Ferrari installs 1MW fuel cell plant to speed up carbon neutrality
Italy’s Ferrari said on Thursday a new fuel cell plant had been recently installed at its historic headquarters facilities in Maranello, in a further step by the luxury car maker to becoming carbon neutral by 2030.
The new 1 MegaWatt solid oxide plant, which converts fuel into electricity through an electrochemical process without combustion, provides 5% of the energy required by Ferrari’s production operations, the group said in a statement.
See related article: Hyundai & Michelin Ink Deal for Sustainable EV Tires
The “Prancing Horse” unveiled last week its new business plan aiming to make electric and hybrid models 80% of its offer by 2030.
The plant, which was built by renewable energy firm Bloom Energy, will cut fuel consumption and emissions, with gas requirements lowered by around 20% compared to combined heat and power cogeneration systems, Ferrari said.
Reporting by Federico Maccioni, editing by Giulia Segreti
Source: Reuters
The ESG News Editorial Team is comprised of veteran financial journalists and sustainability analysts dedicated to providing real-time, objective reporting on global ESG regulations, climate finance, and corporate governance. Our desk monitors daily developments from the SEC, IFRS, CSRD and international regulatory bodies to ensure our 1M+ readers receive accurate, data-driven insights into the evolving sustainable investment landscape. Follow the ESG News Editorial Team for expert reporting on global sustainability standards, ESG disclosures, and climate policy. Access over 10,000 investigative reports and real-time updates.
