Industrial and Technological Venture Capital Fund building the value<br> chain of Next Generation Fuels

PARIS, FRANCE

OUR MISSION
Leverage on tech entrepreneurship
 to make Next Generation Fuels
as competitive as fossil-based hydrocarbons

Sustainable industries

Low carbon H2O & Syngas

to decarbonize refineries, NH3 or steel

CO2 capture

point of source capture for gas power plants or cement

  • Roughly 20% of global emissions cannot be tackled via electrification. The Energy Transition & Sovereignty calls for more than clean electrons. It calls for Clean Molecules.
Our answer?
 An industrial and technological build up of the Clean Molecules Value Chain
united by the same competitive green molecules.

Disrupt

Investing in technologies & industrial approaches that can move the needle

Geological
Hydrogen

Current cost:

N/A

2030 Target:

<1€/kg

 

DISCOVERY

 

EXPLORATION

 

STIMULATION

 

EXTRACTION

 

Turquoise
Hydrogen

Current cost:

N/A

2030 Target:

<2,5€/kg

BIOMETHANE NEXTGEN

DRYMETHANE REFORMING

PLASMA CATALYSIS

 

PLASMALYSIS

Optimize

Investing in technologies to improve economics or footprint of existing H2 supply routes

Green & Emerald
Hydrogen

Current cost:

6-8€/kg

2030 Target:

<4€/kg

NON-PGM CATALYSTS

 

NEXTGEN MEMBRANES

 

Advanced Electrolyzer Manufacturing

 

Thermocatalysis

Blue
Hydrogen

Current cost:

3-4€/kg

2030 Target:

<3€/kg

Fossil reference: 1,5-2€/kg

GAS RECOVERY

CARBON CAPTURE

 

Integrate

Closing the carbon toop turning
CO2 into use

Carbon to molecules

Current cost:

CO2 capture: 100€+/ton

2030 Target:

<50€/ton

CARBONE CAPTURE

CO2 TO CO

Methanol Synthesis

 

SAF SYNTHESIS

We are targeting already existing molecule markets accounting for >200Bn€/Year today which driven by sovereignty, cost control & environmental regulation, could reach 300Bn€/Year by 2030

Geological
Hydrogen

Green
Hydrogen

2025

Bn€ /year*
c. 0

H2 for industry

Turquoise
Hydrogen

Blue
Hydrogen

Carbon to
Molecules

2025

Bn€ /year*
c. 0
Syngas & CO2 capture

Carbon to
Molecules

2030

Bn€ /year*
c. 0

e-Methanol & e-SAF

*Calderion estimates
Our answer? An industrial and technological build up of the Clean Molecules Value Chain
united by the same competitive green molecules.

Disrupt

Investing in technologies to improve economics or footprint of existing H2 supply routes

GEOLOGICAL HYDROGEN

  • Current cost: N/A
  • 2030 Target: <1€/kg

Turquoise Hydrogen

  • Current cost: N/A
  • 2030 Target: <2,5€/kg

Optimize

Investing in technologies to improve economics or footprint of existing H2 supply routes

GREEN/EMERALD HYDROGEN

  • Current cost: 6-8€/kg
  • 2030 Target: <4€/kg

BLUE HYDROGEN

  • Current cost: 3-4€/kg
  • 2030 Target: <3€/kg

Integrate

Closing the carbon toop turning
CO2 into use

CARBON TO MOLECULES

  • CO2 Capture current cost: 100€+/ton
  • 2030 Target: <50€/ton

2025

Bn€ /year*
c. 0
H2 for industry

2025

Bn€ /year*
c. 0
Syngas & CO2 Capture

2030

Bn€ /year*
c. 0

e-Methanol & e-SAF

* Calderion estimates
To guide Calderion
we have carried out extensive preparatory work:
Interviews with industry players
0 +
technologies studied
0 +
startups examined
0 +
Why us?
We are entrepreneurs... for entrepreneurs
We take a founder-friendly approach, choosing to believe in a few exceptional founders to do their job better than anyone else
Image description
We have industrial DNA
Our advantage comes from bridging financing and industrial expertise, and applying that to a space currently underserved by high-quality capital
Image description
We are supported by Audacia
20 years of experience in Private Equity and Deep Tech Funds launched notably with Quantonation, Expansion
Image description
We take a reverse-approach towards value creation starting from technologies & value chain to bring industrial products to the market & generate financial and environmental return
PORTFOLIO
Where have we invested
map
Mitico
X
  • Pasadena, USA
  • CO2 Capture

Founders: Clément Cid, Alain Gu, Léopold Delobelle

Founded in: 2022

First invesment by Calderion: 2024

Vertical: Carbon to molecules

Sub-vertical: Carbon Capture Technologies

Short Description: Potassium carbonate looping technology to reduce drastically the cost of Point of Source CO2 capture

See website
H2SITE
X
  • Bilbao, Spain
  • H2

Founders: Andrès Galnares

Founded in: 2019

Vertical: Low Carbon Hydrogen

Sub-vertical: New Extraction & Purification Technologies

Short Description: Advanced H2 separation technology for drastically reducing costs of purifying and transporting Hydrogen

See website
Calderion
X
  • Paris, FR
Industrial and Technological Venture Capital Fund building the value chain of Next Generation Fuels. Founded in 2025
Khimod
X
  • Wissous, FR
  • e-Methanol et e-SAF

Founders: Nicolas Serrie, Olivier Bouchard, Pierre Prieux

Founded in: 2019

Vertical: Carbon to Molecules

Sub-vertical: Synthetic Fuels synthesis

Short Description: Innovative Heat Exchanger-Reactors (HERs) to drastically reduce sustainable fuels synthesizing costs

Website

Targeted Entry stage : Seed/Series A (equivalent TRL 4 to TRL 7), 1st Ticket Size : 0.3 to 2m€; Geographical coverage : Europe 75% / Rest of the World 25%

Company portfolio invested in versus total fund target:
12%
Status of deployment of our Industrial & Technological Roadmap:
30%
TEAM
Meet our leadership:

Vincent Brillault

Founding Partner

Olivier de Panafieu

Founding Partner

Christophe Hecker

Operating Partner

and our corporate experts from

Romain Andrieu

Investor Relations

Amaury Daignes

Investor Relations

Lydia Kardjoudj

Compliance

Eléonore de Rose

Communications

Tanguy Dyèvre

Back-office

LATEST NEWS

Snam reveals the finalist startups that will participate in the HyAccelerator, “Net Zero Revolution" Call4Startup

Oct.15, 2025

H2Site have been ranked as one in the top 100 global impact companies

Sep.30, 2025

Khimod launches its first cross-border methanation project

Apr.7, 2025

KHIMOD raises €23 million to accelerate its growth

Jul.2, 2025

Mitico Secures $4.3 Million Seed Funding to Commercialize Industrial Carbon Capture Technology

Feb.20, 2025

Hydrogen equipment pioneer H2SITE successfully raises EUR36 million from a consortium of investors co-led by Hy24 and SC Net Zero Ventures

Jan.16, 2025

CONTACT
Ready to build a better future with us?

Hôtel de Bourrienne,
58 Rue d’Hauteville, 75010 Paris – France
+33 (0) 1 56 43 48 00

Sustainable industries

Low carbon H2O & Syngas

to decarbonize refineries, NH3 or steel

CO2 capture

point of source capture for gas power plants or cement

Industrial Basins

Green steel

Green NH3 or cement

Sustainable long-distance mobility

e-Methanol

for maritime

e-SAF

for aviation