Eni's Enilive and easyJet Join Forces for SAF Supply in Italy

Enilive, Eni SpA’s E mobility services and products subsidiary, has partnered with European airline easyJet through two key agreements to advance the use of Sustainable Aviation Fuel (“SAF”) in Italy. The collaboration aligns with the companies’ mutual ambition to decarbonize the aviation sector.Per the terms of the first agreement, Enilive will supply easyJet with SAF for flights from Milan Malpensa Airport, supporting routes to Norway (Oslo and Tromso) during the winter season. This SAF, comprising 20% pure SAF blended with conventional jet fuel, aligns with SEA’s SAF Support Program 2024, which provides financial incentives of €800 per ton of SAF. Almost €500,000 has been allocated via the program to promote sustainable fuel usage at Milan’s airports this year.Enilive and easyJet have also signed a Letter of Intent for an additional supply of approximately 30,000 tons of pure SAF between 2025 and 2030. This fuel will be used across multiple Italian airports where easyJet operates, further cementing the airline’s commitment to sustainable aviation.Enilive's biorefineries in Italy primarily process waste feedstocks, such as used cooking oil and animal fats, to produce SAF. The company plans to scale its pure SAF production capacity to 400,000 tons per year by 2025, supported by the imminent startup of its Gela biorefinery. This capacity is set to increase to 1 million tons per year by 2026, with a potential doubling by 2030.Stefano Ballista, CEO of Enilive, highlighted SAF's critical role in reducing emissions in air transport. He noted that with the European Union's ReFuelEU regulation boosting demand, the company is dedicated to expanding its biorefining projects to address market requirements.easyJet continues to lead the charge for sustainable aviation. Recent initiatives include joining Project SkyPower, a consortium focused on accelerating SAF industry growth, and collaborating with Airbus to explore corporate partnerships for SAF funding.Raminder Shergill, easyJet’s director of Tax & Fuel Strategy, emphasized the airline’s commitment to sustainability, stating that SAF is integral to its decarbonization efforts and essential for the aviation industry’s journey toward net-zero emissions.With these agreements, Enilive and easyJet contribute to a sustainable aviation ecosystem, addressing current challenges and long-term goals. Their partnership serves as a blueprint for industry-wide adoption of SAF, paving the way for a greener future in aviation.E’s Zacks Rank & Key PicksE currently has a Zack Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like Smart Sand, Inc. SND, FuelCell Energy FCEL and Nine Energy Service NINE, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.FuelCell Energy is a clean energy company offering low-carbon energy solutions. 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With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position it for growth in the long run.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E): Free Stock Analysis Report FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Smart Sand (SND): Free Stock Analysis Report Nine Energy Service, Inc. 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