Liquid Wind raises EUR 44 million

Liquid Wind, which started the journey at Innovatum Science Park, has secured €44 million in one of the largest electrofuel funding rounds in Europe this year. The funding, led by Uniper, HYCAP and Samsung Ventures, accelerates the development of climate-neutral electrofuel production. 

- The global shipping industry recognizes the urgent need for low-carbon electrofuels as a commercial necessity to meet sustainability targets and new regulations. The demand for green shipping fuels is undeniable, and we are now seeing major shipping companies launching electrofuel-powered vessels. Our shareholders are aware of this, and we are pleased to welcome Samsung Ventures as a new investor, along with continued support from Uniper and HYCAP. This strengthens our capacity to accelerate production and advance our vision to reduce the world's dependence on fossil fuels. The investment, which is the largest in the company's history, reflects the confidence in Liquid Wind's potential to scale up the production of electrofuels in the coming years," said Claes Fredriksson, CEO and founder of Liquid Wind in a press release.

The funding will support Liquid Wind's strategy to reach investment decisions for 10 electrofuel plants by 2027 with the aim of developing 500 plants globally by 2050.

Over 100,000 ships to convert

The global shipping sector is facing a major challenge: by 2050, all shipping must be sustainable, and over 100,000 ships will need to switch to fossil-free fuels using non-fossil energy sources.

Liquid Wind therefore sees a strong demand from shipping companies and their customers for green shipping solutions that reduce carbon dioxide emissions in the supply chains and contribute to achieving set climate goals.

Liquid Wind is developing the production facilities needed to meet demand and replace fossil fuels with low-carbon electrofuels, facilitating the decarbonization of global shipping.

Started the journey at Innovatum Science Park

In 2015, Claes Fredriksson had the idea of a new, renewable fuel for global shipping. Two years later, he founded Liquid Wind with the goal of reducing carbon dioxide emissions by 50 million tons per year, equivalent to Sweden's total annual emissions. The business idea? To develop and sell facilities for large-scale production of the new electrofuel.

During the start-up, Claes came into contact with our project activities, and was subsequently accepted into our incubator, which included Liquid Wind between 2017 and 2020.