- Elyse Energy raised €120 million from PGGM, Hy24, Bpifrance, and Mirova to advance SAF and e-methanol projects in France and Spain.
- The investment will support key projects, including BioTJet, eM-Rhône, and eM-Numancia, that target the decarbonisation of the aviation and maritime sectors.
- PGGM and other investors highlight the importance of robust infrastructure to support sustainable fuel production and distribution.
French low-carbon fuel company Elyse Energy has raised €120 million from four major investors, including Dutch pension fund PGGM. The funding will help Elyse develop sustainable aviation fuel (SAF) and e-methanol projects in France and Spain.
PGGM invested as part of its Climate and Energy Transition Solutions mandate. The pension fund manages around €240 billion in assets for Pensioenfonds Zorg en Welzijn. PGGM joins Hy24’s Clean Hydrogen Infrastructure Fund, Bpifrance, and Mirova to support Elyse Energy’s efforts.
The investment will allow Elyse to advance key projects, such as BioTJet, eM-Rhône, and eM-Numancia, to the final investment decision stage. Reaching this stage will enable construction to begin. These projects aim to decarbonise the aviation and maritime industries while strengthening Europe’s energy sovereignty and green industrialisation.
David Jerez Antoni, associate director at PGGM, highlighted the growing importance of e-methanol and SAF in the transition to sustainable transport and industry. He stressed the need for a robust infrastructure to produce and distribute these fuels. “PGGM invests in Elyse Energy because it adds value to this energy transition,” Antoni said.
Hy24 led the funding round through its Clean Hydrogen Infrastructure Fund. Bpifrance, France’s public investment bank, and Mirova, a sustainable investment affiliate of Natixis, contributed.
Pascal Pénicaud, president and co-founder of Elyse Energy, welcomed the new investors, calling the investment a significant milestone. “This investment marks a crucial step for Elyse Energy and the wider European e-fuels industry,” Pénicaud said. He noted the growing demand for sustainable fuels in the aviation, maritime, and industrial sectors.
Hy24 emphasised that Elyse’s projects will help decarbonise key sectors while boosting Europe’s green energy ambitions. The BioTJet, eM-Rhône, and eM-Numancia projects are critical components of Elyse’s strategy to support the energy transition in Europe.
One of the investors, Mirova, specialises in sustainable finance. It is an affiliate of Natixis Investment Managers, which focuses on supporting green projects. Mirova’s involvement shows the financial sector’s growing interest in low-carbon technologies.
Bpifrance, as a state-owned investment bank, has actively supported French companies in the energy transition space. Its backing of Elyse Energy aligns with France’s broader goals of reducing carbon emissions and promoting clean energy.
The €120 million raised will enable Elyse Energy to pursue its SAF and e-methanol projects. These fuels will help reduce carbon emissions in sectors like aviation and shipping that are difficult to decarbonise.
Elyse Energy’s projects will be key to Europe’s shift toward low-carbon energy. By focusing on sustainable fuels, the company aims to decarbonise the aviation and maritime industries and establish itself as a leader in Europe’s energy transition.