Swedish power-to-fuel developer Liquid Wind has received €15 million ($16.9 million) for its FlagshipONE eMethanol fuel-producing facility from Swedish Climate Leap.
The Swedish agency for environmental protection works on behalf of the Swedish government on the country’s environmental work. The goal of their initiative Climate Leap is to support local and regional investments that reduce CO2 emissions.
Swedish Climate Leap Klimatklivet has invested this significant sum in Sweden’s first eMethanol production facility. The facility is to supply the shipping industry with carbon-neutral methanol.
The FlagshipONE facility will be located in Örnsköldsvik, in the north of Sweden.
Its construction process will start in the spring of 2022. Once operational, the facility will produce 50,000 tonnes of eMethanol starting in 2024.
The facility will upcycle CO2 emissions and combine this with green hydrogen to produce eMethanol. eMethanol, when used as a marine fuel, reduces carbon emissions by 94 per cent compared to current fossil fuels.
“The investment grant shows the strategic importance of eMethanol as a replacement for today’s marine fossil fuels. Global shipping currently uses 350 million tonnes fossil fuels per year. Thanks to Climate Leap, Liquid Wind, and our partners will be able to accelerate the transition to green fuel and reduce CO2 emissions with more than 90 per cent” , said Claes Fredriksson , CEO of Liquid Wind.
Finally, there are other partners contributing to the design and production of Scandinavia’s first plant. These specifically include Alfa Laval, Carbon Clean, Haldor Topsoe, Siemens Energy, Uniper, and Worley.