European Investment Bank Invests €40 Million in Swedish Cleantech Company to Support Transition to Renewable Energy Across Europe
The European Investment Bank (EIB) has announced a €40 million investment in Meva Energy AB, a Swedish cleantech company that specializes in modular gasification plants that convert biomass residues into climate-neutral biogas. The EIB’s investment will help Meva scale up its operations and enter new markets, supporting Europe’s transition to cleaner energy and greater energy independence.
Meva’s technology offers a practical solution for industries looking to decarbonize without compromising on quality or cost. By converting local biomass residues into renewable energy, Meva’s solutions provide a sustainable alternative to fossil gas and support EU climate and energy security goals. The company’s by-product, biochar, also acts as a carbon removal solution, storing carbon in soil and contributing to negative emissions.
The EIB’s investment 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. “Meva’s technology offers a compelling pathway for industries to decarbonize 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.”
Meva’s decentralised plants convert a wide range of biomass—including agricultural residues, pellets, and industrial wood waste—into biogas. This highly promising renewable fuel 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. “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.”
The EIB loan will support upgrades to Meva’s first of a kind plant with tissue-producer Sofidel in Sweden, the construction of a gasification unit for Ikea in Poland, and the world’s first fossil-free copper smelting for Elcowire Group in Sweden. 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.
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances 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 program 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 mobilize 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 program 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 mobilize 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.
The EIB’s investment in Meva Energy marks an important step towards a more sustainable and resilient energy
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.