Liquid Wind, a Swedish developer of eFuel production facilities, has successfully raised €44 million in Series C financing. The funding round, led by Uniper, HYCAP Fund I SCSp, and Samsung Ventures, reportedly marks one of the largest investments in Europe’s eFuel sector this year.
This capital injection will accelerate the company’s strategy to develop 10 eFuel facilities by 2027, with the long-term vision of reaching 500 facilities globally by 2050.
Claes Fredriksson, CEO and Founder of Liquid Wind, said: “Global shipping has realised the urgency of low-carbon eFuels as a commercial necessity to meet sustainability targets and new regulations. The demand for low-carbon maritime fuels is undeniable, and we are seeing major shipping companies launching eFuel-powered vessels. Our shareholders recognise this, and we are pleased to welcome Samsung as a new investor, alongside continued support from Uniper and Hycap. This backing strengthens our capacity to accelerate production and advance our vision to reduce the world’s dependency on fossil fuel. The investment, the largest in our company history, reflects their confidence in Liquid Wind’s potential to scale eFuel production in the years to come.”
Founded in Gothenburg, Sweden, Liquid Wind specialises in producing eMethanol, a fossil-free alternative fuel designed to decarbonise hard-to-abate sectors, including shipping. Leveraging biogenic CO2 and renewable electricity, the company’s facilities aim to generate eMethanol with 94% lower emissions on a ‘Well-to-Wake’ basis (the entire process from fuel production to use), addressing the demand for sustainable maritime fuel solutions.
By 2050, over 100,000 operational ships will need to adopt sustainable energy sources to meet International Maritime Organization (IMO) net-zero targets. Liquid Wind’s scalable and modularised facilities offer a pathway to this transition, with each plant capable of producing 100,000 tonnes of eFuel annually while capturing 150,000 tonnes of CO2.
HYCAP’s CEO, James Munce, highlighted the significance of Liquid Wind’s approach, stating “We are pleased to strengthen our backing for Liquid Wind and its innovative eFuel facilities. Their standardised approach to scaling low-carbon fuel production is exactly what the maritime sector needs to meet its decarbonisation targets. Since our initial investment, Claes and the team have demonstrated a laser focus on delivering the underlying projects and accelerating energy transition in the maritime sector.”
Liquid Wind’s development efforts are supported by collaborations with leading decarbonisation companies such as Alfa Laval, Carbon Clean, Siemens Energy, and Topsoe. The company has also partnered with energy providers Sundsvall Energi, Umeå Energi, NordFuel, and Puhuri to advance projects in Sweden and Finland. Notably, Uniper has selected Liquid Wind to lead the NorthStarH2 project in Östersund, Sweden, which aims to save approximately 200,000 tonnes of CO2 annually.
Read the orginal article: https://www.eu-startups.com/2024/11/gothenburg-based-liquid-wind-raises-e44-million-in-series-c-financing/
