Ørsted expands presence in green fuels with investment in e-methanol project in Sweden
Ørsted and Liquid Wind have reached an agreement over an e-methanol project.
Ørsted will acquire a 45% ownership share of Liquid Wind AB’s FlagshipONE facility.
FlagshipONE is a late-stage development project and could become the world’s first large-scale sustainable e-methanol project.
Liquid Wind plans to establish a series of facilities across Sweden to decarbonise the maritime sector.
FlagshipONE adds to Ørsted’s growing hydrogen and Power-to-X project pipeline, which includes several projects aimed at decarbonising maritime transport.
FlagshipONE will have an electrolyser capacity of around 70 MW and is expected to produce 50,000 tonnes of e-methanol per year based on renewable hydrogen and biogenic CO2.
Ørsted and Liquid Wind AB expect to commission FlagshipONE in 2024.
Martin Neubert, CCO and Deputy Group CEO of Ørsted, said: “Ørsted has set the clear strategic ambition of building a global leadership position within renewable hydrogen and green fuels, and our investment in FlagshipONE is a clear proof of our commitment to this ambition.”
Claes Fredriksson, CEO and Founder of Liquid Wind, added: ”We are extremely pleased with the opportunity of engaging in a partnership with Ørsted, a global sustainability leader recognising e-methanol as a replacement for today's marine fossil fuels. The interest from Ørsted shows how far Liquid Wind has come and is further evidence for the importance of electro-fuel.”
Ørsted will acquire a 45% ownership share of Liquid Wind AB’s FlagshipONE facility.
FlagshipONE is a late-stage development project and could become the world’s first large-scale sustainable e-methanol project.
Liquid Wind plans to establish a series of facilities across Sweden to decarbonise the maritime sector.
FlagshipONE adds to Ørsted’s growing hydrogen and Power-to-X project pipeline, which includes several projects aimed at decarbonising maritime transport.
FlagshipONE will have an electrolyser capacity of around 70 MW and is expected to produce 50,000 tonnes of e-methanol per year based on renewable hydrogen and biogenic CO2.
Ørsted and Liquid Wind AB expect to commission FlagshipONE in 2024.
Martin Neubert, CCO and Deputy Group CEO of Ørsted, said: “Ørsted has set the clear strategic ambition of building a global leadership position within renewable hydrogen and green fuels, and our investment in FlagshipONE is a clear proof of our commitment to this ambition.”
Claes Fredriksson, CEO and Founder of Liquid Wind, added: ”We are extremely pleased with the opportunity of engaging in a partnership with Ørsted, a global sustainability leader recognising e-methanol as a replacement for today's marine fossil fuels. The interest from Ørsted shows how far Liquid Wind has come and is further evidence for the importance of electro-fuel.”
