April 29 (Renewables Now) - Liquid Wind AB, a Swedish circular carbon energy company that plans to build a total of seven e-methanol production facilities by 2030, has recently initiated its second crowdfunding campaign.
The company said in a statement it has quickly raised about SEK 1 million (USD 101,000/EUR 93,000). The funding will help speed up the process of bringing its product to market at scale. More specifically, it will be used to back engineering and permitting work.
The Gothenburg-based start-up focuses on the conversion of waste carbon dioxide (CO2) and renewable power into a renewable liquid fuel, namely e-methanol. It intends to develop its first commercial-scale plant in Sweden and then build six more in the country, before expanding internationally.
The plan is to reach financial close for the first facility in 2021.
“We have expert partners in place to create cost-competitive, liquid fuel and are in active discussions with potential customers who need an accessible solution to reduce emissions fast,” said Claes Fredriksson, CEO and Founder of Liquid Wind.
The project is backed by Axpo, COWI, Carbon Clean Solutions, Haldor Topsoe, Nel Hydrogen and Siemens.
(SEK 10 = USD 1.013/EUR 0.932)