Swedish e-fuel plant developer Liquid Wind has secured €44 million in Series C financing to support the development of ten e-fuel facilities by 2027.
The raise, which is said to be one of the largest funding rounds in Europe for e-fuels this year, was led by Uniper, HYCAP Fund I SCSp, and Samsung Ventures.
Liquid Wind said the financing will help meet increasing demand for low-carbon fuels in the shipping industry and support the development of ten e-fuel facilities by 2027 as part of the company’s vision of reaching 500 facilities globally by 2050.
Claes Fredriksson , CEO and Founder of Liquid Wind, commented: “Global shipping has realised 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. Our shareholders recognise this, and we are pleased to welcome Samsung Ventures as a new investor, alongside continued support from Uniper and HYCAP.
“This backing strengthens our capacity to accelerate production and advance our vision to reduce the world’s dependency on fossil fuel. The investment, the largest in our company history, reflects their confidence in Liquid Wind’s potential to scale eFuel production in the years to come.”
Liquid Wind is working on the development of scalable e-fuel facilities to convert biogenic CO2 and renewable electricity into e-methanol, a fossil-free alternative fuel. The company uses a standardized and modularised approach to enable efficient replication of these facilities, addressing common barriers such as high costs and limited scalability in e-fuel adoption.
Together with its partners Alfa Laval, Carbon Clean, Siemens Energy, and Topsoe, Liquid Wind has established a joint eFuel Design and Performance Centre in Hørsholm, Denmark dedicated to innovating and accelerating the deployment of e-fuel plants.
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In addition, Liquid Wind is developing three e-fuel projects in Sweden and Finland in collaboration with Sundsvall Energi , Umeå Energi , NordFuel , and Puhuri.
The company was also selected by Uniper to lead the development of the NorthStarH2 project in Östersund, Sweden. Uniper’s NorthStarH2 plant will convert biogenic CO2 and renewable electricity to produce over 100,000 tons of e-Methanol. Liquid Wind has been chosen to develop the project by applying a standardized design and digital platform that enables efficient replication to replace fossil fuels and feedstock.
Each plant is projected to save approximately 200,000 tons of CO2 annually, equivalent to the yearly emissions output of about 43,500 cars.