Elyse Energy secures €120m to advance sustainable fuels
French sustainable fuels company Elyse Energy has secured €120m ($126.3m) in funding from a consortium of investors including Hy24, PGGM, Bpifrance and Mirova.
“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 … We are proud to support entrepreneurs like Elyse Energy and the development of projects contributing to the collective effort toward greater energy sovereignty,” said Pierre-Etienne Franc, co-founder and CEO of Hy24.
This investment will accelerate the development of Elyse Energy’s e-methanol and sustainable aviation fuel (SAF) production projects in France and Spain.
The funding will enable Elyse Energy to advance E-CHO project – in addition to others – towards a final investment decision (FID), bringing it closer to construction and operation.
“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,” said Pascal Pénicaud, president and co-founder, Elyse Energy.
Launched in 2022, the company’s E-CHO project, located in Lacq industrial hub in the southern region of France, has a planned production capacity of 82,000 tons of sustainable aviation fuels, 200,000 tons of e-methanol for maritime transport and industry and 28,000 tons of naphtha. The project will house two facilities including eM-Lacq e-methanol production and BioTJet to produce e-bio-kerosene.
In addition to E-CHO, Elyse Energy is developing other projects, such as eM-Rhône and eM-Numancia, which are also focused on producing sustainable fuels and low-carbon feedstock.
Elyse Energy was advised by Nomura Greentech as financial advisor (M&A) and by CLPCliperton for legal matters.
The consortium comprising Hy24, PGGM, Bpifrance, and Mirova was advised on legal aspects by Gide Loyrette Nouel.
To note, this funding announcement builds on earlier investment by Hy24 and Mirova in Elyse Energy.