Philip Morris International and Ferrari Partner to Explore New Energy Technologies

  Philip Morris International has partnered with Ferrari to explore new energy technologies aimed at reducing carbon emissions from their production facilities. The two companies will explore technologies for the production, storage, and conversion of renewable energy, as well as the feasibility of long-term energy storage. This initiative is one of Ferrari's key measures to achieve its carbon neutrality goal by 2030.

According to Italian media Panorama, Philip Morris International (PMI) will collaborate with Ferrari's E-Lab to integrate the technical capabilities of both companies to find and explore new energy technologies that support reducing carbon emissions at their production facilities in Maranello and Crespellano.

The goal of this partnership is to find solutions that contribute to industrial electrification, including the production, storage, and conversion of renewable energy. The first study will explore the feasibility of long-term energy storage technologies, expected to be completed in the third quarter of 2024.

Philip Morris International's Crespellano plant is located near Bologna.

Ferrari CEO Benedetto Vigna stated: “On the 50th anniversary of our partnership, both Ferrari and Philip Morris International intend to further develop our collaboration within an open innovation framework. Our companies will jointly seek new technological solutions to develop and optimize energy use in our industrial processes. We can learn a lot from the collaboration of high-level teams across various industries.”

Philip Morris International CEO Jacek Olczak remarked: “Philip Morris International welcomes a new chapter in our long-term partnership with Ferrari and has established new areas of collaboration for our two organizations, both connected by a shared passion for innovation.” 

Scott Coutts, Senior Vice President of Philip Morris International, added: “We look forward to collaborating with Ferrari while continuing to execute our strategy and our three directions in carbon reduction, including reducing fossil fuel consumption, transitioning to renewable energy, and compensating for unavoidable emissions. We are particularly interested in exploring the role that industrial electrification may play in our strategy.”

Ferrari aims to achieve carbon neutrality by 2030.