Swedish start-up Liquid Wind has raised SEK1 million to produce carbon netural fuel through a crowdfunding campaign.
Liquid Wind, in partnership with its expert Consortium, will convert waste CO2 and renewable electricity into carbon neutral fuel, eMethanol. The funding will enable Liquid Wind to accelerate momentum in bringing eMethanol to market at scale and reducing carbon emissions from transport.
Claes Fredriksson, CEO and founder of Liquid Wind commented: “It is great to see the passion and support for sustainable fuel options. There is a huge need for alternatives and Liquid Wind are in a fantastic position to address this gap. We have expert partners in place to create cost-competitive, liquid fuel and are in active discussions with potential customers who need an accessible solution to reduce emissions fast.”
Liquid Wind is developing the first commercial-scale eMethanol facility in Sweden and plans to establish 6 facilities by 2030 before expanding internationally. The project is supported by the expertise and technology of Axpo, COWI, Carbon Clean Solutions, Haldor Topsoe, Nel Hydrogen and Siemens. Each facility will produce 45k tonnes of fuel. By replacing fossil fuels, a reduction in carbon dioxide emissions of 90k tonnes per year is expected.
The design for the facility is underway and funds will be used to support engineering and permitting work leading up to financial close of the facility in 2021. The eMethanol will be commercially available from 2023.
Claes believes that there is now a valuable and critical opportunity to reassess how businesses operate and to make some important changes to ensure a more sustainable future.
“Especially in times like these, we see that it is essential to support and invest in scalable sustainable solutions that will enable us to significantly reduce carbon emissions, whilst maintaining and growing economic activity. Sweden plans to lead the way in reducing carbon emission from transport, however we currently lack fuel at the scale needed to make these important targets a reality. Liquid Wind will address this gap and the funds raised will accelerate the transition and allow us to build more facilities faster.”