E-fuel firm Liquid Wind declares bankruptcy
Swedish e-fuel developer Liquid Wind has declared bankruptcy, and the company and its subsidiaries in Sweden, Denmark and Finland have been put up for sale.
IMAGE: Model of Liquid Wind's e-methanol plant. Liquid Wind
The bankruptcy proceedings began on 11 May, the company said. The development comes days after the company submitted an environmental permit application for a large-scale e-methanol production plant in Sweden's Örnsköldsvik.
Liquid Wind sold its first e-methanol plant, FlagshipONE, to Danish wind energy company Ørsted in 2022. But Ørsted scrapped the project in 2024 citing failure to secure financially viable long-term offtake agreements and high project development costs.
Liquid Wind subsequently planned five modular e-methanol plants across the Nordics - in Sweden, Denmark and Finland - each with a production capacity of 100,000 mt/year.
The company initially targeted the entire output for marine bunkering before later expanding its focus to the aviation and chemical sectors.
In 2025, Liquid Wind chief executive Claes Fredriksson told ENGINE that the company aimed to develop 80 modular e-methanol plants across the Nordics by 2030, with a combined production capacity of 8 million mt/year.
The company’s longer-term ambition was to build 500 plants globally by 2050, while also exploring opportunities in Asia, Africa and the Middle East.
In an interview with ENGINE, Fredriksson stressed that securing financially viable offtake agreements was critical during the early stages of project development.
“We don't know exactly what the price point can or should be. So, yes, it’s critical that we have some key offtakers who step forward, believe in what we are doing, and want to be part of it,” he said.
“They may or may not be backed by a government support mechanism, but absolutely, we need them. It's only when we have those offtakers that we can confidently develop a plant, or find an investor willing to finance it, and secure the necessary power, and so on.
We can prepare a lot beforehand, but once we start building a plant, everything needs to be lined up.”
By Konica Bhatt
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