Liquid Wind has closed its Series A funding round, securing €4M ($4.9m) in equity investment. Investors in the e-methanol facility developer include Alfa Laval, Carbon Clean, Falkor, Haldor Topsoe, Siemens Energy and Uniper.
The investment will be used for the development of Liquid Wind’s first e-methanol production facility, and support plans for further facilities.
When used as marine fuel, e-methanol reduces carbon emissions by 94% compared to current fossil fuels, Liquid Wind stated in a release today.
Liquid Wind’s first e-methanol facility will be located in Örnsköldsvik in northeast Sweden. The company aims to establish 500 facilities by 2050, which will prevent the emission of 50m tonnes of carbon dioxide every year, the equivalent of Sweden’s total emissions.
Liquid Wind has also raised funds from angel investors and through crowdfunding.
Claes Fredriksson, CEO and founder of Liquid Wind, commented: “Crowdfunding has been an important source of funding for Liquid Wind, particularly in the early days of our business. It is a great way to enable people to effectively vote for the future they want to see. As well as financial support, we have also gained valuable contacts and ambassadors through crowdfunding.”
Liquid Wind expects to be selling its own e-methanol from early 2024.