At The Business Booster (TBB), InnoEnergy’s flagship annual event taking place in Lisbon this year, the European Investment Bank (EIB) announced a €40 million venture debt financing for Meva Energy, a Swedish clean tech pioneer and one of InnoEnergy’s active portfolio companies. The financing will help Meva roll out and enhance its modular, climate-neutral biogas plants across Europe, supporting EU goals for clean industry, energy security, and the bioeconomy.
The collaboration between Meva Energy and the EIB was first sparked two years ago at The Business Booster, where the two organisations met through introductions facilitated by InnoEnergy. The new agreement represents a powerful example of the impact created by the TBB ecosystem: connecting innovators, investors, and industry to accelerate the industrialisation of clean technologies across Europe.
Scaling circular, carbon-negative energy solutions
Meva Energy’s technology converts biomass residues – including agricultural by-products and industrial wood waste – into renewable, industrial-grade biogas. This decentralised solution enables manufacturers to replace fossil gas with on-site, carbon-neutral energy, while producing biochar, a by-product that stores carbon in soil and supports negative emissions.
The EIB financing, backed by the European Commission’s InvestEU programme, will support Meva’s commercial scale-up and expansion into new markets. This includes upgrades to its first-of-a-kind biogas plant with Sofidel in Sweden, new facilities for IKEA in Poland, and the world’s first fossil-free copper smelting plant for Elcowire Group in Sweden.
Driving Europe’s clean industrial transformation
By advancing scalable, site-specific biogas production, Meva Energy directly contributes to the objectives of RePowerEU, and the Clean Industrial Deal, strengthening Europe’s energy independence and industrial competitiveness.
“Meva’s technology offers a compelling pathway for industries to decarbonise without compromising on quality or cost,” said Karl Nehammer, EIB Vice-President responsible for energy. “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.”
“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. “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.”
