BAKU, Azerbaijan, July 24. The European Investment Bank (EIB) and Italian Eni have signed a 500 million euro financing agreement to support the conversion of Eni’s refinery in Livorno, Tuscany, into a biorefinery, Trend reports.
The 15-year loan will contribute to the construction of new plants for producing hydrogenated biofuels, including a 500,000-tonne-per-year Ecofining™ unit and a biogenic pre-treatment facility.
The agreement was signed at Eni's headquarters by EIB Vice-President Gelsomina Vigliotti and Eni CEO Claudio Descalzi. The project will use Eni’s proprietary Ecofining™ technology, developed by its sustainable mobility arm Enilive, to produce HVO (hydrogenated vegetable oil) from renewable feedstocks such as used cooking oil and agricultural waste.
“This financing supports a high-value project for the environment and for the energy transition, helping to decarbonise the transport sector,” said Vigliotti. Descalzi added that the agreement reflects Eni’s commitment to emissions reduction and marks the conversion of a third refinery into a biorefinery in Italy, following Venice and Gela.
The new Livorno biorefinery will produce HVO diesel, HVO naphtha, and bio-LPG from plant-based waste and residues. Future plant adjustments could allow for the production of sustainable aviation fuel (SAF), aligning with EU climate goals and growing demand for low-emission fuels.
The project supports Italy’s biofuel targets under EU regulations, aiming to boost pure biofuel production from 300,000 tons in 2023 to 1 million tonnes by 2030. Demand for hydrogenated biofuels globally is expected to grow by 65% between 2024 and 2028.