---
schema_version: "secwatch.filing_event.v1"
accession: "0001534504-23-000028"
form_type: "8-K"
ticker: "PBF"
cik: "0001534504"
company_name: "PBF Energy Inc."
filed_at: "2023-06-28T23:59:59+00:00"
generated_at: "2026-06-13T15:31:14.415283+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PBF and Eni Sustainable Mobility form 50-50 JV at St. Bernard biorefinery; Eni pays $431M at close

## Summary
- Eni commits $835M total; $431M paid at closing; $50M contingent on milestones.
- JV owns biorefinery co-located with PBF's Chalmette Refinery in Louisiana.
- Biorefinery capacity ~1.1M tonnes/yr, producing 306M gallons/yr renewable diesel.
- Production commenced June 2023; pre-treatment unit start-up expected in coming weeks.
- Eni to increase refining capacity to over 1.6M tonnes/yr immediately.

## SEC filing metadata
- accession: 0001534504-23-000028
- form_type: 8-K
- ticker: PBF
- cik: 0001534504
- company_name: PBF Energy Inc.
- filed_at: 2023-06-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534504/000153450423000028/0001534504-23-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534504/000153450423000028/pbf-20230627.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001534504-23-000028
- JSON: https://secwatch.observer/filing/0001534504-23-000028.json
- Plain text: https://secwatch.observer/filing/0001534504-23-000028.txt

## Key facts
- Material Agreements
  PBF Energy Inc. entered into Subscription Agreement with Eni Sustainable Mobility, a subsidiary of Eni S.p.A. valued at $835 million (effective 2023-06-27).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Eni Sustainable Mobility, a subsidiary of Eni S.p.A.
  - Value: $835 million
  - Effective: 2023-06-27
  source text: On June 27, 2023 (the “Execution Date”), PBF Energy Company LLC (“PBF LLC”), a subsidiary of PBF Energy Inc. (“PBF Energy” and collectively with its consolidated subsidiaries including PBF Holding, the “Company”), closed the Subscription Agreement (the “Subscription Agreement”) with Eni Sustainable Mobility, a subsidiary of Eni S.p.A. (“Eni Sustainable Mobility”), pursuant to which PBF Green Fuels LLC, a subsidiary of the Company (“PBF Member”) and Eni Sustainable Mobility US, Inc., a subsidiary of Eni (“Eni Member” and together with the PBF Member, the “Members” or the “Initial Members”), will partner in a 50-50 joint venture, St. Bernard Renewables LLC (“SBR”) that owns the biorefinery (the “Renewable Diesel Facility”) co-located with the Company’s Chalmette Refinery in Louisiana.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534504/000153450423000028/0001534504-23-000028-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.