Eni Spa - Milan-based energy company - Signs a collaboration agreement with Italian agricultural services firm BF Spa to evaluate the development of crops for energy use in Italy. The companies aim to recover degraded, abandoned or polluted land, without competing with the food chain.

The agreement has a study-phase, to evaluate the sustainability and competitiveness of an agro-industrial chain. In early 2023 a pilot phase will be launched, cultivating seeds such as safflower and brassica from which vegetable oil will be extracted and sent to Eni's biorefineries for transformation into biofuels.

"Today we are strengthening our collaboration with BF on a great potential project for the country as it aims to regenerate marginal areas, such as contaminated or degraded ones, and at the same time promotes rural development and integration with the energy industry which supports decarbonisation of transport," says Chief Executive Claudio Descalzi.

Current stock price: EUR14.30, up 0.8% in Milan on Friday

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By Heather Rydings; heatherrydings@alliancenews.com

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