Elyse Energy, Hy24 and Mirova pen e-fuels financing deal

E-fuels company Elyse Energy, Hy24, managing a clean hydrogen infrastructure fund, and Mirova, an affiliate of Natixis Investment Managers, have signed a financing deal to support the development of Elyse Energy’s e-methanol and sustainable aviation fuels (SAF) projects in France and Spain.

Specifically, Hy24 and Mirova are both investing to accelerate the development of Elyse Energy’s most advanced projects in France and Spain, with industrial commissioning scheduled for 2027 and 2028.

To note, Elyse Energy is expected to deploy nearly 2.5 GW of installed capacity producing more than one million tons of e-methanol and 200,000 tons of sustainable aviation fuels annually. These e-fuels are said to be essential for the decarbonization of aviation and maritime transport, as well as industrial processes in sectors such as chemicals.

As an example, the parties involved said that Elyse’s eM-Rhone project, awarded by the European Innovation Fund, is targeting the production of 150,000 tons of green e-methanol annually for the maritime sector and industry.

President of Elyse Energy Pascal Pénicaud commented: “E-fuels represent a unique opportunity to combine decarbonization, energy sovereignty and reindustrialization in France and Europe. As with gas and renewable electricity, the mobilization of private capital will be crucial in financing the creation of this new sector. Hy24 and Mirova are pioneer investors in this sector, and with this financing, Elyse is strengthened in its efforts to build a new industry that is essential in order to succeed in the energy transition.”

CEO and Co-Founder of Hy24 Pierre-Etienne Franc stated: “Sustainable fuels are essential for the decarbonization of the maritime and aviation sectors, and their deployment cannot be achieved without renewable and low carbon hydrogen… Hy24 has partnered with Mirova for the second time to support the development of sustainable fuels through this financing of Elyse Energy. Together we share the ambition to support the most promising entrepreneurs, helping ensure France can become a major platform for the production of low-carbon fuels in Europe.”

Investment Director at Mirova Anne-Laure Messier said: “Mirova is very proud to support Elyse Energy in this new phase of its growth. Its 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 decarbonize the transport sector. The e-fuels market addressed by Elyse Energy seems particularly promising to us.”