Audacia launches new EUR 150 million fund dedicated to next-generation fuels

French private equity firm Audacia on Wednesday (12 November) announced the launch of Calderion, a EUR 150 million fund dedicated to new generation fuels such as low-carbon hydrogen, CO capture, e-fuels. 

Calderion will target technologies capable of reducing emissions from sectors that are difficult to electrify: heavy industry, maritime transport, aviation, with the ambition to support 25 international champions in the value chain of decarbonised fuels.

The first participations of the fund illustrate this industrial approach:

• H2SITE (high purity hydrogen),
• MITICO (capture of CO₂),
• KHIMOD (innovative reactors for e-fuels).

“Next-generation fuels represent a strategic lever for accelerating the energy transition. With Calderion, we aim to support technologies capable of making these new decarbonised fuels both competitive and abundant, through investments in companies selected for their disruptive nature and their complementarity in the value chain,” said Vincent Brillault, Founding Partner of Calderion.

“This new fund strengthens our mission in the service of European energy sovereignty,” said Olivier de Panafieu, Founding Partner of Calderion and Managing Director of Audacia.

Photo credit: Audacia
Published: 17 November, 2025