Financials​ 

The year saw significant advancements in initiatives around hydrogen and carbon capture utilisation and storage (CCUS), among other vital areas, weaving these technologies into various industries and infrastructures. Alongside expertise in hydrogen, ammonia, bio and other sustainable fuels, areas include green financing, materials and storage, decarbonisation of industrial end users, mobility, training, shipping, infrastructure, pipelines, transportation, and more. As set out in our new strategic plan, we aim at leveraging our broad-based knowledge in a unique ecosystem built on the continuous sharing of expertise across all sectors in which we operate.

A significant aspect of RINA’s work included its involvement in Hydrogen Valley projects, which illustrate its strategic input across the hydrogen value chain from production to utilization. For example, RINA supported the design and planning phases of the ENEA Hydrogen Demo Valley, aimed at developing a multifunctional hub for hydrogen technologies. This project alone has seen RINA secure contracts worth over €400k for planning and safety coordination. Similarly, in the Hydrogen Adige Valley, RINA conducted technical and economic feasibility studies, helping to secure substantial funding for the development of renewable hydrogen production facilities in Bolzano.

RINA's also supported Ansaldo Energia and De Nora Italy Hydrogen Technologies in securing approval for projects focused on hydrogen technologies as part of the European Commission's strategic initiatives. This reflects RINA’s capacity not only in engineering and consultancy but also in navigating the complex landscape of EU funding and project approval processes.

The company’s commitment to decarbonisation throughout 2023 highlights its role as a key facilitator in the global transition to sustainable energy practices. 

On the CCUS front

RINA's is providing Vendor Inspection and Expediting services in the Kasawari Carbon Capture and Storage Project in Malaysia. This project, one of the largest offshore CCS initiatives globally, is set to reduce carbon emissions substantially and facilitate Petronas’ progress in achieving its Net Zero Carbon Emissions targets by 2050.

The company's strategy includes a comprehensive approach to the entire CO2 value chain, from production and capture to transportation, storage, and reuse. This has been further demonstrated through projects like the assessment of CO2 compatibility with existing gas infrastructures for ENI and SNAM, showcasing RINA's agility in adapting current systems to new energy requirements. Furthermore, RINA supported the Pipeline Research Council International with the development of an exhaustive state of the art review and technology mapping, aiming a safe and reliable transport of anthropogenic CO2 by pipelines in either gas, liquid, dense, or supercritical phase. 

These platforms have not only facilitated important dialogues on sustainable practices but also underlined RINA's credibility and reliability in contributing to global energy transition discussions. 

 In terms of financials and operational alignment, the integration of decarbonisation strategies across RINA's various business units has proven successful, reflecting a unified and robust approach to meeting sustainability goals. This strategy has enabled RINA to leverage its diverse expertise, ensuring that each unit contributes effectively to the overarching goal of reducing carbon emissions.

As RINA continues to extend its expertise in decarbonisation, its commitment to innovation, strategic partnerships, and comprehensive service offerings showcases its role as a pioneer in shaping a sustainable future. This progress is crucial not only for RINA's growth but also for the broader impact on the industries and communities it serves, making it a cornerstone of the global journey towards a lower-carbon world. 

Looking 
    forward 

to 2024, RINA will focus on continued integration and optimisation of its decarbonisation efforts across all its operations.