July 2 (Renewables Now) - Liquid Wind, a Swedish company seeking to transform carbon emissions into fuel using surplus wind electricity, has raised SEK 2.4 million (USD 257,500/EUR 227,500) in a crowdfunding campaign on FundedByMe.
The alternative fuels firm said Monday it has received investments from 150 people over five weeks. The funds will support the planning and development of its first production facility for electro-fuel in Sweden, to be called FlagshipONE and located in Stenungsund.
Liquid Wind has plans to build a total of six plants for carbon-neutral fuel, e-Methanol, at home before also launching projects abroad. Each plant will be capable of reducing 2 million tonnes of carbon dioxide (CO2) emissions.
The company is working with an expert consortium of five companies with significant knowledge of building chemical and energy facilities, it said.