Elyse Energy has secured €120m ($126m) from Hy24, PGGM, Bpifrance and Mirova to support the development of hydrogen-based sustainable aviation fuel (SAF) and e-methanol production projects in France and Spain.

H2 View understands that the funding will enable the French company to advance the “most advanced” projects in its e-fuels portfolio to a final investment decision (FID).

When operational, Elyse has said its most advanced projects -BioTJet, eM-Rhône and eM-Numancia – could save 700,000 tonnes of CO2 equivalents per year and contribute to Europe’s security of supply and reindustrialisation.

The funding announcement comes over a year after Elyse entered a financing transaction with Hy24 and Mirova. Elyse previously said its portfolio will deploy nearly 2.5GW of installed capacity and produce more than one million tonnes of e-methanol and 200,000 tonnes of SAF annually.