Liquid Wind announces full ownership transition to Ørsted of FlagshipONE, the largest green electrofuels project in Europe
Liquid Wind today announces that Ørsted will acquire full ownership of FlagshipONE, the Swedish green electrofuel plant previously co-owned by Liquid Wind and Ørsted. Located in Örnsköldsvik, FlagshipONE is Europe’s largest green electrofuel facility that has reached a final investment decision.
Global shipping accounts for around 3 % of global emissions. Once FlagshipONE enters operations in 2025, it will produce around 50,000 tonnes of eMethanol yearly. Ørsted has taken final investment decision on the project and will start onsite construction of FlagshipONE in the spring of 2023.
Claes Fredriksson, CEO and Founder of Liquid Wind, says:
“At Liquid Wind we are thrilled to have reached this point together with Ørsted and Övik Energi. The fact that FlagshipONE will be the largest commercial scale electrofuel plant in Europe is extra exciting as we are breaking new ground and hopefully inspiring others to also contribute to the decarbonisation of shipping. Coming together with our partners and investors we are committed to drastically grow production of green electrofuel and reduce the worlds dependency on fossil fuels. Stay tuned for more to come.”
Mads Nipper, CEO of Ørsted, says:
“Now more than ever, the world needs bold green energy projects to fight climate change, decarbonise hard to electrify sectors, and secure regional energy independence. Ørsted is determined to lead the green transformation of society, and that’s exactly what we’re doing by constructing projects like FlagshipONE. eMethanol is the best solution currently available to decarbonise hard-to-electrify sectors like global shipping, and with this first commercial scale project, Ørsted will break first ground on advancing our industry-leading pipeline of e-methanol projects.”
Anders Nordstrøm, Chief Operating Officer of Ørsted Power-to-X, says:
“We’re very pleased that we have successfully co-developed FlagshipONE together with Liquid Wind, and we look forward to starting construction of this world class Power-to-X asset. Together with Liquid Wind, we’ve proven that large-scale production of sustainable eMethanol is possible, and I believe that FlagshipONE will become a milestone in the green transformation of the maritime sector.”
Image: FlagshipONE illustration, Municipality of Örnsköldsvik, Sweden. Liquid Wind and Ørsted
Since its foundation in May 2017, Liquid Wind has established strategic partnerships with Ørsted, Alfa Laval, Carbon Clean, Siemens Energy, Topsoe and Uniper. In early 2022, Liquid Wind and Ørsted reached an agreement under which Ørsted acquired a 45 % ownership share of FlagshipONE. Now Ørsted acquires the remaining 55% and takes on full ownership.
Media contact
Klaudija Cavala, Head of Digital & Marketing Communications
klaudija@liquidwind.se +46 (0)73 369 55 98
About Liquid Wind
Liquid Wind is an electrofuel development company with a vision to reduce the world’s dependency on fossil fuel. Liquid Wind has a solid pipeline of projects in development in the Nordic countries with the goal of reaching 8 million tons of FID’ed projects by 2030. Headquartered in Gothenburg and with a strong presence in Copenhagen, Liquid Wind has approx. 30 employees and a strong group of investors, including Alfa Laval, Carbon Clean, HyCap, Siemens Energy, Topsoe and Uniper. Visit liquidwind.se or follow us on LinkedIn and Twitter.
About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, finances, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive biodiversity impact from all new renewable energy projects it commissions from 2030 at the latest. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2022 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs approx. 7,700 people, with two offices in Sweden. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2021, the group's revenue was DKK 77.7 billion (EUR 10.4 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.
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