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  4. Liquid Wind raises €44 million in Series C financing for low-carbon fuels

Liquid Wind raises €44 million in Series C financing for low-carbon fuels

Published by , Assistant Editor
Global Hydrogen Review,

Liquid Wind, the leading Swedish eFuel facility developer, has raised €44 million in Series C financing led by Uniper, HYCAP Fund I SCSp (HYCAP) and Samsung Ventures. The financing will support the development of 10 eFuel facilities by 2027 as part of the company’s vision of reaching 500 facilities globally by 2050. The raise represents one of the largest European funding rounds in the eFuel sector this year.

The global shipping sector is facing an urgent challenge: by 2050, all ship transport must be sustainable, and over 100 000 operational ships will need to transition to non-fossil fuel energy sources. Consequently, Liquid Wind is seeing strong demand from shipping companies and their clients for green shipping solutions to help decarbonise supply chains and meet essential targets.

The majority of global trade is transported by sea, accounting for 3% of global greenhouse gas emissions according to the UNCTAD1. This is driven by 98% of the world’s operational transport fleet running on conventional fossil fuels. The shipping industry must now decarbonise to meet the International Maritime Organization’s (IMO) 2050 net zero targets. Liquid Wind is developing the production facilities needed to meet the demand and replace carbon intensive maritime fossil fuels with low-carbon eFuel, facilitating the decarbonisation of global shipping.

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.”

Jan Taschenberger, COO New Green Power and Gas of Uniper, said: “We believe that only through a partnership approach can the visionary projects needed for the energy transition be truly successful. Joint projects such as NorthStarH2, which aims to produce 100 000 t of eMethanol for use in shipping and the chemical industry, can lead the way. Our ongoing partnership with Liquid Wind has proven to be very fruitful and we look forward to achieving further milestones together and actively shaping the future of the energy industry. This continued collaboration fits perfectly with Uniper's commitment to achieve carbon neutrality by 2040.”

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/21112024/liquid-wind-raises-44-million-in-series-c-financing-for-low-carbon-fuels/

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