Mubadala and Fincantieri will embark on collaborations to develop advanced technologies
Collaborations in the field of advanced technologies and services in the naval, marine and industrial sectors.
Mubadala Investment Company PJSC (Mubadala) and Fincantieri have signed a Memorandum of Understanding (MoU) to start potential collaborations in the field of advanced technologies and services in the naval, marine and industrial sectors.
The agreement was signed by Abdulla Abdul Aziz Al Shamsi, Head of UAE New Initiatives at Mubadala, and Giuseppe Giordo, General Manager of Fincantieri Naval Vessels Division.
The two groups will work together through specialized subsidiaries to jointly advance a number of leading innovation and industrial projects. Moreover, studies to identify other areas of collaboration, such as the development of integrated industrial services for waste transformation platforms for small and medium commercial and industrial facilities, will be carried out in line with the circular economy. Mubadala, through its subsidiary Sanad, will also offer after sales services to Fincantieri products as well as other original equipment manufacturer products.
Commenting on the importance of this collaboration, Abdulla Abdul Aziz Al Shamsi, said:
“As a responsible long term investor, and an active player in the global energy transition sector, Mubadala has long pioneered and championed a balanced energy mix through a holistic and diversified energy portfolio in the UAE and abroad. Through this agreement, we are committed to advancing the role innovation in energy technologies can play to meet future energy demand with our partners at Fincantieri, and other technology developers, operating companies and like-minded organizations”.
Giuseppe Bono, CEO of Fincantieri, commented:
“This is a first step to strengthen our presence in the UAE, and is a demonstration of the great versatility of our Group, which today is able to offer unique management skills and technologies in the Naval, Maritime and Industrial sectors. Thanks to this agreement we will leverage our mutual know-how and investment capabilities to identify projects of common interest in the UAE and contributing to the development of the country’s advanced fields of technologies”.