Liquid Wind raised €44 million to support the development of ten eFuel facilities by 2027, one of the largest funding rounds in Europe for eFuels this year.
The eFuel facility developer has raised €44 million in Series C financing led by Uniper, HYCAP Fund I SCSp (HYCAP) and Samsung Ventures. The financing will support the development of ten eFuel facilities by 2027 as part of the company’s vision of reaching 500 facilities globally by 2050.
On an annual basis, each standardised Liquid Wind facility will produce up to 100,000 tons of eFuel while upcycling 150,000 tons of carbon dioxide, generating 94 percent lower emissions compared to fossil fuels on a ’Well-to-Wake’ basis (the entire process from fuel production to use).
In collaboration with decarbonisation companies Alfa Laval, Carbon Clean, Siemens Energy and Topsoe, Liquid Wind has established a joint eFuel Design and Performance Centre in Hørsholm, Denmark dedicated to accelerating the deployment of eFuel plants.
Additionally, Liquid Wind has partnered with Sundsvall Energi, Umeå Energi, NordFuel and Puhuri, to develop three projects in Sweden and in Finland.
As part of these initiatives, and alongside the development of the company’s own eFuel facilities, Uniper has selected Liquid Wind to lead the development of the NorthStarH2 project in Östersund, Sweden.
Each plant is projected to save approximately 200,000 tons of carbon dioxide annually, equivalent to the yearly emissions output of about 43,500 cars.
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 there are major shipping companies launching eFuel-powered vessels.
…said Claes Fredriksson, CEO and Founder, Liquid Wind.
Claes Fredriksson continued by commenting that the shareholders recognise this, and Liquid Wind is pleased to welcome Samsung Ventures as a new investor, alongside continued support from Uniper and HYCAP. This backing strengthens the company’s capacity to accelerate production and advance its vision to reduce the world’s dependency on fossil fuel. The investment, the largest in the company’s history, reflects the confidence in Liquid Wind’s potential to scale eFuel production in the years to come.
We believe that only through a partnership approach can the visionary projects needed for the energy transition be truly successful. Joint projects such as NorthStarH2, which aims to produce 100,000 tons of eMethanol for use in shipping and the chemical industry, can lead the way.
…said Jan Taschenberger, COO New Green Power and Gas, Uniper.
Taschenberger also commented that the ongoing partnership with Liquid Wind has proven to be very fruitful and looks forward to achieving further milestones together and actively shape the future of the energy industry. Furthermore, this continued collaboration fits perfectly with Uniper’s commitment to achieve carbon neutrality by 2040.
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.
…said James Munce, CEO, HYCAP.
Morgan Stanley & Co. International plc acted as financial advisor to Liquid Wind on the capital raise.
