Elyse Energy secures funding for sustainable fuels production projects

Elyse Energy, a French company producing sustainable fuels and low-carbon feedstock, has secured circa €120 million from Hy24, PGGM, Bpifrance and Mirova to accelerate the development of its e-methanol and sustainable aviation fuel production projects in France and Spain.

Hy24, a private asset manager focused on the hydrogen economy, and Mirova, an affiliate of Natixis Investment Managers, are Elyse Energy’s long-standing partners, while PGGM, a pension fund investor, and Bpifrance, a public investment bank, are new investors.

Elyse Energy said that this funding round will enable the company to pursue the development of its most advanced projects to the final investment decision (FID), a prerequisite for launching construction while consolidating and expanding the project portfolio.

The company also pointed out that its projects align with French and European objectives for decarbonization and green reindustrialization, as reflected in the European Green Deal and its sectoral initiatives such as the ReFuelEU Aviation and FuelEU Maritime regulations.

Pascal Pénicaud, President and Co-Founder of Elyse Energy, stated: “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. The energy transition is accelerating, and we are proud to actively contribute to this transformation. We extend our heartfelt thanks to Hy24 and Mirova for their renewed trust, and we are delighted to welcome two leading investors, PGGM and Bpifrance, to support our vision.”

To note, sustainable fuels and low-carbon feedstock are expected to play a critical role in the energy transition, particularly in maritime transport, aviation and the chemical industry, by offering immediate solutions compatible with existing infrastructure.

Commenting on the funding, Pierre-Etienne Franc, Co-Founder and Chief Executive Officer of Hy24, said: “We must stay the course on French and European ambitions to decarbonize 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. We are proud to support entrepreneurs like Elyse Energy and the development of projects contributing to the collective effort toward greater energy sovereignty.”

David Jerez Antoni, Associate Director at PGGM Infrastructure, remarked: “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, expressed pride in supporting Elyse Energy, and Anne-Laure Messier, Investment Director at Mirova, pointed out that Elyse Energy’s strategy aligns with Mirova’s approach.