WFW Counsel French Banks in €70 Million Financing for Elyse Energy‘s Sustainable Fuel Ventures
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Paris, France – 2024/11/24 14:02 CET – Watson Farley & Williams (WFW) has advised a group of leading French banks – including société Générale, Bpifrance, Arkéa banque Entreprises et Institutionnels, and Caisse d’Epargne CEPAC - in providing €70 million in financing to Elyse Energy. This substantial investment will fuel the progress of two cutting-edge projects focused on sustainable fuel production, marking a meaningful step towards decarbonizing the transportation sector.
The financing will support Elyse Energy’s eM-Rhône project, located on the Roches-Roussillon chemical platform in the Isère department, dedicated to producing e-methanol for the maritime industry. Simultaneously,it will advance the BioTJet initiative in the Lacq basin,Pyrénées-atlantiques,which aims to produce sustainable aviation fuels in collaboration with Axens,IFP Energies Nouvelles,and the Avril group. The deal is underpinned by a Guarantee of Strategic Projects (GPS) from Bpifrance Assurance Export, acting on behalf of the French state.
Key Project Details
| Project | Location | Fuel Type | Sector |
|---|---|---|---|
| eM-Rhône | Roches-roussillon, Isère | e-Methanol | Maritime |
| biotjet | Lacq basin, Pyrénées-Atlantiques | sustainable Aviation Fuel | Aviation |
Founded in 2020, Elyse Energy specializes in the design, development, financing, construction, and operation of sustainable fuel production facilities. These facilities utilize renewable and nuclear electricity alongside recycled carbon sources from industry or biomass, offering a pathway to reduce reliance on fossil fuels. This financing marks a decisive step in the acceleration of elyse Energy’s infrastructure development for the production and distribution of e-methanol and sustainable aviation fuels in Europe,
stated Laurence Martinez-Bellet, Finance Partner at WFW.
Did You Know?
The French government’s Guarantee of Strategic projects (GPS) demonstrates a strong commitment to supporting innovative and environmentally responsible industrial initiatives.
The WFW Paris team advising the lenders was spearheaded by Finance Partner Laurence Martinez-Bellet, with support from Senior Associate Julie Michelangeli and Associates simon Allain and Olivier Charron. Regulatory and Public Law Partner Laurent Battoue, alongside Counsel Antoine Bois Minot and Associates Amandine Collard, Léo Van Den Bussche, Catherine Masquelet, and Marie Jannet, provided crucial due diligence and project advice. Corporate expertise was delivered by Partner Thomas Rabain and Associate Lucile Mazoué.
Pro Tip:
Sustainable aviation fuel (SAF) is a key component in reducing the carbon footprint of air travel, and projects like BioTJet are vital for achieving net-zero emissions goals.
Martinez-Bellet further emphasized the firm’s position, stating that these projects are a perfect fit for WFW’s expertise in energy, infrastructure and transport and reinforce the firm’s role as a key partner in innovative projects and the construction of a competitive French industry.
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What impact will these projects have on France’s energy independence? And how will this financing influence similar sustainable fuel initiatives across Europe?
Background: The Rise of Sustainable Fuels
the demand for sustainable fuels is rapidly increasing globally, driven by stricter environmental regulations and a growing awareness of climate change. Sustainable aviation fuel (SAF) and e-fuels, produced using renewable energy sources, offer a viable choice to customary fossil fuels, substantially reducing greenhouse gas emissions. France has positioned itself as a leader in the energy transition,actively promoting investments in green technologies and infrastructure. The European Union’s Sustainable Alternative Fuels initiative aims to accelerate the deployment of SAF and other renewable fuels across the continent. (Source: European Commission)
Frequently Asked questions about Elyse Energy Financing
- What is elyse Energy? Elyse Energy is a company founded in 2020 that designs, develops, finances, builds, and operates sustainable fuel production units.
- What is e-methanol? E-methanol is a synthetic fuel produced from renewable electricity and captured carbon dioxide, offering a cleaner alternative to traditional methanol.
- What is sustainable aviation fuel (SAF)? SAF is a jet fuel derived from renewable sources, such as biomass or waste products, designed to reduce the carbon footprint of air travel.
- What is the role of Bpifrance in this financing? Bpifrance Assurance Export provides a Guarantee of Strategic Projects (GPS) on behalf of the French State, mitigating risk for the lenders.
- Why are these projects considered strategic? These projects contribute to France’s energy independence, decarbonization goals, and the development of a competitive green industry.
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