Latest news with #L10
Yahoo
5 days ago
- Business
- Yahoo
Eni Eyes Strategic Partnership With GIP in CCUS Business
Eni S.p.A. E has entered into exclusive negotiations with Global Infrastructure Partners ('GIP'), an investment group within BlackRock, to potentially sell a 49.99% co-control stake in its carbon capture, utilization, and storage ('CCUS') subsidiary, Eni CCUS Holding. The agreement marks a significant move in Eni's strategy to accelerate energy transition investments while unlocking value from its growing portfolio of decarbonization assets. The exclusivity period will allow both parties to complete due diligence and finalize transaction documentation. Eni CCUS Holding operates several key carbon capture initiatives, including the HyNet and Bacton projects in the UK and the L10 project in the Netherlands. It also holds future acquisition rights to the Ravenna CCS project in Italy, offering GIP a gateway to some of Europe's most critical carbon management infrastructure. Eni stated that the deal emerged from a competitive selection process with major international players, highlighting strong market interest in CCUS growth potential. In addition to acquiring a nearly 50% stake, GIP is expected to co-invest in expanding the CCUS platform. Eni views this as a validation of the value it's building within its energy transition portfolio, which includes renewable energy, sustainable mobility and low-carbon technologies. Eni recently secured financing for the Liverpool Bay CCS project, a key component of the UK's HyNet industrial cluster. The project aims to capture CO2 emissions from industrial facilities in North West England and North Wales, transporting them for permanent storage beneath the Irish Sea. Following project approval by the North Sea Transition Authority, Eni awarded major EPC contracts to Italian firms. Saipem will build a new CO2 compression station, while Rosetti Marino will deliver four offshore platforms for long-term CO2 storage. Earlier in May, Eni was among 44 oil and gas firms tasked by the EU to advance carbon storage initiatives to meet a bloc-wide goal of injecting at least 50 million tons of CO2 annually by 2030. The timing of Eni's stake sale discussions signals strong investor appetite for such infrastructure as Europe's regulatory and climate ambitions intensify. Eni's potential partnership with GIP could serve as a model for how legacy energy companies monetize transition-related assets while leveraging external capital to scale their decarbonization footprint across Europe. E currently carries a Zack Rank #4 (Sell). Investors interested in the energy sector may look at some better-ranked stocks like Subsea 7 S.A. SUBCY, Energy Transfer LP ET and RPC Inc. RES. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer's systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line. The Zacks Consensus Estimate for ET's 2025 EPS is pegged at $1.44. The company has a Value Score of A. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to shareholders through consistent dividends and share buybacks. RPC's current dividend yield is higher than that of the composite stocks in the industry. Its new Tier IV dual-fuel fleet has boosted profits, with plans to further expand high-efficiency equipment to enhance operational capabilities. The Zacks Consensus Estimate for RES' 2025 EPS is pegged at 38 cents. The company has a Value Score of A. 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 Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
6 days ago
- Business
- Yahoo
Eni enters exclusivity agreement with GIP for sale of 49.99% stake in CCUS business
Eni has entered into an exclusivity agreement with Global Infrastructure Partners (GIP), a global infrastructure investor and a part of BlackRock. This agreement is intended to advance the confirmatory due diligence process and finalise the documentation for the sale of a 49.99% co-control stake in Eni CCUS Holding. Eni CCUS Holding is a 'leading player' in the European carbon capture, utilisation and storage (CCUS) sector, operating projects such as Hynet and Bacton in the UK, and L10 in the Netherlands. It also holds the future right to acquire the Ravenna project in Italy, contingent upon regulatory and market developments. In the medium to long term, there is potential for expanding this platform with additional CCUS projects, according to Eni. As per the final agreement being negotiated, in addition to initially acquiring a 49.99% stake in Eni CCUS Holding, GIP will also back investments in the CCUS projects. This move is part of Eni's satellite model strategy to draw strategically aligned capital from 'valuable new partners at attractive terms'. Eni stated that this approach underscores the value it is generating in its new energy transition-related ventures and funding further growth. The agreement comes after a 'thorough' selection process that involved many international players expressing interest in the company. CCUS technology is recognised as a mature and safe method for reducing emissions, especially for industries where decarbonisation is challenging, while also being considered a crucial component of the energy transition. Last month, Eni achieved financial close with the UK's Department of Energy Security and Net Zero (DESNZ) for the Liverpool Bay CCS (carbon capture and storage) project. This enables the project to proceed to the construction phase, stimulating local supply chain investment. Eni is also the operator of the CO₂ transport and storage system for the HyNet Industrial Cluster. "Eni enters exclusivity agreement with GIP for sale of 49.99% stake in CCUS business" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Eni in talks with GIP for sale of 49.99% of carbon capture unit
