Swedish e-fuel plant developer Liquid Wind has signed a collaboration agreement with engineering company SAMSUNG E&A to accelerate the development of e-fuel projects beyond Europe, in Asia, Africa, and the Middle East.
Revealed on December 5, the collaboration agreement aims to combine the companies’ expertise to evaluate collaboration in e-fuel facility development, extending Liquid Wind’s reach and ongoing business development.
Specifically, as part of the partnership, SAMSUNG E&A may be engaged to supply the engineering services of Liquid Wind’s future e-fuel facility projects outside of Europe, in Asia, Africa, and the Middle East.
The partnership will also support Liquid Wind’s long-term objectives and market strategy to develop and deploy e-fuel facilities and expand globally.
Claes Fredriksson , CEO and Founder of Liquid Wind, said: “I am pleased to announce this new collaboration after welcoming Samsung Ventures as a new shareholder in Liquid Wind. In line with our company’s strategy of growing our global presence in the e-fuel space, and through this partnership, we will explore the feasibility of developing e-fuel facilities outside of Europe to meet the increasing market demand of fossil-free fuel.”
Hong Namkoong , President and CEO of SAMSUNG E&A, added: “Building on our strong legacy as a leader in Oil & Gas EPC, SAMSUNG E&A acknowledges the pivotal role of e-fuels in combating climate change. By harnessing our expertise in EPC and modular manufacturing, we are committed to driving growth in the e-fuel market.
“Through our strategic collaboration with Liquid Wind, we aim to ensure the successful delivery of their e-fuel projects, advance efforts to mitigate climate change, and unlock new business opportunities in this transformative sector.”
The latest collaboration comes on the heels of the €44 million financing raised last month in Series C with Uniper, Hycap, and Samsung Ventures to meet the increasing demand for low-carbon fuels.
Liquid Wind described the raise as one of the largest European funding rounds in the e-fuel sector this year. The financing will be used to accelerate the development of green e-fuel production for hard-to-abate sectors, including shipping.