80 Mile PLC Makes Groundbreaking Moves with Major Energy Partnerships and Full Ownership of Ferrandina Biofuels Plant

80 Mile PLC's Strategic Advancement in Biofuels

80 Mile PLC, a publicly traded exploration and development company listed on AIM, FSE, and OTC, has made substantial strides in the renewable energy sector with recent announcements of pivotal agreements and ownership changes at its Ferrandina biofuels facility located in southern Italy. These developments include a series of strategic Memorandums of Understanding (MOUs) with notable partners, including a Fortune 500 energy group, Ludoil Energia, and JEnergy S.p.A.

Full Ownership of Ferrandina Plant

In a critical move, 80 Mile has successfully negotiated revised terms to acquire 100% ownership of Hydrogen Valley, a partnership that encompasses its Greenswitch Srl subsidiary. This acquisition, previously announced in December 2024, indicates the company's commitment to consolidating its operations within the hydrogen and biofuels sectors. As part of the acquisition, 80 Mile will make a payment of €100,000 and issue over 220 million new ordinary shares to Greendome Holdings Inc. Depending on future share values, potential additional payments are structured into this agreement, solidifying the foundation for ongoing financial growth and stability.

Groundbreaking MOUs with Major Energy Players

1. Fortune 500 Energy Group

In a landmark agreement, the company’s wholly owned Greenswitch Srl has entered into an MOU with one of the world's largest integrated energy corporations, which ranks within the top 10% of the Fortune 500. Under this partnership, the group is set to supply up to 80,000 tonnes per annum of renewable feedstocks to the Ferrandina facility starting November 1, 2025. The feedstocks will include both crude and refined Palm Oil Methyl Ester (POME) and Repurposed Used Cooking Oil (RUCO). This arrangement not only reinforces the supply chain for producing biodiesel and sustainable aviation fuel (SAF) but also positions Greenswitch as a vital contributor to Europe’s low-carbon energy transition.

2. Tolling Agreement with Ludoil Energia

The MOU with Ludoil Energia S.r.l. has also been established, which will facilitate a tolling agreement allowing Ludoil to offer feedstock while 80 Mile's Hydrogen Valley processes the material into biodiesel. This arrangement ensures minimal financial risk for the company as it does not require upfront feedstock purchases. The projections indicate this tolling structure could generate about €8 million net profit annually, with potential for total annual profits to reach €24 million with full production. The restart of the plant is planned for December 2025, with expectations for full production in January 2026.

3. Agreement with JEnergy S.p.A

Furthermore, Hydrogen Valley has signed an MOU with JEnergy S.p.A., focusing on immediate biodiesel supply and long-term discussions around SAF and hydrotreated vegetable oil (HVO). Under this agreement, supply will commence in January 2026, with annual agreements covering 10,000 tonnes of biodiesel, in addition to further bioliquids, ensuring the ongoing commitment to sustainable fuel sources.

Supporting Agreements to Foster Growth

80 Mile’s proactive approach is also reflected in previously established MOUs with NACATA Commodities and Tecnoparco Valbasento. The agreement with NACATA covers up to 120,000 tonnes per annum of feedstock supply and includes commitments to accept 40,000 tonnes of esterified bioliquid and 80,000 tonnes of biodiesel, reinforcing 80 Mile’s production capacity.

The various contracts underline 80 Mile PLC's robust strategy to enhance its role in Europe's renewable fuels market, meeting the urgent demand for sustainable alternatives. Eric Sondergaard, Managing Director of 80 Mile, emphasized the importance of these strategic alliances, stating that such partnerships signify the industry's increasing interest in developing sustainable fuel sources.

Conclusion

The culmination of these agreements permits 80 Mile PLC not only to solidify its operational base in the renewable energy sector but also to evolve into a pivotal player in Europe’s transition towards sustainable energy solutions. With an eye on innovation and environmental responsibility, 80 Mile's Ferrandina facility is poised to become a crucial hub for biofuel production, responding to the accelerating global demand for cleaner energy.

The future for 80 Mile PLC looks promising as the company harnesses its collaborations to enhance growth, profitability, and its commitment to sustainable energy amid a rapidly changing energy landscape.

For further details, visit 80 Mile's official site.