Eni, through Eni International B.V., together with LiveStream LLC, announced their plan to float New Energy One Acquisition Corporation Plc (“NEOA”) on the London Stock Exchange.

LiveStream and Eni are the sponsors of NEOA, which was established to participate in or benefit from the global transition to a low carbon economy.

NEOA plans to amass up to £175 million, £17.5 million covered by Eni (with the possibility of contributing up to £25 million), through an offering and subscription in connection with admission.

As part of the sponsor group, Eni said it also will offer its strategic and technical support and unique market insight around opportunities in the decarbonization space.

Francesco Gattei, Chief Financial Officer of Eni, said: “Our strategy for the energy transition involves several technological and industrial initiatives to ensure the success of our ambitious net zero commitments, and in particular our decision to partner with NEOA underlines our commitment to accelerating the near-term decarbonization of fossil fuels and hard to abate industrial processes”.