Carbon capture technology provider Carbon Clean has entered into an agreement with power-to-fuels developer Liquid Wind to develop a carbon-neutral marine fuel.
Under the terms of the deal, Carbon Clean’s technology will capture biogenic carbon dioxide emissions from a local industrial site.
Within the Liquid Wind facility, the CO₂ will then be combined with renewable hydrogen to form the carbon-neutral liquid fuel, eMethanol.
“Carbon neutral fuel is an incredibly compelling prospect, and it’s exciting to partner and have invested in another high-growth business in Liquid Wind to help further accelerate the reduction of total carbon emissions,” Aniruddha Sharma , CEO of Carbon Clean, said.
“We have been successfully deploying our carbon capture technology at industry sites. We are now demonstrating how carbon capture can be a source of value creation.”
“Carbon Clean is a leader in carbon capture, committed to continuously reducing the cost of the process, which is essential as we work together to produce cost-competitive carbon-neutral fuel ,” Claes Fredriksson , CEO, Liquid Wind added.
Liquid Wind has assembled a consortium including Siemens Energy, Haldor Topsoe and Carbon Clean. The companies plan to collaborate on the integration of technology and the production of cost-effective renewable methanol.
The first facility, FlagshipONE, will be located in Örnsköldsvik, on the north east coast of Sweden.
However, Liquid Wind wants to scale up rapidly to meet the growing demand for renewable methanol.
The plan is to set up 6 facilities across Scandinavia by 2030, and then scale up to 500 facilities by 2050 and license the technology internationally.
Under the plan, each facility aims to upcycle 70,000 tons of CO2 into 50,000 tons of carbon neutral eMethanol fuel per year.