E-fuel producer Elyse Energy has secured funding from Hy24 and Mirova to advance its e-methanol and sustainable aviation fuel (SAF) initiatives in France and Spain.
Hy24, a clean-hydrogen-enabling investment platform, and Mirova, a sustainable investment firm, are investing in Elyse Energy to accelerate the development of its projects in France and Spain, aiming for industrial commissioning in 2027 and 2028.
E-fuels are crucial in reducing carbon emissions in aviation, maritime transport and the chemicals industry. Elyse Energy will deploy nearly 2.5 GW of installed capacity producing more than one million tonnes of e-methanol and 200,000 tonnes of SAF annually.
As an example, Elyse Energy’s eM-Rhône project, backed by the European Innovation Fund, aims to produce 150,000 tons of eco-friendly e-methanol each year for use in maritime and industrial applications.
Pascal Pénicaud, president of Elyse Energy, said: “E-fuels represent a unique opportunity to combine decarbonisation, energy sovereignty and reindustrialisation in France and Europe. As with gas and renewable electricity, the mobilisation of private capital will be crucial in financing the creation of this new sector.”
Pierre-Etienne Franc, CEO and co-founder at Hy24, said: “Sustainable fuels are essential to decarbonise the maritime and aviation sectors and their deployment cannot be achieved without renewable and low carbon hydrogen. Our ambition is to support entrepreneurs, helping ensure France can become a major platform forlow-carbon fuel production in Europe.”
Anne-Laure Messier, investment director at Mirova, said: “Elyse Energy’s ambitions are in line with one of the major objectives pursued through our fifth investment strategy in energy transition infrastructure, which aims to support developers in their deployment of clean energies and innovative solutions to decarbonise the transport sector.”
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