Meva Energy, an InnoEnergy portfolio company, has secured €40 million in venture debt financing from the European Investment Bank (EIB). The Swedish company will use the new capital to launch and expand its network of modular, zero-emission biomass gasification installations. One of the priority initiatives is the construction of a biomass gasification facility for IKEA in Poland.
The project supports key EU objectives in climate protection and energy security, while fostering the development of next-generation technologies for the bioeconomy.
The EIB confirmed that the €40 million will go to Meva Energy AB — a Swedish cleantech pioneer that has developed modular systems converting wood waste and other residual biomass into industrial-grade biogas with a net-zero CO₂ footprint.
Thanks to the EIB’s support, Meva will scale beyond Sweden, ramp up manufacturing and expand into new European markets — including Poland. The funding will be used, among other projects, to build the Meva Energy installation for IKEA’s factory in Zbąszynek. It will also finance upgrades to the company’s pilot plant in Kisa (Sweden), expansion of a facility for Sofidel in Sweden, and the world’s first fossil fuel-free copper melting process for Elcowire Group.
InnoEnergy — a key enabler of the European Union’s energy transition — has been instrumental in Meva Energy’s growth.
“Meva Energy is a uniquely positioned European technology company that has developed an efficient solution to produce green gas from biomass. This gas is ideal for high-temperature industrial processes and offers full emissions neutrality. Meva’s installations can operate entirely off-grid, allowing industrial plants to free themselves from grid constraints and distribution costs. In practice, this gives customers a double benefit — lower energy costs and access to zero-emission heat and power,” said Mikołaj Budzanowski, CEO of InnoEnergy CE.
“Given Poland’s vast, underutilised biomass potential, we see major opportunity to deploy many such installations here.”
Financing Strategic EU Priorities
The investment is backed by the InvestEU programme and supports three key European Union objectives:
- Climate action — Meva’s technology enables industrial decarbonisation (e.g. in paper, wood and metal sectors) by replacing fossil gas with renewable biogas. The process produces biochar as a by-product, which sequesters carbon in soil and contributes to negative emissions.
- Support for new technologies — driving the development of biogas as a cost-competitive alternative to natural gas while improving biomass conversion efficiency.
- Bioeconomy growth — using local, often unused biomass residues to produce energy and biochar supports sustainable forestry, agriculture and long-term carbon storage.
“Meva Energy’s technology offers industry a real pathway to decarbonise without compromising quality or competitiveness,” said Karl Nehammer, EIB Vice President responsible for energy. “By investing in scalable, local clean gas solutions, we are advancing EU climate goals, energy security and the resilience of European industry.”
Accelerating Deployment
Meva Energy’s systems use high-temperature gasification in an oxygen-reduced environment to convert wood industry, agriculture and biomass production waste into clean energy gas. The modular architecture allows installations to be located directly at industrial sites — reducing transport costs and enhancing energy independence. The company provides a practical, local alternative to fossil gas — turning biomass waste into renewable energy directly on-site.
“EIB support is a critical step in scaling our biomass gasification technology,” said Niclas Davidsson, CEO of Meva Energy. “This partnership enables us to accelerate deployment of our circular, carbon-negative solutions across additional industrial sectors throughout Europe.”
