Liquid Wind raises €4M in equity to produce eFuel
Liquid Wind have closed their Series A funding round, securing €4M in equity investment. Investors in the eMethanol facility developer include Alfa Laval, Carbon Clean, Falkor, Haldor Topsoe, Siemens Energy and Uniper. The investment will be used for the development of Liquid Wind’s first eMethanol production facility, and support plans for further facilities.
A Power-to-Fuel company, Liquid Wind will develop and finance facilities to produce carbon neutral liquid fuel, eMethanol. In particular, the Marine industry is looking to eMethanol as a pathway to enable more sustainable shipping, and currently consumes 350 million tonnes of fuel every year. When used as marine fuel, eMethanol reduces carbon emissions by 94% compared to current fossil fuels.
Methanol and eMethanol offer a smooth transition pathway to power large vessels and enable carbon neutral shipping.
Liquid Wind is currently developing their first eMethanol facility, which will be located in Örnsköldsvik, in north-east Sweden. To meet growing demand for cleaner fuel, Liquid Wind are designing their business to scale rapidly. They are aiming to establish 500 facilities by 2050, which will prevent the emission of 50M tonnes of carbon dioxide every year, the equivalent of Sweden’s total emissions. Several expert partners have joined the project to support in reaching this important goal, including Alfa Laval, Carbon Clean, Falkor, Haldor Topsoe, Siemens Energy and Uniper, with many providing technology and expertise as well as investment.
“There is a growing desire from established businesses to drive sustainable change and enable the shift from fossil resources,” said Claes Fredriksson, CEO and Founder of Liquid Wind.
“We are proud to work with these world-class companies and leverage their expertise and financial muscles to enable the sustainable energy transition and make a significant dent in carbon emissions.”
Tuya Bold, Head of Finance at Liquid Wind added, “The appetite to invest in cleantech and ESG focused companies was amplified when ESG funds out-performed the S&P 500 during the pandemic. This is an indication of future market value and Liquid Wind is well placed to deliver impactful returns to our stakeholders”.
Liquid Wind have also raised funds from Angel Investors and through crowdfunding, leveraging the growing interest in eFuel and desire to support climate action from private individuals.
Claes Fredriksson commented “Crowdfunding has been an important source of funding for Liquid Wind, particularly in the early days of our business. It is a great way to enable people to effectively ‘vote for’ the future they want to see. As well as financial support, we have also gained valuable contacts and ambassadors through crowdfunding.”
Liquid Wind expect to reach financial close for the facility early in 2022, with eMethanol available from early 2024.