Planning a significant funding into inexperienced fuels, Danish power large Orsted and Liquid Wind AB have reached an settlement, below which Orsted will purchase a forty five% possession share of Liquid Wind AB’s FlagshipONEproject, Orsted mentioned on January 12.
FlagshipONE is a late-stage growth venture and will turn into the world’s first large-scale sustainable e-methanol venture. Liquid Wind AB plans to ascertain a collection of services throughout Sweden to decarbonise the maritime sector, of which FlagshipONE would be the first.
Orsted mentioned the corporate’s entry into the FlagshipONE venture is a testomony to the corporate’s strategic ambition of constructing a worldwide management place inside inexperienced fuels and renewable hydrogen. FlagshipONE provides to Orsted’s rising hydrogen and Power-to-X venture pipeline, which incorporates a number of initiatives geared toward decarbonising maritime transport.
FlagshipONE may have an electrolyser capability of round 70 MW and is predicted to provide 50,000 tonnes of e-methanol per yr based mostly on renewable hydrogen and biogenic CO2. The electrolysis producing the hydrogen will likely be powered by onshore wind, and the biogenic CO2 will likely be captured from the mixed warmth and energy plant Horneborgsverket in Örnsköldsvik in Sweden, the place FlagshipONE may also be positioned.
Orsted and Liquid Wind AB anticipate to fee FlagshipONE in 2024, topic to ultimate funding choice, which may occur as quickly as 2022.
“Orsted 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,” Orsted CCO and Deputy Group CEO Martin Neubert mentioned. “Like we did with offshore wind, we are at Orsted 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,” he added.
For his half, Liquid Wind CEO and Founder Claes Fredriksson hailed his firm’s partnership with Orsted, a worldwide sustainability chief recognising e-methanol as a alternative for in the present day’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. Our green fuel will become a dominant fuel for true decarbonisation in the hard to abate shipping sectors, reducing CO2 emissions with more than 90 %. FlagshipONE is the first facility, and it’s Liquid Wind’s ambition to significantly scale up the number of facilities across the world by 2050,” he mentioned.
Orsted’s head of hydrogen and Power-to-X actions, Anders Nordstrom, mentioned Orsted by partnering with Liquid Wind on FlagshipONE, is getting into probably the most promising and thrilling initiatives to produce e-methanol at scale and drive the decarbonisation of maritime transport and different makes use of of e-methanol. “With the right framework and societal support, FlagshipONE can become one of the world’s first large-scale e-methanol facilities and an important addition to Ørsted’s growing and diverse portfolio of hydrogen and Power-to-X projects,” he mentioned.
According to the International Energy Agency, emissions from worldwide transport have risen by 40% from 2000 to 2019 and account for round 2% of complete world power associated greenhouse fuel emissions in the present day, Orsted mentioned. The sector urgently wants new sorts of gas to cut back its local weather influence, and Orsted is concerned in a number of initiatives that intention at delivering sustainable fuels for maritime transport, together with the Green Fuels for Denmark venture in Copenhagen.