Elyse Energy, a Low carbon fuel company has secured €120m investment from hydrogen infrastructure fund manager Hy24, Dutch pension manager PGGM, Bpifrance and Mirova. Elyse Energy makes production facilities for sustainable fuels derived from renewable and nuclear electricity and recycled carbon from industry or biomass. The company will use the recently secured money to support the development of its e-methanol and sustainable aviation fuel (SAF) production projects in France and Spain

When operational, Elyse has said its most advanced projects -BioTJet, eM-Rhône and eM-Numancia – could save 700,000 tonnes of CO2 equivalents per year and contribute to Europe’s security of supply and reindustrialisation

Elyse will deploy nearly 2.5GW of installed capacity and produce more than one million tonnes of e-methanol and 200,000 tonnes of SAF annually

“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,” claimed Pierre-Etienne Franc, Co-Founder and CEO of Hy24.

Anne-Laure Messier, Investment Director at Mirova, reiterated this point, adding, “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.”

Elyse Energy’s President and Co-Founder, Pascal Pénicaud, stated that the funding is not only a milestone for Elyse, but “for the development of the European e-fuels industry.”

Pénicaud continued, “It reflects the growing demand for sustainable molecules and fuels from our clients in the industrial, maritime and aviation sectors. The energy transition is accelerating, and we are proud to actively contribute to this transformation.”