GE Power and Fincantieri to develop new emission control solution

JULY 4, 2017 — GE Power (NYSE: GE) and Fincantieri have reached an agreement to co-develop a new emission control solution to reduce pollution in the marine industry. To be called Shipboard Pollutant Removal System, it will help control emissions in compliance with MARPOL's more stringent emissions limits directive that will be effective by 2020.

The agreement, which follows a previous memorandum of understanding between the two companies from last September, was signed today by Sandro De Poli, president and CEO of GE Italy and Giuseppe Bono, CEO of Fincantieri.

Giuseppe Bono stated: "We are proud to announce this one-of-a-kind agreement. In fact, no shipbuilder before had ever established a partnership to reduce emissions with a system manufacturer, that is one of among the leaders in the area in which it operates. This strategy, having cutting-edge research and innovation at the forefront, will allow us to raise the bar of technology to the benefit of the cruise market, in a sector, the minimization of environmental impact, which is so significant for our customers."

"This agreement builds on GE's and Fincantieri's long-term relationship and we are proud to develop such an innovative solution with one of the main shipbuilders in the world", said Sandro De Poli. "To develop the Shipboard Pollutant Removal System, we will combine Fincantieri expertise and GE's deep domain experience in air quality technologies for the reduction of pollutants in different fields, such as power, aluminium, iron and steel and waste to energy".

According to the agreement, Fincantieri will define the necessary technical requirements to design an emission control system for a vessel, including constrains and improvements to develop a competitive product. GE Powerwill define the features that are necessary for an emission control system, to help meet the target performances.

The new product is being developed to control SOx and particulates emissions from cruise vessels but can be installed on all vessels using heavy fuel. In addition, it will help ship owners reduce operational costs

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