DLA Piper advises Hy24 on strategic investment in Elyse Energy

Global law firm DLA Piper has advised Hy24, the world’s leading private hydrogen-focused asset manager, on the tax structuring of its new strategic investment in Elyse Energy, a pioneering French SME in the production of sustainable fuels and low-carbon raw materials. This significant investment, totaling nearly EUR120 million, was made alongside co-investors PGGM, Bpifrance, and Mirova.

The strategic financing from Hy24 (through its “Clean H2 Infra Fund”), PGGM, Bpifrance, and Mirova will enable Elyse Energy to accelerate the development of its e-methanol and sustainable aviation fuel (SAF) production projects in France and Spain. These projects aim to meet the growing decarbonization needs of the aviation, maritime, and chemical sectors.

Elyse Energy’s most advanced projects, BioTJet, eM-Rhône, and eM-Numancia, are expected to avoid nearly 700,000 tons of CO2 per year of emissions. With this funding and the support of its new partners, Elyse Energy will be able to advance these projects to the final investment decision stage, prior to the commencement of construction, while consolidating and expanding its project portfolio.

Tax structuring was led by Paris-based Fanny Combourieu (Country Managing Partner, France), with key contributions from Thomas Guillier (Counsel).