The funds will support Elyse Energy’s sustainable fuel and low-carbon feedstock production projects in France and Spain, with a focus on e-methanol and sustainable aviation fuel. The initiatives are aimed at meeting the increasing demand for decarbonisation solutions in the aviation, maritime, and chemical industries, in alignment with French and European decarbonisation and green reindustrialisation objectives, including compliance with ReFuelEU Aviation and FuelEU Maritime regulations.
Collectively, the initiatives are expected to reduce CO2 emissions by approximately 700,000 tons annually by replacing fossil fuels with low-carbon alternatives. The first project is expected to be commissioned in 2028.
DNV provided an independent technical review of Elyse Energy’s four most advanced projects, assessing multiple critical aspects, including the organisation’s structure, governance, project maturity, permit status, design, technology, power sourcing, offtake strategy, project schedules, and technical input to the financial model.
Due to the complex nature of these projects, DNV’s team performed a detailed evaluation of project design, technology, and forecasted performance.
The company’s 2024 Energy Transition Outlook highlights low-carbon hydrogen and its derivatives as an enabler of the energy transition, driving the shift away from fossil fuels and supporting the decarbonization of hard-to-abate sectors like maritime shipping and aviation. By 2030, Western Europe is expected to produce 10 million tons of low-carbon hydrogen annually. Looking further ahead, DNV projects that hydrogen and its derivatives will account for 4 percent of the final energy demand by 2050.
This growth in hydrogen capacity will be crucial for establishing new energy supply and value chains.
“Our technical due diligence for Elyse Energy underscores DNV’s continued commitment to supporting projects that drive low-carbon solutions” said Santiago Blanco, Executive Vice President and Regional Manager Southern Europe, Middle East, Latin America and Africa, Energy Systems at DNV. “With our deep expertise in hydrogen and sustainable fuel technologies, we ensure projects are both viable and positioned for successful development.”
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