Industry News

Hy24 and Mirova invest in Elyse Energy SAF production projects

by | Sep 22, 2023

Elyse Energy, a company who has been focused on their partnerships with KHIMOD and AVEBIO created in April of 2023, has now entered an investing opportunity with Hy24 and Mirova.

Elyse’s partnership with KHIMDO focused on the production of SAFs and the partnership with AVEBIO was created to demonstrate the production of sustainable e-fuels for use in air transport. Now Elyse Energy has entered a financing transaction with Hy24 and Mirova which has been created in order to support the development of low carbon sustainable aviation fuel (SAF) projects located in France and Spain.

Hy24 manages a clean hydrogen infrastructure fund, which is considered to be one of the ‘world’s largest’. Mirova works with Natixis Investment Managers who focus on sustainable finance. Both of these companies have decided to invest in Elyse Energy’s projects with the shared aim to accelerate their development.

Elyse Energy has a large number of projects underway and will distribute almost 2.5 GW of installed capacity. This has the ability to generate more than 1 million tons of e-methanol and 200,000 tons of SAFs per year. The company is expecting industrial commissioning in 2027 and 2028. The e-fuels which are created are intended to support the decarbonisation of the transport sector, specifically the aviation and maritime sectors of transport. The e-fuels will also be able to benefit the chemical industry. Aligning with this, Elyse Energy is currently developing the eM-Rhone project and is working towards producing 150,000 tons of green e-methanol every year. This e-methanol will be suitable for the maritime industry.

The ambition and success of Elyse Energy’s projects makes it clear why Hy24 and Mirova have chosen to invest in the company. The CEO and Co-Founder of Hy24, Pierre-Etienne Franc explained the interest in the investment further, “Hy24 is the partner to some of the most advanced hydrogen project developers in France and globally, and is helping to build this ecosystem alongside other players committed to the energy transition. 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.”

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