AXA IM Alts, a global leader in alternative investments is investing EUR 9 million in Meva Energy. The investment substantially increases Meva Energy’s capacity and capability to help manufacturing industries convert their low value biomass waste residues to fossil-free energy by using a unique, cost-efficient gasification technology.
“We believe that an investment from one of the world’s largest asset managers who also shares our company’s vision for the future will be highly beneficial for Meva Energy and our customers’ journey towards net zero.” says Niclas Davidsson, CEO at Meva Energy.
AXA IM Alts’ investment will support the company’s growth, and its capacity to accelerate the decarbonization of the manufacturing industry in Europe, starting with the paper and engineered wood industry. The company’s circular approach, using waste biomass residues to generate clean energy, also ties in with AXA IM Alts’ wider goals of ecosystem protection and restoration, addressing drivers of deforestation and degradation.
As part of this investment, AXA IM Alts will also have a representative on the company’s board of directors to support the company in the execution of its strategy.
Commenting on the investment, Jonathan Dean, Head of Impact Private Equity Fund Management at AXA IM Alts, said: “In order to fulfil the international climate agenda, the industrial sector needs to undergo a seismic shift from a fossil fuel dependent energy system, to a renewable-centric one. In our view, Meva Energy provides an innovative climate mitigation solution for the industrial sector, helping to displace fossil fuel in industrial processes and providing a cleaner source of baseload power. The company closely aligns with our own impact objectives to increase resource efficiency and support initiatives around climate change mitigation, and we look forward to working with the business as it continues to build scale.”
“Closing this investment is an important milestone that gives us the economical strength to finance new energy plants and be able to continue an international expansion.” says Niclas Davidsson, CEO at Meva Energy.
Press contact: Meva Energy: Elsa Kayser, Marketing and Communications Officer, +46730987541, elsa.kayser@mevaenergy.com
About Meva Energy
Meva Energy is an innovative company that provides clean energy solutions to its customers in the manufacturing industry. Meva’s technology focus is thermochemical conversion of solid biomass residue. Meva Energy’s proprietary and award-winning technology is able to convert solid residue to renewable gas and it is the world’s only conversion technology having full acceptance of fine fraction feedstocks such as saw dust or fiber residue. Due to the stability and simplicity of the conversion process, the Meva Energy system is able to produce renewable gas at the same cost levels as fossil gas. Meva Energy is headquartered in Gothenburg, Sweden. Learn more at https://mevaenergy.com