Watson Farley & Williams (“WFW”) advised Elyse Energy, a French industrial SME pioneer in the production of sustainable fuels and low-carbon raw materials, on the due diligence and project aspects of a €120m fundraising granted to them by Hy24, PGGM, Bpifrance and Mirova.
This strategic financing allows Elyse Energy to accelerate the development of its sustainable e-methanol and aviation fuel production projects in France and Spain to meet the growing decarbonisation needs of the aviation, maritime and chemical sectors. Recognised as among the most advanced in the world, Elyse Energy’s projects meet French and European decarbonisation and green reindustrialisation objectives as set out in the European Green Deal and its sectoral variants, including the ReFuelEU Aviation and FuelEU Maritime regulations.
Elyse Energy benefits from renewed support of its historical partners Hy24, the world’s leading private asset manager focussed on the hydrogen economy and Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investment. Two new investors have joined this fundraising: major Dutch pension fund manager PGGM, under the “Climate and Energy Transition Solutions” mandate provided by its client Pensioenfonds Zorg en Welzijn (PFZW), andFrench public investment bank Bpifrance, a major player in the reindustrialisation and energy transition.
Founded in 2020, Elyse Energy designs, develops, finances, builds and operates sustainable fuel production units from renewable and nuclear electricity and recycled carbon in industry or biomass. With over 80 employees, Elyse Energy has developed a portfolio of low-carbon molecule production projects in France, Spain and Portugal.
The WFW Paris team that advised Elyse Energy was led by Regulatory and Public Law Partner Laurent Battoue, supported by Counsel Antoine Bois Minot, and Associates Amandine Collard and Catherine Masquelet. Corporate expertise was provided by Partner Thomas Rabain, Associates Lucile Mazoué and Chloé Léonard, with Partner Karine Audouze and Senior Associate Amandine Racé advising on employment law matters.
Laurent commented: “We are proud to have supported Elyse Energy on this fundraising which is an important step forward for it and for the development of the European e-fuel sector with projects meeting the decarbonisation ambitions of the aviation and maritime sectors. The deployment of infrastructure for the production and distribution of e-methanol and sustainable aviation fuels is essential for more sustainable transport and fully in line with WFW’s commitment to the energy, infrastructure, transport sectors and, from a general standpoint, the energy transition”.
