Liquid Wind announces full ownership transition to Ørsted of FlagshipONE, the largest green electrofuels project in Europe

Liquid Wind today announces that Ørsted will acquire full ownership of FlagshipONE, the Swedish green electrofuel plant previously co-owned by Liquid Wind and Ørsted. Located in Örnsköldsvik, FlagshipONE is Europe’s largest green electrofuel facility  that has reached a final investment decision. 

Global shipping accounts for around 3 % of global emissions. Once FlagshipONE enters operations in 2025, it will  produce around 50,000 tonnes of eMethanol yearly. Ørsted has taken final investment decision on the project and will  start onsite construction of FlagshipONE in the spring of 2023. 

Claes Fredriksson, CEO and Founder of Liquid Wind, says: 

At Liquid Wind we are thrilled to have reached this point together with Ørsted and Övik Energi. The fact that FlagshipONE will be the largest commercial scale electrofuel plant in Europe is extra exciting as we are breaking new ground and  hopefully inspiring others to also contribute to the decarbonisation of shipping. Coming together with our partners and  investors we are committed to drastically grow production of green electrofuel and reduce the worlds dependency on fossil fuels. Stay tuned for more to come.” 

Mads Nipper, CEO of Ørsted, says: 

Now more than ever, the world needs bold green energy projects to fight climate change, decarbonise hard to electrify  sectors, and secure regional energy independence. Ørsted is determined to lead the green transformation of society, and that’s exactly what we’re doing by constructing projects like FlagshipONE. eMethanol is the best solution currently  available to decarbonise hard-to-electrify sectors like global shipping, and with this first commercial scale project, Ørsted  will break first ground on advancing our industry-leading pipeline of e-methanol projects.” 

Anders Nordstrøm, Chief Operating Officer of Ørsted Power-to-X, says: 

We’re very pleased that we have successfully co-developed FlagshipONE together with Liquid Wind, and we look forward to starting construction of this world class Power-to-X asset. Together with Liquid Wind, we’ve proven that large scale production of sustainable eMethanol is possible, and I believe that FlagshipONE will become a milestone in the green transformation of the maritime sector.”  

Since its foundation in May 2017, Liquid Wind has established strategic partnerships with Ørsted, Alfa Laval, Carbon Clean, Siemens Energy, Topsoe and Uniper.In early 2022, Liquid Wind and Ørsted reached an agreement under which Ørsted acquired a 45 % ownership share of FlagshipONE. Now Ørsted acquires the remaining 55% and takes on full ownership.  

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