EIB Backs Swedish Cleantech Firm Meva Energy in €40 Million Deal to Boost Renewable Industrial Energy Solutions

EIB Backs Swedish Cleantech Firm Meva Energy in €40 Million Deal to Boost Renewable Industrial Energy Solutions

(IN BRIEF) The European Investment Bank (EIB) is lending €40 million to Sweden’s Meva Energy AB to accelerate the rollout of its modular, biomass-based gasification plants across Europe. The company’s innovative system converts agricultural and industrial biomass residues into renewable, climate-neutral biogas, providing industries with a direct substitute for fossil gas. Supported by the EU’s InvestEU programme, the financing will fund upgrades to Meva’s Swedish demonstration plant, new projects with Sofidel and Ikea, and a fossil-free copper smelting facility with Elcowire Group. The investment aligns with EU initiatives such as RePowerEU and the Net-Zero Industry Act, advancing Europe’s clean energy transition and strengthening energy security through next-generation bioeconomy technologies.

(PRESS RELEASE) LUXEMBOURG, 23-Oct-2025 — /EuropaWire/ — The European Investment Bank (EIB) has granted €40 million in venture debt financing to Meva Energy AB, a Swedish clean technology company specializing in modular gasification plants that convert biomass residues into climate-neutral, industrial-grade biogas. The funding will enable Meva Energy to scale up its production capacity, refine its technology, and expand operations across Europe, offering manufacturing industries an on-site renewable alternative to fossil gas.

Supported by the European Commission’s InvestEU programme, the investment aligns with the EU’s climate action, energy security, and bioeconomy development priorities. Meva’s innovative process transforms local biomass waste—such as agricultural residues, industrial wood by-products, and pellets—into clean biogas that can directly substitute fossil gas for industrial heat and power applications. The company’s technology also generates biochar, which serves as a carbon sink, enabling negative emissions through carbon storage in soil.

“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.”

The modular nature of Meva’s system allows plants to be tailored to client needs and deployed directly on industrial sites, minimizing transportation costs and increasing local energy independence. This decentralized model ensures greater efficiency and flexibility for industries seeking to reduce emissions and control energy costs.

The EIB financing will help Meva enhance and replicate its existing demonstration plant in Kisa, Sweden, while supporting new projects including:

A biogas unit for Sofidel in Sweden to supply renewable energy to tissue production.

A gasification facility for Ikea in Poland to further its sustainability commitments.

A partnership with Elcowire Group in Sweden for the world’s first fossil-free copper smelting process.

“This partnership with the EIB marks a major milestone for Meva Energy,” said Niclas Davidsson, CEO of Meva Energy. “The investment strengthens our ability to scale our circular, carbon-negative technology and deliver practical, renewable gas solutions to a wider range of manufacturing sectors. Europe urgently needs energy security and sustainable growth, and our plants are designed to contribute directly to both.”

The investment reinforces Europe’s leadership in clean industrial technology and supports EU initiatives including RePowerEU, the Net-Zero Industry Act, and the Clean Industrial Deal, all aimed at achieving energy independence and accelerating the green transition.

Background information

About the European Investment Bank Group

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. We finance investments that contribute to EU policy objectives, including climate action, innovation, and sustainable growth. In 2024, the EIB Group signed nearly €89 billion in new financing for over 900 high-impact projects, supporting Europe’s competitiveness and security. All projects financed by the EIB Group are in line with the Paris Climate Agreement.

About InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

About Meva Energy

Founded in 2008 as a spin-off from the Energitekniskt Centrum and Luleå University of Technology, Meva Energy is based in Gothenburg, Sweden. Its modular gasification plants to produce biogas from local biomass enable industries to reduce emissions, lower energy costs, and improve energy security, while supporting sustainable forest management and the bioeconomy.

Media contact:
Antonie Kerwien
a.kerwien@eib.org
+352 4379 – 82175

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SOURCE: European Investment Bank