The investment will drive the development of green electrofuel, for the marine industry.
Liquid Wind, the Swedish green electrofuel development company, today announced that it has raised EUR 15.2 million in Series B financing. Existing investors Uniper, Alfa Laval, Siemens Energy, Topsoe, Elyse and other shareholders are also participating in this round, alongside HyCap Fund I SCSp (“HyCap”) a UK-based hydrogen specialist investment fund. With the proceeds from to the series B round, the company will continue building its capabilities and developing projects for decarbonising the maritime industry. In 2021, Liquid Wind raised EUR 4 million in Series A funding.
“The energy sector, incl. the hard-to-decarbonise transport sector, needs transformation towards a green and secure energy supply. Renewable molecules like Methanol enable transportability, storability and applicability of renewable energy sources in these hard-to-decarbonise sectors. European solutions are needed more than ever and together with our strong partners, we have now achieved an important milestone to further support Liquid Wind's growth”, says Arne Hauner, Director Innovation, Uniper SE.
“We are really excited to support and develop efficient technical solutions to make electrofuel a reality together with Liquid Wind. It will be an important part of a more sustainable future. Alfa Laval heat transfer and separation technologies are already being used in applications to support the decarbonisation of electricity, heating & cooling, fuels and chemicals. We keep on pushing the boundaries, and working closely with our partners, to take us another step closer to tomorrow's energy infrastructure”, says Julien Gennetier, VP Energy Division, Alfa Laval.
“We are excited to be part of Liquid Wind’s efforts to develop and establish production of green electrofuels, like eMethanol, which can facilitate the decarbonisation of hard-to-abate sectors, including the maritime industry. The maritime industry is one of the single biggest emitters of greenhouse gases and, therefore, an industry where green fuel alternatives are needed to achieve a sustainable future. Topsoe’s mission is exactly to support our partners like Liquid Wind in combating climate change”, says Sundus Cordelia Ramli, Chief Commercial Officer Power-to-X, Topsoe.
Claes Fredriksson, CEO and Founder of Liquid Wind, comments:
“We are very excited to receive this latest round of funding from our existing strategic shareholders and HyCap. Their valued support is evidence of the importance and urgency of bringing green electrofuel to market. Furthermore, it is a confirmation of the trust our partners have in Liquid Wind and our team.”
Liquid Wind recently received the environmental permit for FlagshipONE in Örnsköldsvik, which is co-owned with Ørsted. In August this year Liquid Wind announced that its second facility FlagshipTWO will be developed in Sundsvall. Both facilities are located in north-east Sweden and will produce green electrofuel for the marine industry; supporting decarbonisation in the hard-to-abate shipping sector by reducing CO2 emissions with more than 90 %.
Clarksons Securities AS acted as financial advisor to Liquid Wind in the transaction.
MAQS Law Firm acted as legal advisor to Liquid Wind in the transaction.