Liquid Wind, a Swedish developer specializing in eFuel production facilities, has secured €44 million in Series C financing, marking a significant step toward its goal of reducing the shipping industry’s reliance on fossil fuels. This funding round, one of the largest European investments in the eFuel sector this year, was led by Uniper, HYCAP Fund I SCSp (HYCAP), and Samsung Ventures.
The funds will accelerate Liquid Wind’s plans to establish 10 eFuel production facilities by 2027, contributing to its long-term vision of developing 500 facilities worldwide by 2050. These facilities are designed to provide scalable, sustainable alternatives to conventional maritime fuels, aligning with global efforts to decarbonize shipping in accordance with International Maritime Organization (IMO) targets.
The Urgent Need for Green Fuels in Shipping
The shipping sector, responsible for over 3% of global greenhouse gas emissions, is under pressure to meet net-zero targets by 2050. With 98% of the global fleet currently powered by fossil fuels, transitioning to sustainable alternatives like eMethanol is critical.
Liquid Wind aims to bridge this gap by developing eFuel production facilities that convert biogenic CO₂ and renewable electricity into eMethanol. This low-carbon fuel offers a viable solution to reduce emissions in the maritime sector and is being adopted by leading shipping companies for their decarbonization initiatives.
Claes Fredriksson, CEO and Founder of Liquid Wind, emphasized the industry’s readiness for change “Global shipping has realized 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 we are seeing major shipping companies launching eFuel-powered vessels. This historic investment enables us to accelerate production and reduce the world’s dependency on fossil fuels.”
Partnerships Powering Innovation and Expansion
Liquid Wind has built a robust network of industry partnerships to support its scalable and standardized approach to eFuel production. Collaborating with technology leaders such as Alfa Laval, Carbon Clean, Siemens Energy, and Topsoe, the company has developed a proprietary Digital Twin technology. This tool allows for the rapid design, replication, and deployment of eFuel production facilities, reducing costs and risks.
Each facility is expected to produce 100,000 tons of eFuel annually while upcycling 150,000 tons of carbon dioxide, achieving 94% lower emissions on a “Well-to-Wake” basis compared to fossil fuels.
Jan Taschenberger, COO of New Green Power and Gas at Uniper, highlighted the value of collaboration “We believe that only through a partnership approach can the visionary projects needed for the energy transition be truly successful. Our ongoing partnership with Liquid Wind has proven fruitful, and we look forward to achieving further milestones together to shape the future of the energy industry.”
Samsung Ventures, a new investor in this round, also expressed its support for Liquid Wind’s mission. “Liquid Wind is moving quickly into a market primed for growth and revenue potential. Its ability to disrupt multiple industries and drive carbon-free energy adoption makes this a transformative investment,” a spokesperson stated.
Scaling eFuel Production in Scandinavia
Liquid Wind’s immediate focus includes three eFuel production projects in Sweden and Finland, in partnership with Sundsvall Energi, Umeå Energi, NordFuel, and Puhuri. Additionally, Liquid Wind is leading the development of the NorthStarH2 project in Östersund, Sweden, selected by Uniper to produce 100,000 tons of eMethanol annually for use in shipping and the chemical industry.
Each facility is projected to reduce approximately 200,000 tons of carbon dioxide emissions annually, equivalent to the annual emissions of 43,500 cars.
James Munce, CEO of HYCAP, praised Liquid Wind’s progress “Their standardized approach to scaling low-carbon fuel production is exactly what the maritime sector needs to meet its decarbonization targets. Since our initial investment, the team has demonstrated a laser focus on delivering innovative projects to accelerate the energy transition.”
Driving Forward with Strong Backing
The Series C financing underscores investor confidence in Liquid Wind’s innovative business model and technological capabilities. Morgan Stanley & Co. International plc served as financial advisor for this capital raise, further validating the company’s potential to scale rapidly and achieve its ambitious decarbonization goals.
With its headquarters in Gothenburg and a team of 75 employees, Liquid Wind is building momentum to redefine the future of shipping fuel.
About Uniper
Uniper is a European energy company committed to achieving carbon neutrality by 2040. Operating in over 40 countries, Uniper focuses on power generation, energy trading, and green hydrogen initiatives to drive the energy transition.
About HYCAP
HYCAP is a UK-based net-zero asset management firm dedicated to accelerating sustainable energy solutions, with a portfolio that includes companies at the forefront of hydrogen and eFuel development.
About Samsung Ventures
Samsung Ventures invests in innovative technologies across various domains, with a growing focus on sustainability and carbon-free energy solutions to drive a greener future.
About Liquid Wind
Liquid Wind is a leading developer of eFuel production facilities designed to reduce the world’s dependency on fossil fuels. By combining biogenic CO₂ and renewable energy, Liquid Wind produces eMethanol, a low-carbon alternative for maritime and other industries. With a goal of establishing 10 projects by 2027 and 500 by 2050, Liquid Wind is at the forefront of maritime decarbonization.
Source Liquid Wind