Avril, Axens, Bionext and IFPI take a stake in BioTJet alongside Elyse Energy

Avril, Axens, Bionext and IFPI take a stake in BioTJet alongside Elyse Energy

 

Lyon, 19 January 2023 – At the end of December 2022, Elyse Energy, an industrial SME pioneering low-carbon molecules, and its partners signed an agreement for the incorporation of the BioTJet project company, to support carbon intensity reduction in aviation. Its financial structure has been finalised, with Elyse Energy, Avril, Axens, Bionext and IFP Investissements (IFPI) as shareholders.

A PARTNERSHIP-BASED FINANCIAL STRUCTURE

 

In July 2022, Elyse Energy, European experts in low-carbon fuels, announced the launch of the BioTJet project to produce sustainable aviation fuels, in partnership with Avril, Axens, Bionext and IFP Investissements (IFPI). The BioTJet project company, created on this occasion, leverages the BioTfueL® process developed and approved as part of the eponymous project led from 2010 to 2021.

At the end of December 2022, the project partners agreed on the financial structure of BioTJet. Five shareholders confirmed their participation in the Board of directors: Elyse Energy, Avril, Axens, Bionext and IFP Investissements (investment subsidiary of IFP Energies Nouvelles),

 

At the end of this transaction, Elyse Energy will hold more than two-thirds of the capital, the main partners Avril, Axens and IFPI sharing the balance evenly.

 

In addition to its private financing, the BioTJet project received support from ADEME as part of the 4th Programme d’Investissements d’Avenir – France 2030 (Investing in the Future programme) via the Call for Projects for the “Development of a French sustainable aviation fuel production industry”. ADEME provides funding for the initial study phase in the form of €4.9 million in subsidies and €3 million in repayable advances.

“We are pleased and proud to have reached an agreement between the various partners of the BioTJet project. This legal and financial decision is an important step in the successful completion of this major industrial project, consistent with the French roadmap for the deployment of sustainable aviation biofuels, the national low-carbon strategy, and EU regulatory announcements. We are looking forward to moving on to the next steps with our trusted partners: Avril, Axens, Bionext and IFPI”, explains Pascal Pénicaud, co-founder and President of Elyse Energy. 

“The IFP Energies Nouvelles Group is delighted to contribute to the industrialisation of the BioTfueL® technology in which we believe and in the development of which we have been actively involved for more than 10 years. We are making every effort to support Elyse Energy in this large-scale project that responds to the national low-carbon strategy and enshrines the IFP Energies Nouvelles Group’s ambition to position itself as a leader in advanced biofuels and carbon intensity reduction”, points out Nathalie Alazard-Toux, Director of IFPEN’s Industrial Development Results Centre. 

“I envision our participation in the BioTJet project as a long-term commitment to our partners. This investment in a large-scale French industrial project demonstrates Axens’ deep-rooted commitment to the industrial development of technologies essential to the energy transition”, explains Jean Sentenac, CEO of Axens. 

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