UK Markets open in 7 hrs 36 mins
  • NIKKEI 225

    27,049.47
    +178.17 (+0.66%)
     
  • HANG SENG

    22,418.97
    +189.47 (+0.85%)
     
  • CRUDE OIL

    111.94
    +0.18 (+0.16%)
     
  • GOLD FUTURES

    1,820.40
    -0.80 (-0.04%)
     
  • DOW

    30,946.99
    -491.27 (-1.56%)
     
  • BTC-GBP

    16,661.36
    -523.99 (-3.05%)
     
  • CMC Crypto 200

    441.05
    -9.01 (-2.00%)
     
  • Nasdaq

    11,181.54
    -343.01 (-2.98%)
     
  • ^FTAS

    4,035.24
    +31.01 (+0.77%)
     

Ferrari installs 1MW fuel cell plant to speed up carbon neutrality

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
Ferrari CEO Benedetto Vigna unveils the company's new long term strategy, in Maranello
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

MILAN (Reuters) - 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.

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)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting