Liquid Wind gains strong support for electro-fuel
The Swedish Power-to-Fuel company has successfully raised over 2.7M SEK (260k EUR) through crowdfunding. Over 250 individuals have now invested in Liquid Wind to support the development of carbon neutral fuel facilities and accelerate the transition from fossil fuels. Large logistics and transportation companies have expressed interest in using the fuel to achieve their sustainability goals. The sustainable fuel project is supported by an expert consortium, including Haldor Topsoe, Siemens, Nel Hydrogen and Carbon Clean Solutions.
Cargo Ship which can be powered by carbon neutral eMethanol rather than polluting fossil fuels.
Liquid Wind, will set-up commercial-scale eMethanol facilities. Each facility will contain state-of-the-art technology to efficiently convert biogenic CO2 and renewable electricity into carbon neutral fuel. eMethanol is a liquid fuel making it easy to store, transport and use in Shipping, Road Transport or the Chemical Industry.
Claes Fredriksson, CEO and Founder of Liquid Wind comments “The world needs much more sustainable fuel. Governments and corporations are making strong commitments to reduce carbon emissions, but we need access to viable alternatives to make that happen. Support for renewable fuels such as eMethanol is growing, but we need to accelerate this progress so we can reduce emissions and meet our sustainability commitments.”
Liquid Wind plans to follow the business model used to successfully scale the wind power sector. They will develop and structure eMethanol facilities for project financing, to attract infrastructure investors. Each facility will be organised as a Special Purpose Vehicle with long-term contracts for CO2, power and sale of eMethanol (eMPAs, eMethanol Purchase Agreements), as well as the appropriate permits.
Fredriksson adds “This approach has proven successful in attracting investments to develop wind power and we have a valuable opportunity to use the same structure to finance and scale renewable fuel. Investors are looking for new opportunities and we are excited to be able to provide attractive and sustainable options that will accelerate the transition from fossil fuels and support our green recovery.”
Visualisation of eMethanol Facility
Liquid Wind is planning the first eMethanol facility in northern Sweden, which they expect to be operational from 2023. They plan to develop five further facilities in Scandinavia before 2030, at which point the model will be replicated and licenced internationally. The company is open for investment and plans to close their Series A investment round at the end of July.