Major Yacht Maker Subscribes to Eni's Biofuel

Eni SPA has found another market for its plant-based fuel oil HVOlution, entering a deal with Azimut-Benetti Group in what the energy giant claimed is "the first yachting industry agreement that targets decarbonization".

The biofuel made of hydrogenated vegetable oil (HVO) replaces fossil fuel used in the testing of new yachts and maritime trials by the Azimut and Benetti brands starting this month, Eni said in a press release Thursday.

"This first supply of biofuel to the recreational boating industry confirms that Eni Sustainable Mobility can support maritime operators on the path to decarbonization", Stefano Ballista, chief executive of the Eni subsidiary, said in the announcement.

"The agreement with Azimut|Benetti Group is a first step that will be followed in the coming months with increased sales of HVOlution to the maritime industry as well".

The Italian government-controlled Eni earlier said it has entered a deal with a local engineering solutions company to power the maritime transport with its HVO. This partnership with RINA SPA also eyes deploying in the naval sector blue or green hydrogen and ammonia from biogenic, renewable or waste materials, Eni said May 29.

Giovanna Vitelli, president of Azimut-Benetti, also an Italian company, said about the agreement unveiled Thursday, "It is a result that enables us to extend our area of action in emissions reduction by involving the supply chain, with a focus on energy decarbonization".

The initial phase supplies HVOlution to Azimut-Benetti marinas "as the first points of supply for private individuals in Italy", the release said.

Eni and Azimut-Benetti, which has led yacht production over the last two decades according to the Global Order Book with 168 projects under construction last year, plan to build a distribution network in the later stage.

HVOlution is produced in Eni's biorefineries in the Italian cities of Gela and Venice. Made out of vegetable residues and waste raw materials, or crop-based oil, "HVOlution can deliver emissions reductions of up to 90% compared to the benchmark fossil blend, depending on the raw materials used for its production", based on European Union parameters, Eni noted in the release.

Eni last month announced partnerships on cleaner energy with the governments of Guinea-Bissau and Vietnam, among other similar agreements, as part of its emissions reduction strategy.

It has pledged to go carbon-neutral by 2050, and the “development of biofuels is one of the Eni’s Just Transition drivers based on the circular economy”, as stated in Eni’s annual report on its net zero roadmap progress.

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