RINA

ServiceGenoa, Italy· One of 2028 Service companies tracked by AMPulse

Provides full-range additive manufacturing services including metal powder development, material characterization, process certification, and engineering support for AM applications in aerospace, energy, hydrogen, and maritime industries.

CEO / Founder: Carlo Luzzatto
Team Size: 5001-10000
Stage: Established
Total Funding: Undisclosed
Latest Round: Private Equity
Key Investors: Fondo Italiano d'Investimento; Intesa Sanpaolo; VEI Capital; Arca Fondi; Venice Shipping and Logistics

Technology & Products

Key Products

Full range of additive manufacturing services including material development, rapid production of functional prototypes, and certification. Operates an Innovative Advanced Materials and Additive Manufacturing Laboratory. Involved in projects like H2AM Open Lab with Nikon SLM Solutions for green steel, oil & gas, and hydrogen sectors. Partners with Bercella for multi-material solutions in aerospace, defense, marine, and energy.

Technological Advantage

Dual strength: (1) Regulatory expertise in AM certification and guidelines recognized across maritime, power, and aerospace industries; (2) In-house metal powder production and characterization capabilities reducing dependency on external suppliers

Differentiation

Value Proposition

Certification, testing, inspection, and material development expertise for additive manufacturing; reduces risk and ensures compliance with regulatory standards for metal AM components; supports circular economy in AM sector

How They Differentiate

Integrated service model combining metal powder production, material development, and certification in single organization; established guidelines and certification frameworks for maritime and power industry AM applications; heritage in ship classification and advanced metallurgy

Market & Competition

Target Customers

Aerospace, energy, hydrogen, maritime, and industrial manufacturers requiring AM certification and material development

Industry Verticals

Aerospace; Energy; Hydrogen infrastructure; Marine/Maritime; Power generation; Industrial manufacturing; Defense

Competitors

DNV GL (classification and certification, maritime AM expertise); Bureau Veritas (testing, inspection, certification across multiple sectors)

Growth & Milestones

Growth Metrics

Revenue €1.03 billion (2025, +11% YoY); adjusted EBITDA €155M (+12.5%); net profit €39.7M; 2024: €915M revenue, €138M EBITDA, ~6,200 people; ~7,000 experts / 200 offices / 70 countries (2025–26 site); strategic plan targets €2B revenue by 2030; Q1 2026 revenues €246M

Major Milestones

1861: Founded as Registro Italiano Navale; 1999: Expanded beyond maritime classification; 2018: Guidelines for metallic AM products (Power Industry); 2023: ~€797M revenue; Jun 2025: Acquired Foreship (marine engineering); 2024: €915M revenue, €138M EBITDA; May 2026: 2025 results €1.03B revenue, €155M adj. EBITDA (first €1B year); 2030 target: €2B revenue, ~10,000 employees

Notable Customers

Nikon SLM Solutions; Energy sector operators; Aerospace and defense contractors; Hydrogen infrastructure developers; Maritime/shipping industry

https://www.rina.org

Why this company matters

AMPulse analysis, not a company disclosure

RINA occupies a distinct position as a certification authority and engineering consultancy that has vertically integrated additive manufacturing capabilities. Unlike pure-play AM service bureaus or standalone testing labs, RINA combines its regulatory expertise—originally developed for maritime classification—with in-house metal powder production, material characterization, and process development. This integrated model is designed to de-risk AM adoption for clients in highly regulated sectors by providing a single source for material specification, production, and final component certification.

The company's core service offering spans the entire AM value chain. Its Advanced Materials and Additive Manufacturing Laboratory supports activities from alloy design and powder feedstock production using techniques like gas atomization, through to component manufacturing via laser powder bed fusion (PBF-LB) and binder jetting (BJT). A key technological advantage is its control over powder quality and characterization, reducing dependency on external suppliers for critical materials like nickel superalloys and titanium grades used in extreme environments.

RINA's primary customer segments are industrial manufacturers and infrastructure developers in aerospace, defense, energy, hydrogen, and maritime. These clients require certified metal AM components that meet stringent industry standards. The company partners with OEMs like Nikon SLM Solutions on specific initiatives, such as the H2AM Open Lab focused on hydrogen applications. Its global network of offices facilitates local certification support for international projects.

RINA's strategic moat is its long-established credibility as a third-party certifier and its published industry guidelines for AM, which are recognized in maritime and power generation sectors. However, its position faces competition from other major certification bodies like DNV and Bureau Veritas, which are also expanding their AM service portfolios. The company's growth plan, targeting €2 billion in revenue by 2030, hinges on scaling its technical consultancy while maintaining its reputation for rigorous, impartial certification.