New joint venture targets shipyard waste management overhaul
Shipping and shipyards are set to play a major role in the circular economy (Source: Fincantieri)
Fincantieri, a leading global shipbuilder, and Hera Group, one of Italy’s largest utility companies, have launched CircularYard S.r.l., a joint venture focused on improving waste management across Fincantieri's eight Italian shipyards. The project aims to reduce environmental impact and promote a circular economy within the ship repair and construction sectors.
CircularYard plans to invest nearly EUR 13 million in infrastructure upgrades and new facilities to modernise waste processing. The initiative targets a 15% reduction in undifferentiated waste during its first year and will handle up to 100,000 tonnes of industrial waste annually, including materials such as iron, wood, plastic, and paper.
The partnership, which allocates a 60% stake to Hera Group and 40% to Fincantieri, will focus on operational improvements and the introduction of advanced technologies, including water treatment and copper recovery systems. Over time, the model may expand to Fincantieri’s operations abroad.
“This venture will enhance our waste management processes and efficiency,” said Pierroberto Folgiero, Fincantieri’s CEO. Hera Group CEO Orazio Iacono highlighted the utility’s role in supporting large industries through environmental initiatives.
CircularYard’s approach reflects growing industry efforts to integrate sustainability into large-scale manufacturing and ship repair.
