Swedish e-fuels developer Liquid Wind has raised another €44m ($36.6m) in a funding round led by existing investors — German energy company Uniper and private equity firm Hycap — as well as new backer Samsung Ventures.
Liquid Wind plans to build ten facilities by 2027, four of which are already under development in Sweden and Finland, with an aim for 500 projects by 2050.
Each of these plants is designed to produce green hydrogen and combine it with biogenic CO2 to produce 100,000 tonnes of green methanol per year, with a 94% reduction in lifecycle emissions compared to fossil fuels.
Earlier this year, Uniper had selected Liquid Wind to lead development of its NorthStarH2 project in northern Sweden.
Liquid Wind was also the firm behind FlagshipONE, which had been sold to Orsted in late 2022. While Orsted had taken a final investment decision on the plant that same year, it then cancelled the project in 2024, arguing that the liquid e-fuels market in Europe was not developing as quickly as expected.
However, Liquid Wind and its investors appear confident that the global shipping market will soon commit to purchasing large volumes of clean methanol, particularly in Europe, where the FuelEU Maritime regulation has already set out quotas for emissions reduction.
“Global shipping has realised the urgency of low-carbon eFuels as a commercial necessity to meet sustainability targets and new regulations,” said Claes Fredriksson, CEO and founder of Liquid Wind.
“The demand for low-carbon maritime fuels is undeniable, and we are seeing major shipping companies launching eFuel-powered vessels.”
Fredriksson added that the €44m funding round was Liquid Wind’s largest to date.