By Francesca Landini MILAN (Reuters) -Eni has entered exclusive talks to sell a 49.99% stake in its carbon capture, utilisation and storage (CCUS) business to BlackRock's infrastructure fund GIP, the Italian energy group said on Tuesday. The move is part of Eni's broader strategy to develop dedicated units - or satellites - and sell minority stakes in them to fund their growth. That allows Eni to expand its low-carbon businesses while preserving its capacity to invest in oil and gas activities, Chief Transition and Financial Officer Francesco Gattei recently said. Eni CCUS Holding includes the Hynet and Bacton projects in Britain and L10 in the Netherlands, and has future rights to acquire Italy's carbon capture project in Ravenna. According to the agreement under negotiation, GIP will not only acquire a stake but also support investments to develop the CCUS projects, Eni said in a statement. The Italian group said the agreement came after a selection process among several suitors. Sources told Reuters in March that GIP, HitecVision, Macquarie, Italy's Snam and Thailand's PTT Exploration and Production Public Company had presented non-binding bids for the business. CCUS technology removes CO2 produced by industrial processes from the atmosphere or captures it at the point of emission and stores it underground. The International Energy Agency says the technology can play a vital role in achieving global climate goals. But critics say it risks prolonging the use of fossil fuels and question its commercial viability. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Indian Express
03-05-2025
- Business
- Indian Express
‘AI enables convenience, intelligence, and autonomy': Dreame India MD on the future of smart cleaning
'The AI capabilities in our products are more advanced than what you see in other appliances. We use multiple technologies such as LiDAR, 3D structured lights, and cameras all working together with the primary focus on obstacle recognition,' said Manu Sharma, managing director at Dreame India. The executive revealed that the company's robots can identify almost 200 objects with 99 per cent accuracy. This, according to him, is no easy feat, as Dreame uses eight billion data sets to reach this level of precision. In a recent interview with Sharma spoke at length about Dreame's vision for India, AI in lifestyle tech, barriers to adoption, and more. During the conversation, Sharma revealed that in India, the penetration of lifestyle tech products is less than one per cent, signalling massive growth potential. The company, which is known for its futuristic robotic vacuums, sold 1.5 lakh units in 2025. Sharma shared that in 2025, Dreame expects to double its sales. AI-powered cleaning solutions When asked how Dreame is using AI to transform everyday chores through lifestyle tech experiences, Sharma enumerated how they were harnessing AI for their suite of home appliances. Talking about the role of AI, he said that be it wires, shoes, or pets, Dreame's robots can recognise them effortlessly, and the second key focus is stain recognition. ICYMI | 'AI is a tremendous tool to augment you': Manish Gupta of Google DeepMind 'When the AI detects the stain, it activates the cleaning process by releasing more liquid to break it down, cleaning it up and suctioning it repeatedly. For completely wet stains, the absorbent mop dives in to clean it up. For larger debris, such as pet food, the high suction power kicks in. The AI adjusts based on different conditions, making it highly adaptable,' explained Sharma. Another key area is pet recognition, and Dreame machines can identify pets with 99 per cent accuracy and ensure that they avoid bumping into them. Sharma also stressed on the privacy angle. 'All the AI data sits on the machine and is not stored on the cloud. We're very conscious about consumer privacy and follow strict guidelines. Any files that are sent are encrypted, providing an extra layer of security.' Sharma shared that Dreame deploys multiple AI technologies – SLAM navigation, 3D structured light, and cameras to recognise and avoid obstacles. Resonating with Indian users When asked which Dreame device has resonated the most with Indian consumers, Sharma revealed that the L10 Prime is the biggest seller. 'It offers a large-capacity mopping function, and at a price point of Rs 34,999, it's the only product in the market with those features. It's very well received,' he said. The executive said the brand's L series and the X series have captivated Indian users. He shared that these models offer larger dust bins and mopping capabilities at an affordable price point. 'When I joined, the L10 was priced at Rs 54,999; now it's at Rs 49,999, making it even more accessible,' said Sharma, adding that Dreame is number one in the premium segment. Although Dreame is seen as a premium brand, it has a complete portfolio across price ranges. The Indian market is not only price sensitive; consumers are particularly conscious about quality and the longevity of appliances. When asked about the durability of products like the L10 Prime, Sharma, while acknowledging that technology will continue to evolve, said that older Dreame appliances continue to work seamlessly. 'We've been in India for only about six months, and so far, users are having a smooth experience. Of course, like any appliance, proper use and maintenance matter. If users don't clean or maintain the product, that could lead to issues,' he said. Myths about robotic cleaners Dreame is among one of the few brands that are making robotic cleaners available to a wider segment of consumers in India. When asked about the biggest consumer myths or barriers around the adoption of robotic cleaners in India, Sharma acknowledged that anything new and 'outside the hierarchy of basic needs' takes time to be adopted. The executive added that many consumers bought robotic cleaners during the pandemic. 'The early adopters helped drive initial demand. Now, we're seeing more mass adoption, especially in places like South India. In fact, 45–50 per cent of India's robotic vacuum market is in the South,' said Sharma, citing high literacy rates and difficulty in finding domestic help and the innate need to have more control over how their homes are cleaned. The trend, according to Sharma, is not limited to South India; similar trends are being witnessed in major hubs like Mumbai and Gurugram, places where nuclear families, working couples, and solo households are common. 'I wouldn't call these myths or barriers—I'd call it a journey of education. Our biggest job is to inform and educate consumers about what these machines can do,' he said. The main barrier is awareness; however, Indian consumers are tech-savvy. Robotic vacuums or AI-powered lifestyle tech are rapidly making strides, and Dreame, with its unique line of offerings, aims to educate consumers about the potential of these machines. Sharma added that the company is also planning to enter offline retail soon.
