum of Understanding signed in July 2024. The new joint venture underscores Fincantieri’s commitment to responsible industrial operations and environmental sustainability by promoting a circular economy. With an initial goal of reducing undifferentiated waste for disposal by 15%, CircularYard seeks to set a new benchmark for sustainable shipbuilding practices.
The initiative will be supported by the expertise and technological capabilities of Hera Group, which will bring advanced solutions for improving supplier transparency, safety, and quality across the supply chain. When operational at full capacity, CircularYard will handle up to 100,000 tons of industrial waste annually.
Information on the Joint Venture
Corporate structure: Hera Group holds 60 percent share, while Fincantieri owns 40 percent. Hera Group is comprised of Herambiente Servizi Industriali (HASI), 55 percent, and A.C.R. di Reggiani Albertino S.p.A. 5 percent; both of them are part of Herambiente Group- one of the prime operators in the environmental sector in Italy and one of the seven in Europe.
Strategic initiatives and development phases
CircularYard will handle the entire waste management process, with an emphasis on maximising the recovery of reusable materials like iron, wood, plastic, and paper. In its first year, the joint venture aims to enhance the recovery rate by 15 percent. To realize these objectives, CircularYard will implement a two-phase development plan:
- Initial Phase: Construction of facilities to handle nearly 100,000 tons of waste annually and optimize the recovery of key materials.
- Full capacity expansion: construction of advanced treatment plants with high technologies, for example, chemical-physical treatment plants for water treatment and reuse, copper recovery systems, and the upgrading of storage and sorting facilities.
Commitment to Innovation and Sustainability
Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, commented: “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. The ultimate goal is to pursue at the same time our targets on environmental sustainability and process efficiency in the sign of responsible growth, both from the point of view of sustainability and cost-effectiveness, by confirming Fincantieri’s role as a world-leading company also in the adoption of new operating models in shipbuilding.”
Hera Group’s Vision for Environmental Transition
Orazio Iacono, CEO of Hera Group, added: “We are proud to put our advanced expertise, plant engineering excellence, and many years of experience in the circular waste management process at the service of the first western shipbuilder to promote the regeneration of urban and industrial areas. We are accelerating a new process that will make Hera Group the engine of the circular economy in the Italian industrial fabric, accompanying large companies throughout their environmental transition as they reduce production waste and maximize recovery.”
CircularYard: A Milestone for Sustainability
With nearly €13 million in planned investments, CircularYard is a milestone for waste management at the Italian shipyards of Fincantieri and beyond. It is a shared vision between Fincantieri and Hera Group to achieve sustainable industrial growth and minimize environmental impact while setting new standards for the shipbuilding industry.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Fincantieri
