On July 24, Italian energy giant Eni announced the signing of a €500 million (approximately $588 million) financing agreement with the European Investment Bank (EIB) to support the conversion of its traditional refinery in Livorno, Tuscany into a modern biorefinery. The 15-year loan agreement was formalized at Eni’s headquarters in San Donato Milanese by EIB Vice President Gelsomina Vigliotti and Eni CEO Claudio Descalzi.

As the EU’s long-term lending institution, the EIB supports strategic green investments aligned with EU policy goals. This project will involve the construction of a new Ecofining™ plant with an annual capacity of 500,000 tonnes, along with a bio-feedstock pre-treatment facility. Using Eni’s proprietary Ecofining™ technology, the facility will produce hydrotreated vegetable oil (HVO), a renewable diesel made from waste cooking oil and agricultural residues. HVO can replace fossil diesel without infrastructure modifications and is suitable for road, rail, aviation, and marine transport.

Vigliotti highlighted the project’s strategic significance from both a technological and environmental perspective, calling it a model for industrial innovation driving climate neutrality. Descalzi emphasized that the Livorno biorefinery will contribute to Eni’s goal of reaching 5 million tonnes of bio-refining capacity by 2030, becoming the third such facility in Italy after Venice and Gela.

Notably, the plant will also have the flexibility to produce sustainable aviation fuel (SAF), supporting the EU’s green aviation ambitions. With global HVO demand projected to grow by 65% between 2024 and 2028, this investment not only aligns with the EU’s Renewable Energy Directive (RED III) but also helps Italy meet its legal target of using 1 million tonnes of biofuels by 2030.

In Germany, following the withdrawal of ADAC from the GHG quota trading business at the end of the 2024 allocation year, another company, EMOVY GmbH, has also exited the market by initiating insolvency proceedings. According to the Union for the Promotion of Oil and Protein Plants (UFOP), this bankruptcy — like previous ones in the emerging GHG quota sector — is a collateral consequence of a growing number of fraud cases. These include fraudulent imports of biodiesel and hydrotreated vegetable oil (HVO) from China, most recently in spring 2025, involving a fictitious HVO facility in Dubai.

Such fraudulent activities have had severe economic repercussions for the German and European biofuel value chains, especially concerning double counting in GHG quota fraud. UFOP noted that the drop in GHG quota prices to €80–90 per tonne of CO₂ reflects oversupply, which may even impact oilseed pricing. These distortions are driving export pressure and depressing biofuel prices. Despite the legal GHG quota rising from 8.0% in 2024 to 9.36%, the use of fossil diesel and fossil-bioblend mixes declined from 2.621 million to 2.065 million tonnes—mainly due to a high proportion of waste-based biofuels listed under RED II Annex IX Part A.

UFOP urges swift detection and prosecution of fraudulent activities and calls for stricter oversight of certification systems. This includes verifying plant registrations, auditing GHG calculations, and validating feedstock origins. A report by Germany’s BLE highlighted questionable emissions savings claims of over 130% from biodiesel made with “aglogies biomass” imported from Ethiopian mustard—a case that warrants further investigation.

According to Hong Kong media news on May 29, the Business Environment Council (BEC) today released the report “Study on Biodiesel and Renewable Diesel in Hong Kong”, pointing out that renewable diesel (also known as Hydrogenated Vegetable Oil (HVO)), as a second-generation biofuel, can be used in place of traditional diesel without engine modification, and carbon emissions can be reduced by up to 90%, which is the key to the transition of decarbonization of transport and heavy industry. However, Hong Kong still faces significant barriers to expanding its use.

The study, which covered global market trends, local business surveys and focus group interviews, found that local businesses have a strong interest in renewable diesel, especially in industries where it is difficult to reduce emissions, but that penetration is constrained by issues such as opaque product information, limited supply channels and a lack of regulatory recognition of its status as legal for road use.

The association suggests that suppliers should enhance product data disclosure and public education to raise public awareness of the compatibility and environmental benefits of renewable diesel. At the same time, the government needs to update local regulations to align the standards with the International Sustainability and Carbon Certification (ISCC) and the latest European Union norms, and promote cross-sectoral collaboration to ensure the legal distribution and use of renewable diesel.

