Eni's Versalis Makes Breakthrough in Food Contact Packaging

Eni's E chemical company, Versalis, in collaboration with Forever Plast, has launched REFENCE, an innovative range of recycled polymers designed for food contact packaging.

REFENCE is now available in the market, specifically for polystyrene applications such as yogurt pots, trays for meat and fish, and various types of rigid and expanded packaging. This new range enhances the Versalis Revive portfolio of mechanically recycled materials, pushing the boundaries of its applications and enabling direct contact with food.

The development of REFENCE has been made possible through NEWER technology, a groundbreaking advancement developed in Versalis' research laboratories in Mantua and industrialized at Italy's leading post-consumer plastic recycling company Forever Plast's facilities in Lograto (Brescia).

The co-development agreement between Versalis and Forever Plast has resulted in a purification process for recycled polymers that complies with EU Regulation 1616/2022 on recycling. Additionally, the technology has received a non-objection letter from the U.S. Food and Drug Administration, further validating its safety and effectiveness for food contact applications.

Circularity stands as a fundamental strategic lever for Eni and Versalis. As part of their commitment to enhancing the value of end-of-life plastics, they are developing complementary recycling processes and integrating these processes into Italy's national collection chain. This commitment is exemplified by the ongoing construction of their first advanced mechanical recycling hub in Porto Marghera, which focuses on post-consumer plastics, particularly styrenic polymers.

The collaboration between Versalis and Forever Plast aims to address application sectors, such as food packaging, wherein sustainability and quality are paramount. By advancing recycling technologies and processes, the companies are strengthening their leadership in mechanical recycling within Europe and setting new standards for the industry.

With REFENCE, Versalis and Forever Plast are not only redefining the limits of recycled polymer applications but also contributing to a more sustainable and circular economy. This innovative product range is poised to make a significant impact on the food packaging industry, ensuring that recycled materials meet the highest standards of safety and quality.

Zacks Ranks & Stocks to Consider

Eni currently carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked companies mentioned below. The three companies presently sport a Zacks Rank #1 (Strong Buy).

USA Compression Partners, LP USAC is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.

The Zacks Consensus Estimate for USAC's 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. USA Compression Partners has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.

Sunoco LP SUN is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, the company distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.

The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.

SM Energy Company SM is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company's attractive oil and gas investments should create long-term value for shareholders.

The Zacks Consensus Estimate for SM's 2024 EPS is pegged at $6.95. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2025 in the past seven days.

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