Four investors, including Dutch pension fund investor PGGM, have committed €120m to French low carbon fuel company Elyse Energy.
The investment, part of PGGM’s Climate and Energy Transition Solutions mandate, supports Elyse Energy advance its portfolio of low-carbon energy projects across France and Spain in sustainable aviation fuel (SAF) and e-methanol. PGGM invests on behalf of Pensioenfonds Zorg en Welzijn, which has approximately €240bn of asset under management.
This funding round, led by Hy24 through its Clean Hydrogen Infrastructure Fund, also attracted investments from Bpifrance, the French public investment bank, and Mirova, a sustainable investment affiliate of Natixis.
The €120m of funding will enable Elyse Energy to progress several projects, including BioTJet, eM-Rhône, and eM-Numancia, to final investment decisions, a prerequisite for launching construction. These projects aim to decarbonise the aviation and maritime sectors while contributing to Europe’s energy sovereignty and green industrialisation, according Hy24.
David Jerez Antoni, associate director at PGGM, stated: “E-methanol and SAF are becoming indispensable links in the transition to more sustainable transport and industry. To achieve this, a robust infrastructure must be developed for the production and distribution of these sustainable forms of energy.
“PGGM is investing in Elyse Energy because it proves to create value in this energy transition.
Pascal Pénicaud, president and co-founder of Elyse Energy, welcomed PGGM and Bpifrance as new investors alongside long-standing partners Hy24 and Mirova.
“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,” he said.
