Swedish electrofuel developer Liquid Wind has raised EUR 44 million (USD 46.4 million) in a Series C financing round, the largest in the company's history. The funds will be used to accelerate the construction of 10 e-fuel facilities by 2027.
This financing round, one of the biggest in Europe's e-fuels sector in 2024, was led by existing investors, German energy group Uniper SE, UK private equity firm HYCAP, and new investor Samsung Ventures.
CEO and founder Claes Fredriksson commented, “The demand for low-carbon maritime fuels is undeniable, and we are seeing major shipping companies launching eFuel-powered vessels. This backing strengthens our capacity to accelerate production and advance our vision to reduce the world's dependency on fossil fuel.”
Liquid Wind's plants convert biogenic CO2 and renewable electricity into e-methanol, with each site set to produce up to 100,000 tonnes of e-fuel annually. The company aims to establish 500 facilities globally by 2050.
In collaboration with partners like Sundsvall Energi, Umea Energi, NordFuel, and Puhuri, Liquid Wind is developing three projects in Sweden and Finland. Additionally, the company has strengthened its partnership with Uniper for joint e-fuel initiatives, including the NorthStarH2 project in Sweden. Liquid Wind also plans to develop 10 more e-methanol facilities in the Nordics by 2027.
