Eni-backed Ecofuel to acquire FRI-EL Biogas.

Eni-backed Ecofuel, a company responsible for managing investments in the circular economy, agreed to acquire FRI-EL Biogas, a company operating in biogas production sector. Financial terms were not disclosed. “With this deal, we have laid the foundations for strong growth in the biomethane sector, which will be distributed in Eni’s service stations, both as compressed natural gas and as liquefied natural gas. This is a strategic business area for us on the path to completely eliminating our emissions, and represents a significant contribution to decarbonizing transport and our ability to offer sustainable products to our customers. It provides a new and significant level of substance to continue on the path outlined in our strategy," Claudio Descalzi, Eni CEO.