Eni Sustainable Mobility and PBF Energy completed the formation of a joint venture in a $885m deal.

Eni Sustainable Mobility, the Eni company dedicated to sustainable mobility, and PBF Energy, an independent refiner, completed the formation of a joint venture, St. Bernard Renewables, in a $885m deal. “Closing the St. Bernard Renewables biorefinery 50% acquisition and creating a dedicated joint venture together with an important US industrial partner as PBF confirms the relevance of biofuels in Eni Sustainable Mobility, which is already running two biorefineries in Italy, and it is a further step on the path to decarbonize transports, including ‘hard to abate’ sectors such as heavy duty," Stefano Ballista, Eni Sustainable Mobility CEO.