#Sweden #Gothenburg #Liquid Wind #SAMSUNG E&A #eFuel facilities

Liquid Wind and SAMSUNG E&A Forge Strategic Partnership for Global eFuel Advancement

In a groundbreaking move set to reshape the landscape of sustainable fuels, Liquid Wind has announced a strategic partnership with SAMSUNG E&A. The announcement took place on December 5, 2024, during the Sweden-South Korea Strategic Summit held in Seoul. This collaboration aims to accelerate the development of eFuel facilities, focusing on regions beyond Europe, including Asia, Africa, and the Middle East.

A Vision for Sustainable Growth

With the increasing global demand for fossil-free fuels, both Liquid Wind and SAMSUNG E&A are keen to leverage their combined expertise to evaluate potential collaborations in the eFuel sector. Liquid Wind's CEO and founder, Claes Fredriksson, expressed excitement about this alliance, highlighting that it aligns with the company's strategy to expand its global footprint in the eFuel market. He emphasized the importance of developing these facilities to meet rising market demands.

"I’m pleased to announce this new collaboration with SAMSUNG E&A after the recent inclusion of Samsung Ventures as a significant shareholder in Liquid Wind," stated Fredriksson. "This partnership opens up avenues for us to explore feasibility studies and eventually establish eFuel facilities in various regions outside of Europe."

Expertise Meets Innovation

SAMSUNG E&A, known for its robust engineering capabilities in the oil and gas sectors, will play a crucial role in this partnership. The company’s President and CEO, Hong Namkoong, reiterated SAMSUNG E&A's commitment to innovation and sustainability. He said, "We recognize the critical role of eFuels in the fight against climate change. With our engineering, procurement, and construction (EPC) expertise, we aim to ensure the success of Liquid Wind’s eFuel projects, thereby unlocking new business opportunities in this transformative industry."

This partnership is part of Liquid Wind's broader goals to contribute significantly to the low-carbon economy and respond to the urgent need for sustainable energy solutions worldwide. The strategic agreement also signifies a milestone in the energy sector, where both companies will combine their resources and knowledge to tackle climate challenges effectively.

Funding to Fuel the Vision

On November 21, 2024, Liquid Wind successfully completed a €44 million ($47 million USD) Series C financing round, which included investments from Uniper, Hycap, and Samsung Ventures. This funding is one of the largest in Europe’s eFuel sector this year and will aid in the rapid development of green eFuel production targeted at hard-to-decarbonate industries, including shipping.

Looking Ahead

The partnership and recent financing present exciting opportunities for Liquid Wind and SAMSUNG E&A to not only enhance their market presence but also to significantly contribute to global sustainability efforts. As the world increasingly seeks alternatives to fossil fuels, both companies are strategically positioned to lead the charge toward greener energy solutions.

As they embark on this collaborative journey, Liquid Wind and SAMSUNG E&A are set to redefine the energy landscape, promoting the vital transition to sustainable fuels and driving innovations that will ripple through the industry for years to come.

The signing ceremony that marked this historic partnership showcased high-level delegations and indicated a strong commitment to enhance bilateral cooperation in clean energy technology and development across regions.

With the shared goals and collective expertise of both organizations, the future of eFuel technologies looks promising, and the journey towards a more sustainable energy ecosystem is just beginning.