The European Investment Bank (EIB) has announced a €40 million investment in Meva Energy AB, a Swedish cleantech company that specializes in modular gasification plants. This financing will support Meva in its mission to roll out and enhance climate-neutral biogas plants across Europe, providing a practical, on-site alternative to fossil gas.
The project aligns with the EU’s climate and energy security goals and promotes next-generation bioeconomy technologies. Meva Energy’s solutions convert local biomass residues into renewable energy, offering manufacturing industries a sustainable alternative to fossil fuels.
The venture debt financing from the EIB will enable Meva to scale up its operations beyond its current demonstration plant in Kisa, Sweden, and enter new markets. This project is backed by the European Commission’s InvestEU program and aligns with the EIB’s strategic priorities, including enhancing climate action, accelerating new technologies, and supporting the bioeconomy.
According to Karl Nehammer, EIB Vice-President responsible for energy, “Meva’s technology offers a compelling pathway for industries to decarbonize without compromising on quality or cost.” He added, “By investing in scalable, site-specific clean gas solutions, we’re helping accelerate the shift away from fossil fuels—supporting climate goals, energy security, and industrial resilience across Europe.”
Meva’s modular plants utilize a wide range of biomass, including agricultural residues, pellets, and industrial wood waste, to produce biogas. This renewable fuel can be used directly for heat and power or as a substitute for natural gas in industrial processes. The technology uses high-temperature gasification in an oxygen-limited environment to produce a clean, versatile gas. The modular design allows for tailored plants that can be installed directly on industrial sites, reducing transport costs and improving energy security.
Niclas Davidsson, CEO of Meva Energy, stated, “We welcome the support from the European Investment Bank and the recognition it represents for Meva’s biomass gasification technology as a contributor to the decarbonisation of industrial energy use.” He added, “This partnership with the EIB marks an important milestone in Meva’s development. It strengthens our capacity to scale up operations and to bring our circular, carbon-negative solutions to a broader range of manufacturing industries.”
The EIB’s investment will support upgrades to Meva’s first plant with tissue-producer Sofidel in Sweden, the construction of a gasification unit for Ikea in Poland, and the world’s first fossil-free copper smelting for Elcowire Group in Sweden. This investment contributes to the EU’s objectives of RePowerEU, the Net-Zero Industry Act, and the Clean Industrial Deal, reinforcing Europe’s energy security and industrial leadership in the green transition.
About the European Investment Bank Group:
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments that contribute to EU policy objectives, including climate action, innovation, and sustainable growth. In 2024, the EIB Group signed nearly €89 billion in new financing for over 900 high-impact projects, supporting Europe’s competitiveness and security. All projects financed by the EIB Group are in line with the Paris Climate Agreement.
About InvestEU:
The InvestEU program provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilize private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient, and more flexible. The program consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal.
About Meva Energy:
Founded in 2008 as a spin-off from the Energitekniskt Centrum and Luleå University of Technology, Meva Energy is based in Gothenburg, Sweden. Its modular gasification plants to produce biogas from local biomass enable industries to reduce emissions, lower energy costs, and improve energy security, while supporting sustainable forest management and the bioeconomy.
Images:
Link: https://we.tl/t-rwdIKs6ENM
On the pictures from the signing:
Elina Roine, Deputy Director General of the Operations Directorate, EIB
Niclas Davidsson, CEO, Meva Energy
Elena Bou, Executive Board Member and Innovation Director at InnoEnergy
