Today’s entrepreneurs and industry leaders are all about flashing their luxurious life on social media. But even then, there are still a few humble leaders who are not interested in showcasing their riches and prefer living a quiet, simple life, protecting the privacy of their own and their loved ones, working day-in, day-out just like any other corporate employee. Francesco Mazzagatti, Viaro Energy’s CEO is one such personality who is more about his contributions in the energy space than anything else. With an estimated net worth of 1.2 billion dollars, this Italian-origin self-made businessman and entrepreneur runs an independent energy company that holds major interests in the UKCS and the Dutch North Sea.
Coming from the background of entrepreneurs, Francesco Mazzagatti was destined for himself to become one too. After garnering industry experience in oil trading, he understood that the energy industry is where he can apply his honed skills. This led to the birth of Viaro Energy, whose first major acquisition was that of RockRose Energy. Today, Viaro Energy is one of the most active investors in the North Sea Basin, holding interest in a series of oil reserves.
Why Francesco feels that energy is more geopolitically influenced today
While energy sectors around the globe are eyeing for a sustainable future where renewables become the driving force of tomorrow’s energy mix, the real picture is more contrasting than it appears. In Francesco’s views, governments have made energy a part of their national strategy; it is no longer a product that was bought and sold as per need. However, now when investors are considering allocating capital, it is not just about the project. It is also about under which government’s jurisdiction the project is taking place and whether the political environment will favor their investments. Investors understand that running operations in the energy space come with degrees of risks; but they don’t want to deal with incoherence. They would not want their projects to constantly get affected by geopolitical turmoil that has become pretty common in contemporary times.
Francesco’s other plans for Viaro
Today, as more and more focus is diverted towards renewable energy, eyes are slowly beginning to turn once again towards nuclear energy. Unlike renewables like wind and solar that are influenced by weather conditions, nuclear energy is more reliable because it is constant. However, past disasters like Chernobyl and Fukushima have shown how nuclear energy, if mistreated, can actually wipe out the entire civilization. Hence, to optimise this technology with responsibility, Viaro Energy has tied up with Newcleo. The partnership with the nuclear technology developer explores whether advanced modular reactor technology could help reduce emissions from oil and gas operations.
SRM Foundation – a step towards sustainability and social justice
Mazzagatti’s vision for a sustainable and cleaner energy shift has led to the establishment of the SRM Foundation, through which efforts in the energy space do not just focus on technology and emissions. People and communities that get affected by the shift also have a voice and the foundation ensures that they are heard. The foundation is also working in the education space where it is tying up universities so that students are exposed to potential opportunities in the energy space that they can explore.