Liquid Wind has completed its Series A financing round, raising €4 million in equity investment. Alfa Laval, Carbon Clean, Falkor, Haldor Topsoe, Siemens Energy, and Uniper are among the investors in the eMethanol facility developer.
The investment will be used for the development of Liquid Wind’s first eMethanol production facility, and support plans for further facilities.
Liquid Wind, a Power-to-Fuel company, will develop and finance facilities to produce carbon-neutral liquid fuel, eMethanol. The marine industry, in particular, is looking to eMethanol as a way to enable more sustainable shipping, as it currently consumes 350 million tonnes of fuel per year. When used as marine fuel, eMethanol reduces carbon emissions by 94 percent when compared to conventional fossil fuels.
Liquid Wind is currently building their first eMethanol facility in Örnsköldsvik, Sweden, in the north-east. Liquid Wind is designing their business to scale quickly in order to meet the growing demand for cleaner fuel. They plan to build 500 facilities by 2050, preventing the emission of 50 million tonnes of CO2 per year, the equivalent of Sweden’s total emissions. Several expert partners, including Alfa Laval, Carbon Clean, Falkor, Haldor Topsoe, Siemens Energy, and Uniper, have joined the project to help achieve this important goal, 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. 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.”Claes Fredriksson, CEO and Founder of Liquid Wind.
“The appetite to invest in clean tech 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”.Tuya Bold, head of Finance at Liquid Wind
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. Liquid Wind expect to reach financial close for the facility early in 2022, with eMethanol available from early 2024.