Ecofuel SpA, a wholly-owned subsidiary of Eni SpA, manages the production and marketing of clean components for petrol (in particular oxygenates) and methanol. Ecofuel is a global operator on international markets and, since its foundation, has mainly operated through the creation of joint ventures with international partners.
Board of Directors
The Board of Directors currently in office has been appointed by the Shareholders' Meeting of 4 November 2019 and will remain in office until the approval of the 2021 financial statements. It includes:
- Mauro Russo, Chairman
- Raffaella Lucarno, Director
- Massimo Trani, Director
- Riccardo El Sallali, Secretary
The Reconta Ernst & Young SpA has been appointed to conduct the external auditing of the company for the years 2010-2018.
Board of Statutory Auditors
The Board of Statutory Auditors currently in office has been appointed by the Shareholders' Meeting of 15 April 2019 and will remain in office until the approval of the 2021 financial statements. It includes:
- Guido Paolucci, Chairman
- Beatrice Ramasco, Standing Statutory Auditor
- Andrea Ferrari, Standing Statutory Auditor
- Maurizio Fantaccione, Substitute Statutory Auditor
- Giulia De Martino, Substitute Statutory Auditor
The Supervisory Body appointed by the Board of Directors on 27 Oct 2021, includes:
- Massimiliano Lei
Ecofuel markets all over the world (Europe, the Americas, Asia) about 1 million tonnes of products a year conducting sales directly both from its production facilities and through the logistic terminals at its disposal. EcoFuel’s main product is MTBE, which is produced mainly in Italy at Ravenna (authorised capacity of 140,000 tonnes/year), and through supplies purchased from the foreign joint ventures in which EcoFuel participates. In 1973, the company built the world’s first MTBE plant in Ravenna. In Saudi Arabia EcoFuel it has a 10% stake in Saudi European Petrochemical Co. “Ibn Zahr” which has etherification plants with an annual capacity of 1.4 million tonnes and is the country’s largest producer of MTBE, as well as plants for the production of polypropylene, with a capacity of around 1.1 million tonnes/year. Ecofuel also markets methanol, produced in particular by Supermetanol C.A., a company in which it holds a 34.5% stake, which operates a methanol production plant in Venezuela with an annual capacity of 720,000 tonnes. The range of products is completed by the bio-ethers (bio-ETBE and bio-MTBE), the production of which can be carried out at the Ravenna plant using, as appropriate, bio-ethanol or bio-methanol. The bio-ethers are products whose use makes it possible to comply with legal obligations, in force for the Italian oil market, regarding biofuel quotas for the consumer market.
The European Directive 2009/28/EU (Renewables Energy Sources “RED”), regarding the promotion of the use of energy from renewable sources, sets out the objectives on energy consumption and defines the sustainability criteria for biofuels and bioliquids, including the reduction of greenhouse gas emissions. Since January 2012 compliance with the sustainability criteria for biofuels has been mandatory in Italy, as required by Legislative Decree 3 March 2011, 28 which implements Directive 2009/28/EU (RED). EcoFuel has developed a management system for the sustainability of biofuels, to comply with the requirements of the Directive RED and has achieved the certification of sustainable products according to the ISCC (International Sustainability & Carbon Certification) standards, and the National Certification Scheme, recognized by the European Commission. The Sustainability Management System is applicable to the production of bio-ETBE/bio-MTBE from bio-ethanol/bio-methanol and marketing and storage activities. It is structured to ensure the traceability of the information associated with each batch of product and the conservation of the sustainability characteristics, along the part of the chain within the company’s competence.
|SUBSTANCE NAME||CAS Number||EINECS Number||Registration Nr.|
|MTBE tert-butyl methyl ether||1634-04-4||216-653-1||01-2119452786-27-0029|
|Raffinato 2 Gases (petroleum) C3-5 olefin - paraffinic alkylation||68477-83-8||270-765-5||01-2119533031-58-0002|