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Annual Report 2022

Decarbonisation

Decarbonisation, one of the main strategic pillars within the RINA business, is also a main driver for many organisations. Our mission is to make RINA a leader across all aspects of this area. Our activities in 2022 resulted in exceptional outcomes, with revenue +33% and order intake +66% over budget.

2022 has been characterised by major geopolitical disruption that has had an immediate effect on energy supply chains. In response to the events in Ukraine, the EU issued REPowerEU, which aims to remove reliance on Russian fossil fuels by 2030, rapidly advance the green transition, and has resulted in increased investment in gas. Ultimately, we need to create the condition where industry can operate today and invest for tomorrow to protect our environment. This requires parallel approaches in areas such as energy efficiency, renewable resources, alternative fuels, carbon capture, and the new generation of Small Modular Reactors (SMR). 

In the future, there will be synthetic fuels, hydrogen, and possibly nuclear fusion in the energy mix, but these are longer-term solutions. Whereas resources such as solar and wind produce electricity that can directly use existing power grids, alternative fuels, such as hydrogen, require new infrastructure and methods of transport for international trade. 

This means that not all technology and solutions are at the same level. The framework for decarbonisation is complex in terms of timing, but RINA is well placed to advise our clients on what to do today, tomorrow, and the day after to create a roadmap for decarbonisation that meets their application needs.

For energy-intensive industries, the transition requires changing the mix of energy resources to lower or zero carbon emissions. RINA is working closely with clients to ‘join the dots’ and match the solutions available with their demands. While much technology is available today, for example, electrolysers, we must also support development to achieve better performance not only in terms of efficiency but also maintainability, CAPEX, and OPEX to stimulate these new economies.

A geopolitical shift

As we move away from the traditional oil & gas economy to renewable resources, new countries will become energy producers. For example, Chile is a country without a traditional oil & gas economy but has high intensity of wind and sun, along with the space to put solar plants in place. The amount of renewable energy it can produce is greater than its domestic needs, meaning it can become an energy exporter by using renewable resources to produce hydrogen and its derivatives, such as methanol and ammonia. 

Investment in decarbonisation is higher in Western countries, but some areas in SE Asia are also starting to move. RINA is determined in taking advantage of global opportunities: to do so, training sessions have been delivered to colleagues of all business units to drive RINA business with new competencies and higher awareness acquired in terms of decarbonisation. Once trained, these colleagues can train others in-country, creating a multiplication factor of competencies required for decarbonisation.

Fostering innovation and getting ready for the transition

The Decarbonisation function works with the other business units to create and support the creation of new services. New technology needs qualification, approval in principle, and certification, and RINA is well-placed to support this with its certification expertise. One example of this work is the recent guidelines issued by RINA for nuclear modules to be installed on board ships. The work started in 2022, with guidelines issued in Feb 2023. Another example is readying the supply chain for pipes and valves to accommodate alternative fuels, such as hydrogen. Once again, RINA is well placed to put the component parts of the jigsaw in place for the energy transition.