The European Investment Bank (EIB) is providing €40 million in venture debt financing to Meva Energy AB, a Swedish cleantech firm developing modular gasification plants that convert biomass residues into climate-neutral, industrial-grade biogas. The technology offers a direct replacement for fossil gas across multiple industries, supporting Europe’s clean energy transition and energy independence.
The funding will help Meva expand beyond its demonstration plant in Kisa, Sweden, enhancing its technology and enabling entry into new markets. The project is supported by the European Commission’s InvestEU programme and aligns with the EIB’s strategic priorities:
Climate action: Meva’s technology aids industrial decarbonisation in sectors such as pulp and paper, wood processing, and metals, while its biochar by-product stores carbon in soil, contributing to negative emissions.
Accelerating new technologies: By developing low-value feedstock solutions and improving conversion efficiency, Meva advances biogas as a cost-effective alternative to fossil gas.
Supporting the bioeconomy: The company’s plants transform otherwise unused biomass into energy and biochar, promoting sustainable forest management and benefiting agriculture, soil remediation, and permanent carbon storage.
“Meva’s technology provides industries with a pathway to decarbonise without compromising quality or cost,” said Karl Nehammer, EIB Vice-President responsible for energy. “Investing in scalable, site-specific clean gas solutions helps accelerate the shift from fossil fuels, supporting climate goals, energy security, and industrial resilience across Europe.”
Meva’s decentralised plants convert various biomass sources—including agricultural residues, pellets, and industrial wood waste—into biogas. Using high-temperature gasification in an oxygen-limited environment, the modular plants produce a clean, versatile fuel suitable for heat, power, or industrial processes. Their on-site installation reduces transport costs and enhances energy security.
“We welcome the support from the EIB, which recognizes Meva’s role in decarbonising industrial energy use,” said Niclas Davidsson, CEO of Meva Energy. “This partnership strengthens our capacity to scale operations and bring circular, carbon-negative solutions to more manufacturing industries. Europe must enhance energy security, maintain competitiveness, and promote long-term sustainability—EIB’s engagement helps us meet these goals.”
The loan will support upgrades to Meva’s first-of-its-kind plant with Sofidel in Sweden, a new gasification unit for Ikea in Poland, and the world’s first fossil-free copper smelting facility for Elcowire Group in Sweden.
This investment advances 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
