French investment firm Audacia has set up a new €150 million fund called Calderion to support the development of next-generation fuels.

The fund focuses on technologies that can reduce emissions in areas such as heavy industry, maritime transport and aviation, Audacia said in a statement on its website on Wednesday.

Calderion aims to back about 25 companies working on low-carbon fuels and related technologies.

Its first investments include:

• H2SITE, which produces high-purity hydrogen
• MITICO, a company specialising in CO2 capture
• KHIMOD, which builds reactors used in making e-fuels.

Audacia said the move is part of its wider strategy to advance decarbonisation and strengthen energy independence.

“Next-generation fuels are a strategic lever for accelerating the energy transition,” Vincent Brillault, Founding Partner of Calderion, said.