The study also calls for the inclusion of biofuels in Hong Kong’s climate transition policy, with higher blending ratios, third-party verification mechanisms, and greater traceability and transparency.

May 25th, recently, a huge ship “LE**” loaded with 26,000 tons of hydrocarbon-based biodiesel successfully set sail from CNOOC Taifu Terminal to the European market. This is the 6th hydrocarbon-based biodiesel export shipment guaranteed by Zhangjiagang Maritime Safety Bureau this year, marking the steady expansion of China’s green energy products in the international market.

According to statistics, since 2025, Zhangjiagang port has shipped 116,600 tons of hydrocarbon-based biodiesel, with a cargo value of about 1.34 billion yuan, opening up a “green channel” for the high-quality development of the local economy and the export of biofuel industry.

As part of its drive for a low-carbon transition, Skoda has officially launched HVO (Hydrogenated Vegetable Oil) synthetic diesel fuel at its Czech plant as an initial filler fuel for new production diesel models and for its in-house logistics fleet.The HVO fuel, which is made from the hydrotreating of waste fats, oils, and used cooking oils, is not reliant on crop cultivation, avoids the need to use arable land, and cuts carbon emissions by as much as 90% compared to conventional diesel fuel. The fuel is supplied by the Czech state-owned company ČEPRO.

Not only that, but all 2022 model year and newer Skoda diesel models produced from the 25th week of 2021 have been approved to use HVO fuel. Compliant models will be marked with the ‘XTL’ logo on the fuel cap. For older models, customers can check with an authorized Skoda dealer to confirm compatibility. HVO and its blends are now widely available across Europe, offering consumers a more environmentally friendly choice.

According to Karsten Schnake, Skoda’s Director of Purchasing and Sustainability, the Czech plant’s logistics fleet will use approximately 46,000 liters of HVO fuel in the second half of 2024 alone, a reduction of more than 300 tons of carbon emissions, which is a key part of Skoda’s plan to make all of its plants in the Czech Republic and India carbon-neutral operations by 2030.

By doing so, Skoda not only strengthens its position as an industry leader in green manufacturing, but also sets a practical example for the decarbonization of the automotive industry as a whole.

Global Clean Energy Holdings Inc., which owns a renewable diesel plant in Bakersfield, California, announced on April 16 that it has entered into a restructuring support agreement (RSA) with its principal creditor, Vitol Americas Corp. Vitol, as lender on the revolving line of credit and representative of the interim term loan group, controls approximately 96% of the term loan. and representative of the interim term loan group, controls approximately 96% of the term loan. The parties to the agreement also include CTCI Americas Inc.

which has formally filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas in furtherance of the reorganization transaction. Noah Verleun, President and Chief Executive Officer, thanked all parties for their continued support and said the partnership reflects confidence in its “farm-to-fuel” business model.

The company has filed a first-day motion to maintain day-to-day operations, including the payment of employee wages and benefits. To fund the restructuring, the company’s term lenders and CTCI will provide $100 million in DIP financing, which remains subject to certain conditions. The company expects to complete the confirmation process for its plan of reorganization in August.

Desmet (Desmet) recently announced that it has been awarded a new contract from LG-ENI Biorefining, a joint venture between LG Chem and ENI of Italy. Under the contract, Desmet will work with the main contractor, GS Engineering & Construction, to build a new Hydrogenated Vegetable Oil (HVO) pre-treatment plant in Daesan, South Korea.

The plant will be equipped with world-leading technology and will be dedicated to the production of sustainable aviation fuel (SAF). The project will have a design capacity of 340,000 tons per year to produce Sustainable Aviation Fuel (SAF), biodiesel and bio-naphtha from a wide range of waste oils and fats and waste grease-based feedstocks.

This project is an important part of LG-ENI Biorefining’s commitment to promoting sustainable energy solutions and reducing carbon emissions, and will contribute positively to global greenhouse gas reduction targets.