Liquid Wind quickly reaches SEK 1 million in second crowdfunding round
Swedish power-to-liquids (PtL) start-up consortium Liquid Wind has revealed that it has already raised SEK 1 million (≈ EUR 93 300) in the second round of crowdfunding "demonstrating the ongoing commitment to supporting sustainable solutions". The funding will enable Liquid Wind to accelerate its momentum in bringing eMethanol to market at scale and reducing carbon emissions from transport.
Liquid Wind is developing its first commercial-scale eMethanol facility in Sweden and plans to establish six facilities by 2030 before expanding internationally. The project is being supported by the expertise and technology of Axpo, COWI, Carbon Clean Solutions, Haldor Topsoe, Nel Hydrogen, and Siemens.
It is great to see the passion and support for sustainable fuel options. There is a huge need for alternatives and Liquid Wind is in a fantastic position to address this gap. We have expert partners in place to create cost-competitive, liquid fuel and are in active discussions with potential customers who need an accessible solution to reduce emissions fast, said Claes Fredriksson, CEO, and Founder of Liquid Wind.
Using renewable electricity and waste carbon dioxide (CO2), each facility will produce 45 000 tonnes of carbon-neutral eMethanol. Replacing fossil fuels with eMethanol will enable a reduction in carbon dioxide emissions of 90 000 tonnes per year.
The design for the facility is well underway and funds will be used to support engineering and permitting work leading up to the financial close of the facility in 2021. The eMethanol will be commercially available from 2023.
Alluding to the current coronavirus (COVID-19) pandemic, Claes Fredriksson believes that it also provides society with a “valuable and critical opportunity to reassess how we operate” and make some important changes to ensure a more sustainable future.
Especially in times like these, we see that it is essential to support and invest in scalable sustainable solutions that will enable us to significantly reduce carbon emissions, whilst maintaining and growing economic activity. Sweden plans to lead the way in reducing carbon emission from transport, however, we currently lack fuel at the scale needed to make these important targets a reality. Liquid Wind will address this gap and the funds raised will accelerate the transition and allow us to build more facilities faster, said Claes Fredriksson.