The Spanish shipbuilder Navantia and the Italian shipbuilding group Fincantieri have signed a Memorandum of Understanding (MoU) to jointly coordinate and execute the European Patrol Corvette (EPC) project.

The EPC is a project within the PESCO framework, one of the most ambitious European defence initiatives, supported by the European Defence Fund (EDF) through the Multi Mission Patrol Corvette (MMPC) programme. It aims to design and develop a corvette‑type vessel that is modular, multipurpose and interoperable, led by Italy, Spain, France and Greece, and involving a total of 46 companies from 12 countries.

The project is currently in its Call 1, approved by the EDF in its 2021 call. This phase aims to achieve a certified design and build a prototype platform for each of the two planned versions: the combat ship (Full Combat Multipurpose) and the patrol vessel (Long Range Multipurpose). In its 2023 call, the EDF allocated 154m€ for the following phase of EPC (Call 2), aimed at the design and start of prototyping.

Navantia and Fincantieri have signed the MoU to jointly manage and execute the programme through a joint venture that will be open to participation from other project partners. In addition, both companies will drive the progress of the programme by collaborating on the design of the EPC’s Full Combat Multipurpose version and collaborate to commercialise it to other European partners. Incorporation of the joint venture will be subject to finalization of the transaction documents and satisfaction of customary conditions precedent.

“Industry has a fundamental role in building Europe’s defence. With our collaboration, Navantia and Fincantieri are giving a significant boost to Europe’s defence capabilities. We will work together to define a new class of multipurpose, innovative, interoperable and cybersecure corvettes that meet the requirements not only of the Spanish Navy and the Marina Militare, but also of other European navies,” said Navantia’s Chairman, Ricardo Domínguez.

“This agreement marks a decisive step forward in the EPC programme, a project that embodies the spirit of European cooperation and technological excellence. By joining forces with Navantia, we are not only responding to the needs of our respective navies but also laying the foundations for a new standard in European maritime defence,” stated Fincantieri’s CEO and Managing Director, Pierroberto Folgiero.

“The EPC is more than a ship: it is a strategic platform for interoperability, innovation, and security, capable of strengthening the operational capabilities of Europe as a whole. Our joint venture is a testament to the industry’s ability to drive progress and unity, and to transform vision into concrete solutions for the future of European defence,” he added.

Navantia is a highly export-oriented company and a benchmark in both military and civil shipbuilding, as well as in advanced defence systems and services. Its expertise also spans strategic sectors such as offshore wind power and the development of sustainable solutions based on green hydrogen. Committed to sustainability, Navantia applies cutting-edge technologies across all its processes.

The company’s network of Centres of Excellence (Navantia COEX) and cutting-edge programmes foster and attract innovation in collaboration with companies, universities, and technology centres.

Fincantieri is one of the world’s largest shipbuilding groups, the only player active in all high complexity marine industry sectors. The Group is a leader in the construction of cruise ships, naval and offshore vessels, and stands out for its extensive experience in the development of underwater solutions, thanks to its integrated industrial structure for commercial, defense, and dual -use sectors.

Fincantieri is also a leader in sustainable innovation and in the digital transformation of the shipbuilding sector. The company is active in the field of mechatronics, electronics, and digital naval systems, as well as in cybersecurity, artificial intelligence, and marine interiors solutions. It also offers a wide range of after-sales services, including logistic support and fleet assistance.

With over 230 years of history and more than 7,000 ships built, Fincantieri is a global player with a production network of 18 shipyards worldwide and over 23,000 employees. It maintains its expertise and management centers in Italy, where it directly employs over 12,000 workers and creates around 90,000 indirect jobs.