My business Luca Forno, VP Operations East Hemisphere, EthosEnergy

What is EthosEnergy’s response/commitments to decarbonisation?

The journey to net-zero greenhouse emissions is underway. As the energy transition increasingly takes centre stage, particularly with COP26 coming up, it’s incumbent on all companies to play their part in ensuring we meet critical targets. 

While environmental, social and governance (ESG) performance is critical for our long-term success, we believe we have a moral responsibility to take a leading role in shaping a better future, both for us and for generations to come.

We have introduced an ESG framework that will help us build growth and financial sustainability, and deliver long-term value through effective engagement with our teammates, our customers and the communities we operate in.

What does ‘circular economy’ mean to EthosEnergy, and why is it a focus?

Climate concerns have already placed pressure on traditional ‘take, make, dispose’ business models – a linear approach in which we buy new, use and then get rid once we’re done.

Circularity decouples economic activity from the consumption of materials and energy by creating closed-loop cycles in which waste is minimised and resources are reused. Even companies with traditional linear business models, such as oil and gas, can introduce elements of circularity to their operations. EthosEnergy looks at what circularity can offer to companies across the power generation, oil and gas and industrial sectors to regenerate and extend the life of existing assets.

To transition from a linear economy to a circular one, we need to look across three key areas: maximising product use, prioritising renewable inputs and recovering by-products and waste.

What opportunities do you see for the energy industry in circular economy?

The uptake to reuse in the energy industry is not as good as it should be. There’s real opportunity to reuse instead of disposing when equipment is close to decommissioning. Our value is to provide economic, social and environmentally beneficial solutions to extend life of existing equipment. At EthosEnergy we have already developed a suite of life extension and emissions compliance solutions to support current assets in meeting critical targets. This has a significant impact on CO2 emissions across two fronts: one is we avoid production of new equipment and therefore avoid emissions during the manufacturing process; and the second is where we can avoid or postpone the recycling of aged assets.

There is also opportunity to reduce the environmental impact of current assets by making them more efficient through regeneration and by enabling them to operate with alternative fuels with lower carbon content (such as hydrogen). We have been actively cooperating with the Politecnico di Torino on this front, as we believe university and industry liaising will be the main contributor to our future reshape.

We believe that there needs to be more collaboration and alignment between business, social and environmental factors to achieve success.

What does the future hold for EthosEnergy?

As a global leader in power generation and rotating equipment solutions, it is our responsibility to support our customers to provide safe, sustainable, affordable and reliable power across power generation, oil and gas and industrial applications.

EthosEnergy is committed to becoming a sustainability leader. Beyond this, we aim to be decarbonisation leaders, without sacrificing reliability or efficiency. We aim support our customers to implement changes today to revitalise existing assets, and work with our partners to develop solutions for tomorrow.

Tell me about EthosEnergy. Our customers are facing a challenging future. They want a flexible and viable partner to support them in a world of changing expectations.

EthosEnergy turns on potential to deliver services and solutions globally for rotating equipment, to make energy affordable, available and sustainable.

We offer a combination of partnership and service quality, backed by our track record of tailored solutions for the power, oil and gas, industrial and aerospace markets. EthosEnergy operates in more than 100 countries to improve performance across the value chain.

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