J&F Consolidates Energy and Gas Businesses Under Eduardo Antonello's Leadership

J&F, the holding company owned by brothers Joesley and Wesley Batista, has unified its electricity and natural gas assets under the consolidated platform Âmbar Energia, appointing Eduardo Antonello as the new CEO. Antonello brings 28 years of experience in the energy, gas, and oil industries and will lead an integrated business that includes gas supply infrastructures, 59 generation plants, and a trading company for energy and gas.

This corporate restructuring follows a turbulent period for J&F’s energy sector. Former head Marcelo Zanatta stepped down in early April 2026 after more than six years at the helm, during which time Âmbar Energia expanded from a single 480 MW thermoelectric plant in Cuiabá to several additional thermoelectric assets through acquisitions such as Roraima Energia and Amazonas Energia, along with a stake in Eletronuclear via Axia. Zanatta's planned departure came after Âmbar secured contracts totaling approximately 2 GW in the recent Capacity Reserve Auction (LRCap), generating expected revenue exceeding R$30 billion. However, dissatisfaction with the results of a second auction round accelerated his exit, along with other executives like Cristiano Wujastyk, the Director of New Business.

The newly unified Âmbar Energia platform integrates J&F’s previously fragmented assets and recently expanded its operations with the acquisition of a 90% stake in Logás, a distributor of liquefied natural gas (LNG), compressed natural gas (CNG), and biomethane headquartered in Betim, Minas Gerais. This move supports J&F’s strategy to serve regions beyond traditional pipeline networks through truck gas delivery and off-grid logistics, focusing also on vehicle decarbonization.

J&F’s natural gas operations extend through MGAS for gas commercialization and include oil and gas exploration outside Brazil via its subsidiary Fluxus. Despite recent turbulence, J&F emerged as one of the main winners in the federal energy auction alongside large players like Eneva, Petrobras, and Copel, although it currently faces a dispute with the National Electric Energy Agency (Aneel) over alleged system errors that prevented some bidding activity, a claim Aneel has rejected.

The consolidation of J&F’s energy and gas businesses under Eduardo Antonello and the formalization of Âmbar Energia as a unified platform represent strategic moves to strengthen the group’s position in Brazil’s dynamic energy sector and optimize its asset portfolio amid market challenges.