Calderion

Calderion is a Paris-based industrial and technological venture capital fund, launched in 2025 by French growth equity firm Audacia (Euronext Growth Paris), dedicated to the "next-generation fuels" value chain. The €150 million fund focuses on low-carbon hydrogen, CO₂ capture, and synthetic fuels (e-fuels), targeting the decarbonization of hard-to-electrify sectors such as heavy industry, maritime, and aviation. Its verticals span geological, turquoise, emerald, green and blue hydrogen, carbon capture, and carbon-to-molecules (e-methanol, e-SAF). Calderion invests at the seed/Series A stage (roughly TRL 4–7) with initial ticket sizes of €0.3–2M, and plans to back up to 25 companies worldwide, with geographic coverage weighted ~75% Europe and ~25% rest of world. Portfolio companies include H2SITE (Spain), Mitico (USA), Khimod (France), Geolinks (France), Graforce (Germany), and Mantle8 (France). Founding partners are Vincent Brillault and Olivier de Panafieu (also Audacia CEO).