Eni looking to bring in investors into its biofuels and bioplastics “satellite” ventures

In Italy, Reuters reports Eni plans to offload its majority investments in biofuels and bioplastics by year’s end that could bring in up to €1.3 billion. Funds are in discussion with the company to buy 10% of its Enilive venture and up to 30% of its Novamont venture that would provide liquidity for the company to hasten its energy transition. Bringing in outside investment into its “satellite” ventures allows the company to expand faster without having to tap into the oil and gas side of the business.