Sweden-based Liquid Wind has secured funds from InnoEnergy to convert waste carbon dioxide using renewable electricity into a marine fuel - e-methanol
Emerging renewable energy company Liquid Wind plans to address the growing need for renewable fuels and support decarbonisation of currently ‘hard-to-abate’ sectors with renewable liquid fuel. The company will convert waste carbon dioxide using carbon capture and renewable electricity into renewable liquid fuel, e-methanol, providing a viable and cost-effective alternative to fossil-origin fuels, particularly for shipping vessels and heavy transport.
According to Liquid Wind, shipping contributes more than 1Bn tonnes to global greenhouse gas emissions and IMO has committed to reducing emissions by 50% by 2050. The cruise liner industry has even stronger ambitions, with a 40% reduction by 2030. However the industry currently lacks a viable alternative fuel to reach this crucial target.
Liquid Wind aims to develop and manage facilities to produce e-methanol in large volumes, which will enable industries such as shipping to significantly reduce their carbon emissions and improve their value proposition. As a liquid, electro-fuel or e-methanol is easy to use, store and transport with limited modifications to existing infrastructure.
InnoEnergy, a European impact fund investing in solutions in energy and cleantech will provide support and invest €1.7M to enable Liquid Wind to develop the world’s first commercial scale e-methanol facility in Sweden.
Liquid Wind’s chief executive officer Claes Fredriksson said “We are very excited to accelerate the planning and development of our first e-methanol facility with our consortium partners early in 2020. This is a significant next step in bringing e-methanol to market at scale to meet growing demand. The strong backing from InnoEnergy is really valuable in enabling us to rapidly move towards the investment decision for our first facility.”
Liquid Wind will now engineer its first e-methanol facility in Sweden, integrating proven technology from a consortium of leading experts. Six initial facilities are planned for Scandinavia. Liquid Wind will then replicate the operation internationally to meet demand and significantly reduce carbon emissions. E-methanol, from the FlagshipONE facility, will be commercially available from 2023.
Liquid Wind key facts:
Hear and see more about the opportunities presented by maritime environmental regulations at the Maritime Hybrid & Electric (incorporating Hydrogen & Fuel Cells) Asia in Singapore 26-27 February 2020