Low carbon fuel company Elyse Energy has secured €120m investment from hydrogen infrastructure fund manager Hy24, Dutch pension manager PGGM, Bpifrance and Mirova.
Elyse Energy designs, develops, finances, builds and operates production facilities for sustainable fuels derived from renewable and nuclear electricity, as well as recycled carbon from industry or biomass.
The company said it will use the new capital to further the development of its e-methanol and sustainable aviation fuel (SAF) production projects in France and Spain.
The investment represents the continued backing from Hy24 and asset manager Mirova, along with new investors PGGM on behalf of Dutch healthcare pension fund PFZW and French government investment arm Bpifrance, Elyse said.
Pierre-Etienne Franc, co-founder and CEO of Hy24, said: “We must stay the course on French and European ambitions to decarbonise the maritime and aviation sectors, which cannot achieve their transition without low-carbon hydrogen.
“The role of these molecules in our future energy mixes and for our industries is central. They will enable France to position itself as a strategic player at the heart of the European energy hub.”
David Jerez Antoni, associate director at PGGM Infrastructure, said: “E-methanol and SAF are becoming indispensable links in the transition to more sustainable transport and industry. To achieve this, a robust infrastructure must be developed for the production and distribution of these sustainable forms of energy.
“PGGM is investing in Elyse Energy because it proves to create value in this energy transition. In doing so, we fulfil the ambition of our client PFZW to play a role in the decarbonization of our economies through profitable and impactful investments.”
Samuel Waddell, investment director at Bpifrance, said: “Elyse Energy has successfully developed a diversified portfolio of low-carbon molecule production projects in several key industrial sectors, including transport and chemicals.
“We are very proud to support this industrial SME and its project, which meets the challenges of reindustrialization, sovereignty and decarbonisation.”
Anne-Laure Messier, investment director at Mirova, said: “This fundraising is a decisive step for Elyse Energy in pursuing its development and increasing its positive impact on the decarbonisation of transportation.
“We are thrilled to support them in this new phase of growth. Their strategy, which contributes to European energy sovereignty and the reindustrialisation of regions, aligns with our approach as a responsible investor in energy-transition infrastructure.”
Pascal Pénicaud, president and co-founder of Elyse Energy, said: “This fundraising marks a significant milestone for Elyse Energy and, more broadly, for the development of the European e-fuels industry. It reflects the growing demand for sustainable molecules and fuels from our clients in the industrial, maritime, and aviation sectors.”
To read the latest IPE Real Assets magazine click here.
