CDP provides €12 million backed by SACE to reduce CO2 emissions
Virgo is a technologically and environmentally advanced furnace. The Vetrerie Meridionali project was financed with a €12 million loan from CDP, backed by a SACE guarantee as part of the company’s green operations.
The investment will help boost the energy efficiency of production in its 88,000 square metre plant in Castellana Grotte, in the province of Bari. A reduction of CO2 emissions of up to 25% will be obtained through technological measures such as artificial intelligence, innovative forms of combustion with distributed fuel injection and hydrogen power, to be purchased or self-produced in the combustion process.
This project sees the industrial application of a scientific research project developed as part of the European Union’s LIFE programme, which promotes the development of the circular economy, the transition to clean energy and the fight against climate change.
Vetrerie Meridionali will be the first foundry with a hydrogen-powered furnace that uses flue gases; it will therefore play a key role in driving growth, investments in research, development and energy efficiency in other industrial sectors too, especially in the south of Italy.
Founded in 1968, the company has revenues of €70 million, over 200 employees and produces more than 800 million hollow glass containers and bottles annually. This growing production is aimed at the food and drink sector to preserve products such as oil, wine, vinegar, tomato preserves and alcoholic and non-alcoholic drinks.
The loan sees CDP strengthen its support for the growth of manufacturing in the south of Italy, an area with considerable potential for the development of industry with a positive impact on the environment and technological innovation.