Elyse Energy Secures e-Fuels Funding from Hy24, Mirova

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by KnowESG
KnowESG_Elyse Energy Secures e-Fuels Funding from Hy24, Mirova
Image courtesy of Hy24

Elyse Energy, a prominent player in the European e-fuels sector, has announced a financial partnership with Hy24 and Mirova.

The collaboration aims to bolster the development of Elyse Energy's e-methanol and sustainable aviation fuels (SAF) initiatives in France and Spain.

Hy24, the manager of the world's largest clean hydrogen infrastructure fund, and Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, have both committed to accelerating the progress of Elyse Energy's advanced projects in France and Spain, with plans for industrial commissioning by 2027 and 2028.

Through its diversified portfolio of ongoing projects, Elyse Energy is set to deploy nearly 2.5 gigawatts of installed capacity, generating over one million tonnes of e-methanol and 2,00,000 tonnes of sustainable aviation fuels annually. These "e-fuels" play a crucial role in the decarbonisation of aviation, maritime transport, and various industrial processes, particularly in sectors like chemicals.

For instance, Elyse Energy's eM-Rhône project, supported by the European Innovation Fund, is aiming to produce 1,50,000 tonnes of green e-methanol annually, primarily for the maritime and industrial sectors.

Another advanced project, the BioTJet project located in Pyrénées Atlantiques, France, and visited by President Emmanuel Macron in June, targets annual production of 75,000 tonnes of e-biokerosene and 3,000 tonnes of naphtha.

Pascal Pénicaud, President of Elyse Energy, emphasised the unique opportunity presented by e-fuels, highlighting their potential to drive decarbonisation, enhance energy independence, and stimulate industrial growth in France and Europe.

He underscored the crucial role of private capital mobilisation in advancing this emerging sector, praising Hy24 and Mirova as pioneering investors in the field. Pénicaud expressed gratitude for the financial support, emphasising its significance in Elyse Energy's quest to establish a vital industry for a successful energy transition.

Pierre-Etienne Franc, CEO and co-founder of Hy24, stressed the indispensability of sustainable fuels for decarbonising the maritime and aviation sectors.

He emphasised the essential role of renewable and low-carbon hydrogen in this endeavour. Hy24, having partnered with Mirova once again, aims to contribute to the growth of sustainable fuels and the broader energy transition by supporting Elyse Energy. Together, they share the vision of fostering promising entrepreneurs and positioning France as a key player in low-carbon fuel production in Europe.

Anne-Laure Messier, Investment Director at Mirova, expressed pride in supporting Elyse Energy's growth. She noted that Elyse Energy's ambitions align with Mirova's investment strategy in energy transition infrastructure.

The strategy is dedicated to supporting developers in their efforts to deploy clean energy solutions and innovate for the decarbonisation of the transport sector. Mirova views the e-fuels market addressed by Elyse Energy as highly promising and impactful.

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Source: Hy24

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