Meva Energy secures €40m from EU to build biogas plants across Europe

Swedish climate tech Meva Energy has secured €40m loan from the European Investment Bank (EIB). The news was announced at InnoEnergy's Business Booster event in Lisbon today, which our sister site Energy Loop is attending.

The fresh capital, one of the continent's largest single investments in biogas to date, will fuel the rollout of Meva’s modular biogas plants across Europe.

Just Climate, Al Gore’s climate-focused investment vehicle, is Meva Energy's largest shareholder, following its €30m investment in 2023.

Paper waste to biogas

The Gothenburg-based company has developed compact facilities that convert biomass residues – like agricultural waste and wood chips – into renewable industrial biogas, offering a cleaner alternative to fossil natural gas. The systems can be installed directly on industrial sites, turning local waste into local energy.

“This agreement is a big milestone for us – something entirely new and incredibly exciting,” CEO Niclas Davidsson told Energy Loop.

"It strengthens our capacity to scale up operations and to bring our circular, carbon-negative solutions to a broader range of manufacturing industries," said Davidsson.

From pilot to pan-European scale

The funds will co-finance upcoming biogas projects across Europe – but existing plants will also benefit.

“It’s a great feeling to go to market and say we not only offer long-term contracts but also have financing secured from such a strong and credible partner as the EIB,” Davidsson said.

The deal caps a two-year process of due diligence and negotiation.

“EIB really did their homework. Since December, it’s been an intense period with numerous meetings and site visits in Sweden,” Davidsson added.

Meva’s business model demands patient capital. Instead of selling hardware, the company builds and operates its own facilities – earning revenue only once production begins.

“That’s why access to financing is absolutely critical,” Davidsson explained.

IKEA and industry shift

So, what’s next?

“Now it’s back to business – growing the company and taking the next step. Permitting in Poland has taken longer than expected, but we’ll break ground on the IKEA project next spring,” he said.

Davidsson also sees growing interest from the manufacturing sector, where many firms are rethinking their energy strategies.

“A lot of companies have explored hydrogen, but that path remains complex and costly. That’s where our technology can make a real difference.”