Magellan Circle in FLEETfor55 Consortium Decarbonizes Waterborne Transport

[By: CIRCLE S.p.A.]

CIRCLE S.p.A. (“CIRCLE” or the “Company”) - an Innovative SME listed on the Euronext Growth Milan market, heading the Group specialized in the process analysis and the development of solutions for the digitalization of the port and intermodal logistics sectors, as well as in the international consultancy on Green Deal and energy transition topics – announces that Magellan Circle is part of the consortium of 21 partners and is proud of the launch of FLEETfor55, a groundbreaking project aimed at aligning the European waterborne transport sector with the EU's "Fit for 55" environmental targets for 2030.

The project FLEETfor55 will develop a comprehensive roadmap to implement energy efficiency technologies on short sea, inland waterway, and high seas vessels. The project will evaluate both retrofits of existing vessels and new vessel designs optimized for energy efficiency and environmental compliance.

Among the key components of the project there are the development of a web-based decision support system, to rapidly assess and benchmark different technology options, and the establishment of a Technologies Innovation Network to match new efficiency technologies with end users in the maritime industry. In the same way, the evaluation of 10 use cases, in particular six retrofit scenarios and four new vessel designs, and the creation of detailed business models to ensure market adoption of new technologies are included.

Magellan Circle is excited to contribute with its expertise in Communication and Dissemination, receiving a non-repayable funding of €322,425.

Alexio Picco, Board Member of Circle Group and President of Magellan Circle, commented: "FLEETfor55 represents a major step forward in decarbonising European waterborne transport. By bringing together leading maritime technology providers, shipowners, and research institutions, which altogether will develop immediate and effective practical market-ready solutions to reduce emissions from shipping. We are very proud to be part of the project, which is fully aligned with the strategic plan “Connect 4 Agile Growth”, and will help the industry meet ambitious environmental targets while maintaining competitiveness.” Who together will develop immediate and effective practical market-ready solutions to reduce maritime transport emissions. We are very proud to be part of this project, which is fully in line with the ‘Connect 4 Agile Growth’ strategic plan and will help the industry achieve ambitious environmental goals while maintaining competitiveness.’

The 42-month project is being coordinated by Hydrus and has received funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA) under the Horizon Europe program.