Swedish electro-fuels (eFuels) project developer Liquid Wind AB has announced that it has raised EUR 15.2 million in Series B financing. Existing investors Uniper, Alfa Laval, Siemens Energy, Topsoe, Elyse, and other shareholders are also participating in this round, alongside HyCap Fund I SCSp (HyCap), a UK-based hydrogen specialist investment fund.
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A business unit within Vedra Partners Ltd, HyCap has a key focus on investing in the emerging green hydrogen economy, matching supply and demand with a focus on demand origination allowing the market to scale rapidly.
With the proceeds from the series B round, Liquid Wind will continue building its capabilities and developing projects for decarbonizing the maritime industry.
The energy sector, including the hard-to-decarbonize transport sector, needs transformation towards a green and secure energy supply. Renewable molecules like methanol enable the transportability, storability, and applicability of renewable energy sources in these hard-to-decarbonize sectors. European solutions are needed more than ever and together with our strong partners, we have now achieved an important milestone to further support Liquid Wind’s growth, said Arne Hauner, Director of Innovation at Uniper SE.
In 2021, Liquid Wind raised EUR 4 million in Series A funding.
We are really excited to support and develop efficient technical solutions to make electro-fuel a reality together with Liquid Wind. It will be an important part of a more sustainable future. Alfa Laval heat transfer and separation technologies are already being used in applications to support the decarbonization of electricity, heating, and cooling, fuels, and chemicals. We keep on pushing the boundaries, and working closely with our partners, to take us another step closer to tomorrow’s energy infrastructure, said Julien Gennetier, VP Energy Division, Alfa Laval.
Liquid Wind recently received the environmental permit for FlagshipONE in Örnsköldsvik, which is co-owned with Ørsted.
We are excited to be part of Liquid Wind’s efforts to develop and establish the production of green electro-fuels, like eMethanol, which can facilitate the decarbonization of hard-to-abate sectors, including the maritime industry. The maritime industry is one of the single biggest emitters of greenhouse gases and, therefore, an industry where green fuel alternatives are needed to achieve a sustainable future. Topsoe’s mission is exactly to support our partners like Liquid Wind in combating climate change, said Sundus Cordelia Ramli, Chief Commercial Officer Power-to-X, Topsoe.
Earlier this year, Liquid Wind announced that its second facility FlagshipTWO will be developed in Sundsvall.
Both facilities are located in north-east Sweden, in Örnsköldsvik and Sundsvall respectively, and will produce green electro-fuel for the marine industry; supporting decarbonization in the hard-to-abate shipping sector by reducing fossil carbon dioxide (CO2) emissions by more than 90 percent.
We are very excited to receive this latest round of funding from our existing strategic shareholders and HyCap. Their valued support is evidence of the importance and urgency of bringing green electro-fuel to market. Furthermore, it is a confirmation of the trust our partners have in Liquid Wind and our team, ended Claes Fredriksson, CEO, and Founder of Liquid Wind.