Sweden’s Meva Energy has secured €40M to expand its biomass gasification technology and support new industrial projects in Europe.
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Gothenburg-based Meva Energy has received €40M in venture debt financing from the European Investment Bank (EIB).
The funding will support Meva’s work on modular gasification plants that convert biomass residues into industrial-grade biogas.
The biogas produced by Meva’s plants can replace fossil gas in industrial processes. The technology enables manufacturing facilities to generate energy on-site from locally available biomass residues.
The project is supported by the European Commission’s InvestEU programme and aligns with the EIB’s goals in climate action, technology development, and the bioeconomy.
Karl Nehammer, EIB Vice-President responsible for energy, says, “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.”
The EIB loan will fund upgrades to Meva Energy’s plant with tissue-producer Sofidel in Sweden, the construction of a gasification unit for Ikea in Poland, and a fossil-free copper smelting project for Elcowire Group in Sweden.
The investment supports EU initiatives such as RePowerEU, the Net-Zero Industry Act, and the Clean Industrial Deal, advancing energy security and industrial decarbonisation in Europe.
Converting residues to renewable energy
Meva, founded in 2008 as a spin-off from the Energitekniskt Centrum and Luleå University of Technology, develops modular gasification plants that convert local biomass into biogas for industrial energy use.
The company’s decentralised systems process agricultural residues, pellets, and industrial wood waste into biogas. The fuel can be used for heat and power generation or as a replacement for natural gas in industrial operations.
Meva’s process applies high-temperature gasification in an oxygen-limited environment to produce a clean gas suitable for various energy applications. The modular approach allows plants to be installed directly at industrial sites and adapted to different production needs, reducing reliance on external energy supply and supporting the use of local biomass resources.
Capital utilisation
Meva will use the funds to expand its production capacity and strengthen its technology platform. The funding will allow the company to move from its current demonstration facility in Kisa, Sweden, toward broader commercial deployment and entry into new markets.
Part of the investment will support further development of Meva’s gasification process, which converts biomass residues into biogas and biochar. The company plans to improve system efficiency, broaden the range of usable biomass feedstocks, and improve conversion efficiency.
The project will also advance Meva’s role in industrial decarbonisation by replacing fossil gas in sectors such as pulp and paper, wood processing, and metals. Biochar (by-product) produced in the process will be used for carbon storage in soil.
In addition, the funding will help expand Meva’s contribution to the bioeconomy by creating energy and carbon-based products from unused biomass residues. This approach supports sustainable forest management, soil recovery, and long-term carbon capture.
Niclas Davidsson, CEO of Meva Energy, says, “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. 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,” adds Davidsson.
Brief about the EIB Group and InvestEU
The EIB is the lending arm of the European Union, owned by its Member States. It finances projects that advance EU policy goals in areas such as climate action, innovation, and sustainable growth. In 2024, the EIB Group provided nearly €89B in financing for more than 900 projects aligned with the Paris Climate Agreement.
The InvestEU programme supports long-term investment in the EU by combining public and private funding to drive sustainable growth. It focuses on priorities, including the European Green Deal and the digital transition. Through its Fund, Advisory Hub, and Portal, InvestEU uses an EU budget guarantee of €26.2B to mobilise at least €372B in additional investment across Europe.
