Swedish eFuel facility developer Liquid Wind 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 10 eFuel facilities by 2027 as part of the company’s vision of reaching 500 facilities globally by 2050. The raise represents one of the largest European funding rounds in the eFuel sector this year.
Liquid Wind is seeing strong demand from shipping companies and their clients for green shipping solutions to help decarbonize supply chains and meet essential targets.
The majority of global trade is transported by sea, accounting for 3% of global greenhouse gas emissions according to the UNCTAD. This is driven by 98% of the world’s operational transport fleet running on conventional fossil fuels. The shipping industry must now decarbonize to meet the International Maritime Organization’s (IMO) 2050 net zero targets. Liquid Wind is developing the production facilities needed to meet the demand and replace carbon intensive maritime fossil fuels with low-carbon eFuel, facilitating the decarbonization of global shipping.
Liquid Wind develops scalable eFuel facilities to convert biogenic CO2 and renewable electricity into eMethanol, a fossil-free alternative fuel. Liquid Wind’s standardized and modularized approach enables efficient replication of these facilities, addressing common barriers such as high costs and limited scalability in eFuel adoption. Central to the strategy is the use of the proprietary Digital Twin technology which allows the company to rapidly replicate, construct and implement eFuel production facilities with reduced cost and risk.
On an annual basis, each standardized Liquid Wind facility will produce up to 100,000 tons of eFuel while upcycling 150,000 tons of carbon dioxide, generating 94% lower emissions compared to fossil fuels on a Well-to-Wake basis (the entire process from fuel production to use).
In collaboration with Alfa Laval, Carbon Clean, Siemens Energy and Topsoe, Liquid Wind has established a joint eFuel Design and Performance Center in Hørsholm, Denmark, dedicated to innovating and 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.
Morgan Stanley & Co. International plc acted as financial advisor to Liquid Wind on the capital raise.
