The two companies, which have been strategic partners since 1973, will bring together their technological capabilities to scout and explore new energy-related technologies that could support the decarbonization journey of their respective production facilities in Maranello and Crespellano, located 30 km apart in the Emilia Romagna Region.
“In the year of the 50th anniversary of our partnership, Ferrari and Philip Morris International (PMI) share a desire to evolve their work together in a spirit of open innovation,” said Benedetto Vigna, Chief Executive Officer of Ferrari. “Our companies will collaborate to research new technology solutions to develop and optimise the use of energy in our industrial processes. We can learn a great deal from bringing together highly specialised teams from different sectors.”
The partnership aims to assess key solutions contributing to industrial electrification in the generation, storage and transformation of renewable energy. The first study will explore the viability of long- duration energy storage technologies and should be completed by Q3/2024.
“PMI welcomes this new chapter in the long- standing partnership with Ferrari, establishing a new area of collaboration for our two organizations,” said Jacek Olczak, Chief Executive Officer of PMI. “We are bound by a common passion for innovation and this initiative, and its drive to develop pioneering energy-related technology solutions. And Scott Coutts, Senior Vice President Operations at PMI, said: “We are looking forward to collaborating with Ferrari, particularly in exploring the potential for low-carbon hydrogen as fuel source, notably in manufacturing applications where electrification may not offer a viable solution. Our three-pronged approach to decarbonizing our operations includes reducing fossil fuel consumption, switching to renewables, and off-setting unavoidable emissions. Through this pilot we aim to explore the role hydrogen could play in our strategy.”
Ferrari aims to become carbon neutral by 2030.
