EIB and Eni signed a €500M deal to convert Livorno refinery into a biorefinery, supporting Europe's green transport transition.
The European Investment Bank (EIB) and Eni have formalized a major financing agreement worth €500 million over 15 years to support the transformation of Eni’s Livorno refinery in Tuscany into a state-of-the-art biorefinery. The deal was officially signed at Eni’s headquarters in San Donato Milanese by EIB Vice-President Gelsomina Vigliotti and Eni’s Chief Executive Officer, Claudio Descalzi.
This financing initiative is aimed at facilitating the development of advanced infrastructure at the Livorno site for the production of hydrogenated biofuels. Specifically, the project includes the construction of a biogenic feedstock pre-treatment unit and a 500,000 tonnes per year Ecofining™ plant. Eni's subsidiary Enilive, which focuses on sustainable mobility solutions, will oversee the project. Utilizing proprietary Ecofining™ technology, Enilive produces HVO (Hydrogenated Vegetable Oil), a next-generation biofuel derived from renewable raw materials such as used cooking oil and waste from the food industry. Notably, HVO can be used in approved engines and is compatible with current fuel distribution systems.
EIB Vice-President Vigliotti emphasized the significance of the investment, stating that it represents a high-value environmental, technological, and strategic initiative. She underscored how such industrial innovation can help accelerate progress toward climate neutrality while simultaneously delivering sustainable economic value to the region.
Eni CEO Claudio Descalzi highlighted the importance of this development as the company continues to push forward its decarbonization strategy. “This agreement with the EIB reflects Eni’s tangible and high-quality dedication to transitioning to low-carbon energy,” said Descalzi. “It also validates our method of combining all available, effective technologies to reduce emissions.” The Livorno site becomes Eni’s third biorefinery in Italy, following the successful conversions of its plants in Venice and Gela.
HVO biofuels are seen as a key solution for the immediate reduction of greenhouse gas emissions in the transport sector. These emissions stem not only from road transport but also from air, maritime, and rail sectors, all of which can benefit from cleaner fuel alternatives. The transformation of the Livorno refinery is aligned with Enilive’s broader plan to ramp up biofuel production in response to the surging demand within Italy and the wider European Union. This initiative supports RED III (Renewable Energy Directive) objectives and Italy's national targets for the release and use of pure biofuels.
Globally, the demand for hydrogenated biofuels is expected to surge by 65% between 2024 and 2028. The Livorno biorefinery will be equipped to process a variety of biogenic inputs—primarily waste and plant-based residues—to produce HVO diesel, HVO naphtha, and bio-LPG. A notable feature of the new facility is its adaptable design, allowing for future modifications that could enable the production of Sustainable Aviation Fuel (SAF)—a critical component in the decarbonization of the aviation sector.
This project is not just a milestone for Eni but also contributes meaningfully to Italy’s and Europe’s broader energy transition goals. By advancing biofuel production capacity, the initiative aids in reducing CO2 emissions and fulfilling Italy's legislative targets, which foresee a rise in the use of pure biofuels from 300,000 tonnes annually in 2023 to 1 million tonnes by 2030.
