{"id":83061,"date":"2024-03-18T00:00:00","date_gmt":"2024-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/18\/kuwait-petroleum-international-to-purchase-50-of-italian-biofuels-company\/"},"modified":"2024-03-18T00:00:00","modified_gmt":"2024-03-18T00:00:00","slug":"kuwait-petroleum-international-to-purchase-50-of-italian-biofuels-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/18\/kuwait-petroleum-international-to-purchase-50-of-italian-biofuels-company\/","title":{"rendered":"Kuwait Petroleum International to purchase 50% of Italian biofuels company"},"content":{"rendered":"

Kuwait Petroleum International (KPI)'s Italian office is set to acquire a 50% <\/strong>stake<\/strong> in Italian biofuels firm <\/strong>Eco Fox<\/a><\/strong>, KPI\u2019s CEO Shafi Taleb Al-Ajmi told Kuwait News Agency<\/a> (Kuna) on Friday. The financial details of the agreement were not disclosed and the agreement is pending approval from Italian authorities.<\/p>\n

Why is this important? <\/strong>The acquisition will support KPI\u2019s goals of developing, producing and distributing alternative fuels, Al-Ajmi told Kuna, adding that it also aims to help the company achieve its 2050 energy transition<\/a> targets. KPI supplies fuel to 70 international airports and manages 2.8k gas stations in Italy, Kuna notes.<\/p>\n

About Eco Fox: <\/font><\/strong>Eco Fox<\/a><\/strong> is an Italian renewable fuel producer and distributor which produces biodiesel made from vegetable oil, animal fat, and recovered used cooking oil. The company\u2019s plant has a production capacity of 200k tons per year. Eco Fox also produces byproducts including glycerine, acid oils and potassium salts which can be used in agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements include installing 20 solar plants across 17 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