Eni and Gruppo BF team up to develop sustainable agricultural products for the production of biofuels.
They will be developed through a 50% joint venture (50% Eni, 50% BF) research projects and agricultural experimentation of seeds of oil plants to be used as feedstock in Eni’s biorefineries.
Furthermore, the agreement between the companies provides for the purchase by Eni of a minority stake in the subsidiary of BF Bonifiche Ferraresi and Eni’s entry into the share capital of BF through the subscription of a reserved capital increase.
The agreement relies on consolidated collaboration between Eni and BF in the agricultural sector for the development of economic diversification initiatives, transfer of skills and support for entrepreneurship in Italy and abroad.
The agreement has strategic value, as Bonifiche Ferraresi, with its 7,750 hectares, is the largest Italian agricultural company by Agricultural Area Used and Eni produces advanced biofuels in the biorefineries in Gela and Venice Porto Marghera, one of the tools to contribute to the containment of CO2 emissions in the transport sector. By 2023 Eni will no longer use palm oil in its production processes.
The joint venture’s testing and experimentation activities will be carried out in “Open Air Laboratories” of Bonifiche Ferraresi in Sardinia, and will be aimed at assessing the replicability of production in Italy in foreign countries where Eni is present, in particular in Africa. The jv will also be involved in the development of projects relating to the training of personnel for the development chains of agro-feedstock projects.
The identification of the most suitable plant species will follow the sustainability criteria defined in the European Directive on biofuels, promoting sustainable cultivation, protecting the soils and not subtracting land destined for the production of food products, thus favoring the sustainable economic development of marginal land in Italy and abroad.
The operation is part of the Eni’s strategy to achieve complete carbon neutrality by 2050, which includes biorefining as a strategic element, with the expected doubling of production capacity to around 2 million tons by 2024 and a further increase to 5/6 million tons by 2050.