H2 View understands that the funding will enable the French company to advance the “most advanced” projects in its e-fuels portfolio to a final investment decision (FID).
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.
The funding announcement comes over a year after Elyse entered a financing transaction with Hy24 and Mirova. Elyse previously said its portfolio 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.
Hy24 “strengthened its commitment to Elyse Energy” after it acquired a stake in the company through its Clean Hydrogen Infrastructure Fund.
Additionally, two new investors joined the funding round: Dutch pension fund investor PGGM through its Climate Energy Transition Solutions mandate, and Bpifrance, the French public investment bank.
“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.”
