Liquid Wind raises €15.2 million in Series B round from existing shareholders and HyCap
The investment will drive the development of green electrofuel, for the marine industry.
Liquid Wind, the Swedish green electrofuel development company, today announced that it has raised EUR 15.2 million in Series B financing. Existing investors Uniper, Alfa Laval, Siemens Energy, Topsoe, Elyse and other shareholders are also participating in this round, alongside HyCap Fund I SCSp (“HyCap”) a UK-based hydrogen specialist investment fund. With the proceeds from to the series B round, the company will continue building its capabilities and developing projects for decarbonizing the maritime industry. In 2021, Liquid Wind raised EUR 4 million in Series A funding.
“The energy sector, incl. the hard to decarbonize transport sector, needs transformation towards green and secure energy supply. Renewable molecules like Methanol enable transportability, storability and applicability of renewable energy sources in these hard to decarbonize sectors. European solutions are needed more than ever and together with our strong partners, we have now achieved an important milestone to further support Liquid Wind's growth”, says Arne Hauner, Director Innovation, Uniper SE.
“We are really excited to support and develop efficient technical solutions to make electrofuel a reality together with Liquid Wind. It will be an important part of a more sustainable future. Alfa Laval heat transfer and separation technologies are already being used in applications to support the decarbonization of electricity, heating & cooling, fuels and chemicals. We keep on pushing the boundaries, and working closely with our partners, to take us another step closer to tomorrows energy infrastructure”, says Julien Gennetier, VP Energy Division, Alfa Laval.
“We are excited to be part of Liquid Wind’s efforts to develop and establish production of green electrofuels, like eMethanol, which can facilitate the decarbonization of hard-to-abate sectors, including the maritime industry. The maritime industry is one of the single biggest emitters of greenhouse gases and, therefore, an industry where green fuel alternatives are needed to achieve a sustainable future. Topsoe’s mission is exactly to support our partners like Liquid Wind in combating climate change”, says Sundus Cordelia Ramli, Chief Commercial Officer Power-to-X, Topse.
Claes Fredriksson, CEO and Founder of Liquid Wind, comments:
“We are very excited to receive this latest round of funding from our existing strategic shareholders and HyCap. Their valued support is evidence of the importance and urgency of bringing green electrofuel to market. Furthermore, it is a confirmation of the trust our partners have in Liquid Wind and our team.”
Liquid Wind recently received the environmental permit for FlagshipONE in Örnsköldsvik, which is co-owned with Ørsted. In August this year Liquid Wind announced that its second facility FlagshipTWO will be developed in Sundsvall. Both facilities are located in north-east Sweden and will produce green electrofuel for the marine industry; supporting decarbonization in the hard-to-abate shipping sector by reducing CO2 emissions with more than 90 %.
About Uniper
Uniper is a leading international energy company, has around 11,500 employees, and operates in more than 40 countries. The company plans for its power generation business in Europe to be carbon-neutral by 2035. Uniper’s roughly 33 GW of installed generation capacity make it one of the world‘s largest electricity producers. The company’s core activities include power generation in Europe as well as global energy trading and a broad gas portfolio, which makes Uniper one of Europe’s leading gas companies. In addition, Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply. The company is based in Düsseldorf and is one of Germany’s largest publicly listed energy supply companies.
About HyCap
HyCap has a key focus on investing in the emerging green hydrogen economy and their investment strategy is to match supply and demand for hydrogen, with a focus on demand origination allowing the market to scale rapidly.
https://www.hycapgroup.com/
About Alfa Laval
Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling, and is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.
Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.
Alfa Laval has 17,900 employees. Annual sales in 2021 were SEK 40.9 billion (approx. EUR 4 billion). The company is listed on Nasdaq Stockholm.
About Topsoe
Founded in 1940, Topsoe is a leading global developer and supplier of decarbonization technology, catalysts, and services for the energy transition.
Our mission is to combat climate change by helping our partners and customers achieve their decarbonization and emission-reduction targets, including those in hard-to-abate sectors such as aviation, shipping, and the production of raw materials. From carbon reduction chemicals, to renewable fuels and plastic upcycling, we are uniquely positioned to aid humanity in realizing a sustainable future.
Topsoe is headquartered in Denmark, with over 2,100 employees serving customers all around the globe. To learn more, visit www.topsoe.com
Clarksons Securities AS acted as financial advisor to Liquid Wind in the transaction.
MAQS Law Firm acted as legal advisor to Liquid Wind in the transaction.
For further information, please reach out to:
Klaudija Cavala
Head of Digital & Marketing Communications
About Liquid Wind
Liquid Wind is an electrofuel development company committed to reducing CO2 emissions. The company develops, finances, builds, and manages replicable facilities to produce green electrofuel to accelerate the transition to carbon neutral shipping. The facilities will produce renewable liquid fuel, so that Liquid Wind can offer its customers the opportunity to quickly reach their sustainability goals. In 2021, Liquid Wind was named one of 5 Top Energy Start-ups globally by StartUs Insights. For more information, please visit liquidwind.se or follow us on LinkedIn and Twitter.
Tags:
