Philip Morris International Inc. (NYSE: PM) announced it will serve as principal partner of Ferrari Hypersail, a marine engineering initiative that combines Ferrari's automotive expertise with ocean racing technology.

The partnership extends the companies' Formula 1 relationship that began in 1973. Ferrari Hypersail centers on developing a 30-meter full-foiling ocean racing monohull designed to operate entirely on renewable energy, with launch and sea trials scheduled for 2026.

The project aims to test breakthrough technologies in areas including aerodynamics, naval architecture, and high-performance systems under extreme ocean conditions. Ferrari plans to use the platform for testing innovations that could apply across multiple industries.

"Ferrari's pursuit of record-breaking performance at sea mirrors PMI's own journey of change and innovation," said Jacek Olczak, PMI's group CEO. "This moment is more than an announcement. It is a continuation of a journey that began more than 50 years ago."

Ferrari CEO Benedetto Vigna said the collaboration reflects the company's scientific approach to innovation. "With Hypersail, a platform for testing and validation under extreme conditions, we are embracing a scientific approach to redefine the limits of what's possible," he stated.

PMI will display a new visual identity on the Ferrari Hypersail vessel, marking the first external appearance of updated company iconography that reflects its evolution as a consumer packaged goods company.

The announcement was made through a company press release.