# Meva Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/meva-energy

- Industry: Renewable Energy
- Headquarters: Sweden
- Website: www.mevaenergy.com
- Total disclosed funding: $1.2M
- Latest round: Seed (Jan 8, 2021)
- Investors on record: 1

## About

Meva Energy specializes in innovative biomass gasification technology, transforming waste residues into renewable gas and power, facilitating a shift from fossil fuels in industrial processes. Founded in 2008 in Sweden, Meva Energy focuses on biomass gasification technology. The company has pivoted towards emphasizing renewable energy solutions since its inception. Notably, The company operates primarily from Sweden and has formed partnerships with major manufacturing firms such as Sofidel and IKEA, aiming to minimize greenhouse gas emissions through sustainable energy practices. Meva Energy specializes in biomass gasification technology, primarily focusing on converting waste residues into renewable energy, specifically renewable gas and power. Their systems enable manufacturing industries to replace fossil fuel consumption with sustainable energy solutions, effectively addressing greenhouse gas emissions. The technology, developed through collaborations with Luleå University of Technology and the Energitekniskt Centrum (ETC) gasification center, has been in operation since 2008. Key clients include Sofidel, producing tissue, IKEA, and Elcowire, with applications spanning tissue production and copper manufacturing across Sweden and potentially other European markets. In 2023, Meva Energy reported revenue of EUR 4,620.90 mn. Their revenue model is primarily B2B, focusing on partnerships for the deployment of biomass gasification technology. The company engages clients under long-term contracts for energy supply, contributing to stable revenue generation. Their flagship renewable gas solutions are tailored to meet specific client energy needs, ensuring alignment with sustainability objectives while the company reported an EBITDA of EUR -3,300,346.30 for the same year. Looking ahead, Meva Energy plans to enhance its product offerings within the biomass gasification sector, though specific new product details and release dates have not been disclosed. The company aims to expand its geographical footprint beyond Sweden into other European markets by 2025, capitalizing on growing demands for sustainable manufacturing solutions.

## Funding rounds

- Seed, Jan 8, 2021, $1.2M — InnoEnergy

## Investors

- InnoEnergy (https://capitalatlas.ai/funds/innoenergy) — Seed