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Palumbo Superyachts Refit expands commitment to sustainability

Palumbo Superyachts Refit (PSY) recently discussed its approach to the future of yachting and ways to make it more environmentally sustainable at an event for members of the Julius Baer Sustainability Circle client community, which took place on 4 May at Yacht Club de Monaco.

Measures include the installation of solar panels in key infrastructures, renewable energy sourcing, energy and emissions savings measures as well as research activities. The event revolved around the future of yachting, with the objective to address the challenges of the yachting industry with regard to its environmental footprint, discussing on how to reduce it.

PSY team had the chance to participate in a panel discussion at the event, and to speak about the opportunity that each yacht refit represents to make a vessel more sustainable. PSY is grateful to Julius Baer for providing a platform for this discussion.

Mr. Luciano Bregola: Marseille Yard General manager and engineer, represented PSY at the panel.
“Today, energy transition is an increasingly relevant issue in all industries, and yachting must play its part in the pursuit of the global goal of carbon neutrality to mitigate climate change. Obviously, this is a complex process that will encompass short, medium and long-term phases. At Palumbo SuperYachts Refit we believe we are in a good position, as we have always put the process at the center of our philosophy, which has also meant for some time that we invest in the green transition of infrastructures and procedures in all the yards of the network. Moreover, PSY together with RINA is studying the potential of new fuels that offer the possibility of reducing carbon dioxide emissions through the gradual replacement of fossil fuels by renewable energy. PSY believes that sustainability starts from people’s mindset and develops in the procedures in which yachts are built, managed, converted, and repaired. It’s only by bringing to the same table all the actors involved in the process, starting from everyday consumables’ company recycling policy to the overall design, that we acknowledge the importance of individual actions, since together we have the power to deliver a green boost to market”, says Mr. Bregola.

A number of ongoing projects and developments reflect PSY endeavors to support more sustainable

These include:
● The improvement and expansion of green refitting procedures for yachts, such as the mandatory use of eco-friendly paint in order to avoid marine flora and fauna potential damages, powder handling systems and advanced water treatment plants.

● The use of more sustainable technology and renewable energy across boats, shipyards and related facilities. This includes LED lighting and solar panels, where PSY has committed to installing photovoltaic infrastructure across its facilities in the Mediterranean by 2025. A Power Factor Corrector has also been installed in every yard to optimize the voltage ratio of existing cable equipment. Moreover, all the forklifts, high pressure pumps have been switched
to renewable energy, reducing both carbon emissions and noise.

● Research into alternative fuels for yachts, which PSY R&D department conducts together with RINA, a national center of excellence, specialized in testing, inspection, certification and engineering solutions across a wide range of markets including, among others, marine, energy.

Sustainable innovation is based on strong research, and the collaboration between PSY and RINA extends to lithium batteries, green hydrogen and green methanol. Many technologies that can make yachting greener in the future are not yet available at scale, but dedicated research can discover opportunities and show a path for further developing and implementation.

By expanding its commitment to sustainability, Palumbo Superyacht Refit aims to take on a leadership role in building, refitting, converting and maintaining all kinds of superyachts in a future oriented and more environmentally friendly manner. Measures to mitigate climate change are essential to healthy ecosystems in the future, not least in oceans. PSY acknowledges that the yachting industry still faces different challenges in this area that it is important to tackle, and this is why the Company will keep investing in facilities and in research and development activities, with the aim of making the future of the yachting industry greener.