The European Investment Bank (EIB) has announced that it is providing EUR 40 million in venture debt financing to Meva Energy AB (Meva), a Swedish cleantech company pioneering modular gasification plants that convert biomass residues into climate-neutral, industrial-grade biosyngas. This innovative fuel can directly replace fossil gas in a range of industries, supporting Europe’s transition to cleaner energy and greater energy independence.
According to a statement, the EIB’s investment will help Meva scale up beyond its current demonstration plant in Kisa, Sweden, enabling the company to enhance its technology and enter new markets.
Aligned with EIB strategic priorities
The project is backed by the European Commission’s InvestEU program, and aligns with three of the Bank’s strategic priorities: enhancing climate action, accelerating new technologies, and supporting the bioeconomy.
By developing low-value feedstock solutions and improving conversion efficiency, Meva’s technology advances biosyngas as a cost-effective alternative to fossil gas, supporting industrial decarbonisation in sectors such as pulp and paper, wood processing, and metals by enabling fossil fuel substitution.
Meva’s plants turn biomass residues – many of them otherwise unused – into energy and biochar, encouraging sustainable forest management and delivering benefits for agriculture, soil remediation, and permanent carbon storage, thereby supporting a local bioeconomy.
Meva’s technology offers a compelling pathway for industries to decarbonise without compromising on quality or cost. 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, said Karl Nehammer, EIB VP and responsible for energy.
Decentralised, modular, and versatile
Meva’s decentralised plants convert a wide range of biomass—including agricultural residues, wood pellets, and industrial wood waste—into biosyngas.
While less refined than biomethane – aka renewable natural gas (RNG) – the company’s biosyngas is a highly promising renewable fuel that 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 plants to be tailored to client needs and installed directly on industrial sites, reducing transport costs and boosting energy security.
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, said Niclas Davidsson, CEO of Meva Energy.
Support upgrades and additional projects
The EIB loan will support upgrades to Meva’s first-of-a-kind plant with tissue-producer Sofidel in Kisa, Sweden, the construction of a gasification unit for Ikea in Poland, and the world’s first fossil-free copper smelting for Elcowire Group in Helsingborg, Sweden.
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. Europe faces a pressing need to enhance energy security, preserve competitiveness, and advance long-term sustainability. The EIB’s engagement will play a key role in enabling Meva Energy to help address these challenges and to support the transition towards a more resilient and sustainable energy system, Niclas Davidsson said.
This investment contributes to the 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.
