- DNV conducted technical due diligence for Elyse Energy, enabling the company to secure €120 million in investments from major partners, including Hy24, PGGM, Bpifrance, and Mirova.
- The funding supports projects in France and Spain that produce sustainable aviation fuel and e-methanol, aligning with European decarbonization goals.
- These projects aim to reduce CO2 emissions by 700,000 tons annually by replacing fossil fuels with low-carbon alternatives.
- The first project is slated for commissioning in 2028, contributing to France’s and Europe’s green reindustrialization efforts.
According to DNV, it has successfully conducted comprehensive technical due diligence to support Elyse Energy, an independent French company specializing in low-carbon molecule production, securing €120 million in investments from Hy24, PGGM, Bpifrance, and Mirova. The funds will accelerate Elyse Energy’s sustainable fuel and low-carbon feedstock production initiatives in France and Spain, targeting e-methanol and sustainable aviation fuel. These projects align with European decarbonization and green reindustrialization objectives, including compliance with ReFuelEU Aviation and FuelEU Maritime regulations. They are projected to cut annual CO2 emissions by 700,000 tons by replacing fossil fuels with low-carbon alternatives. The first project is set to launch in 2028.
Comprehensive Technical Review by DNV
DNV provided an independent assessment of Elyse Energy’s four most advanced projects, evaluating critical elements such as governance, project maturity, permitting, design, technology, power sourcing, offtake strategies, schedules, and financial modeling. With the complexity of these initiatives, DNV’s technical team conducted a detailed analysis of design, technology, and projected performance to ensure their feasibility and readiness for development.
Low-Carbon Hydrogen and the Energy Transition
DNV’s 2024 Energy Transition Outlook underscores the significance of low-carbon hydrogen and its derivatives in driving the shift from fossil fuels to sustainable energy solutions. These technologies are key to decarbonizing hard-to-abate sectors, including aviation and maritime shipping. By 2030, Western Europe is expected to produce 10 million tons of low-carbon hydrogen annually, with hydrogen derivatives projected to meet 4% of global energy demand by 2050. Expanding hydrogen capacity is critical for building sustainable energy supply chains.
Industry Insights
Santiago Blanco, Executive Vice President and Regional Manager for Energy Systems at DNV, emphasized the organization’s commitment to supporting low-carbon solutions, highlighting the importance of technical due diligence in ensuring project success. Margot Le Guen, Investment and Financing Director at Elyse Energy, noted that comprehensive technical analysis is vital for securing investment in complex sustainable fuel projects.
DNV’s Growing Presence in France
Nicolas Boruchowicz, Market Area Manager for France at DNV, highlighted the company’s increasing involvement in France’s energy sector. With a move to larger headquarters in Paris and ongoing recruitment of local experts, DNV is positioned to directly support the country’s hydrogen and sustainable fuel ecosystems. This expansion demonstrates DNV’s dedication to helping France achieve its ambitious decarbonization goals.
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Source: dnv
