Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Eni S.p.A.
  6. News
  7. Summary
    ENI   IT0003132476

ENI S.P.A.

(ENI)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 01/21 03:59:57 pm
13.088 EUR   -1.52%
07:12aENI : Kepler Cheuvreux reiterates its Buy rating
MD
02:38aENI : Goldman Sachs remains its Buy rating
MD
01/19Energy Stocks Advance Pre-Bell Wednesday
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Eni ready to spend more on nuclear fusion in green drive

11/29/2021 | 11:50am EST
FILE PHOTO: Eni's logo is seen in front of its headquarters in San Donato Milanese

MILAN (Reuters) - Italian energy company Eni is ready to invest more in a nuclear fusion project it feels could be a game-changer in the race to produce limitless clean electricity to power cities and industry, the head of the project at Eni said.

In 2018 Eni injected $50 million, as starting investment, to become the single biggest shareholder in Commonwealth Fusion System (CFS), a firm set up by the Massachusetts Institute of Technology to produce energy by fusing atoms at temperatures as hot as the sun.

"CFS is in a new round of financing for its next 2025 deadline and we're watching things carefully. We are very interested in fusion and intend to build the business," head of Eni's Fusion Program Francesca Ferrazza told Reuters.

Earlier this year CFS met a key milestone https://www.reuters.com/business/energy/eni-completes-landmark-test-energy-fusion-project-2021-09-08 to building a fusion power plant by successfully testing the coils and magnets that will hold the super-hot plasma of subatomic particles.

It is now talking to investors to help it fund the next deadline - to build a pilot reactor by 2025 that can generate more energy than it consumes.

As governments round the world pick up efforts to combat climate change, energy companies like Eni have launched transition strategies to shift from fossil fuels into cleaner energy.

Fusion, once considered science fiction, is now attracting interest from big companies. Norway's oil and gas group Equinor this year joined CFS and U.S. major Chevron Corp has invested in Seattle-based fusion startup Zap Energy Inc.

"Once fusion was the domain of scientists but now there are private investors interested and what they want to see is a shorter timeline to exploitation," Ferrazza said.

CFS expects to have a first commercial plant ready to start feeding energy into the power grid by the early 2030s. The first-of-its-kind plant, which will be built in the United States near Boston, could cost up to around $3 billion.

"There's a whole industry to be built - it's like the solar business 30 years ago... it took time to create economies of scale and the supply chain," Ferrazza says.

Further out CFS aims to build 200-400 megawatt plants and ship fusion technology to the world, using 3D printing for some of the critical parts.

According to Kepler Chevreux it may not be unrealistic to imagine 2,000 gigawatts of nuclear power deployed from 2035 to 2055 using disruptive fusion technology.

(Reporting by Stephen Jewkes; Ediitng by Emelia Sithole-Matarise)

By Stephen Jewkes


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ENI S.P.A. -1.38% 13.106 Delayed Quote.8.76%
EQUINOR ASA -2.02% 247.15 Real-time Quote.6.93%
All news about ENI S.P.A.
07:12aENI : Kepler Cheuvreux reiterates its Buy rating
MD
02:38aENI : Goldman Sachs remains its Buy rating
MD
01/19Energy Stocks Advance Pre-Bell Wednesday
MT
01/19Eni Unit Wins 10 New Exploration Licenses in the Norwegian Continential Shelf
MT
01/19Eni's Vår Energi Wins 10 Exploration Licenses in Norway
MT
01/19ENI S P A : Vår Energi has been awarded 10 new exploration licenses with 5 operatorships i..
PU
01/19ENI S P A : Finproject ISCC Plus certified products
PU
01/19ENI : Report on the purchase of treasury shares during the period from 13 to 15 December 2..
PU
01/19E-MOBILITY : Enel x, be charge and eni in synergy for electric vehicle charging
PU
01/19ENI S P A : The President of Cote d'Ivoire Alassane Ouattara meets Eni's CEO Claudio Desca..
PU
More news
Analyst Recommendations on ENI S.P.A.
More recommendations
Financials
Sales 2021 71 100 M 80 671 M 80 671 M
Net income 2021 3 863 M 4 383 M 4 383 M
Net Debt 2021 16 506 M 18 728 M 18 728 M
P/E ratio 2021 12,0x
Yield 2021 6,54%
Capitalization 46 375 M 52 597 M 52 617 M
EV / Sales 2021 0,88x
EV / Sales 2022 0,77x
Nbr of Employees 31 495
Free-Float -
Chart ENI S.P.A.
Duration : Period :
Eni S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENI S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 13,11 €
Average target price 14,51 €
Spread / Average Target 10,7%
EPS Revisions
Managers and Directors
Claudio Descalzi COO-Exploration & Production Division
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Francesca Zarri Director-Technology, Digital, R&D
Giuseppe Ricci Deputy Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
ENI S.P.A.8.76%53 323
SAUDI ARABIAN OIL COMPANY2.93%1 963 501
ROYAL DUTCH SHELL PLC14.60%191 391
TOTALENERGIES SE13.56%149 806
PETROCHINA COMPANY LIMITED12.39%148 594
PUBLIC JOINT STOCK COMPANY GAZPROM-7.34%98 596