12:07 AM EDT, 10/21/2026 (MT Newswires) -- The Ravenna carbon capture and storage project developed by energy group Eni (ENI.MI) and gas grid operator Snam (SRG.MI) was selected for European Commission funding. The project's second phase was chosen under the 2025 Innovation Fund for net-zero technologies under the large-scale category, according to a Tuesday release. The expansion aims to increase the Ravenna hub's annual carbon dioxide storage capacity to 4 million tonnes by 2030 and potentially increase it to 16 million tonnes in later development phases.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.