- Press Releases
January 12 (Renewables Now) - Ørsted A/S (CPH:ORSTED) said today it will invest in an e-methanol project in Sweden in a move underscoring its ambition to become a global leader in green fuels and renewable hydrogen.
The Danish energy group has agreed to acquire a 45% stake in the FlagshipONE project of Swedish e-methanol start-up Liquid Wind AB for an undisclosed amount.
FlagshipONE is the first of a series of facilities planned by Liquid Wind and could become the first large-scale sustainable e-methanol project in the world, Ørsted said.
With an electrolyser of around 70 MW powered by onshore wind, FlagshipONE is expected to produce 50,000 tonnes of e-methanol per year for the shipping industry. The fuel will be produced from hydrogen and biogenic carbon dioxide (CO2) captured from a nearby combined heat and power plant in Ornskoldsvik in Sweden.
A final investment decision on the project could be made this year, with commissioning expected in 2024.
“Like we did with offshore wind, we are at Ørsted ready to be a driving force in maturing the green fuels industry, where we can play a significant role in decarbonising hard-to-abate sectors like maritime transport,” stated Ørsted CCO and deputy group CEO Martin Neubert.
Liquid Wind recently secured EUR 15 million (USD 17m) for FlagshipONE under the Climate Leap initiative of the Swedish Environmental Protection Agency.
(EUR 1 = USD 1.134)