Liquid Wind AB (Gothenburg, Sweden) and Samsung E&A (Seoul, South Korea) have entered into a collaboration agreement to accelerate the development of eFuel facilities outside of Europe, in Asia, Africa, and the Middle East. The partnership aims to combine each party’s expertise to evaluate opportunities for collaboration in eFuel facility development, extending Liquid Wind’s reach and ongoing business development. Liquid Wind’s other engineering partners have included Worley, AFRY and Alfa Laval.
Under the collaboration, Samsung E&A may be engaged to supply the engineering services of Liquid Wind’s future eFuel facility projects outside of Europe, in Asia, Africa, and the Middle East. The partnership supports Liquid Wind’s long-term objectives and its market strategy to develop and deploy eFuel facilities and expand globally.
Claes Fredriksson, CEO and founder of Liquid Wind, said: “I am pleased to announce this new collaboration after welcoming Samsung Ventures as a new shareholder in Liquid Wind*. In line with our company’s strategy of growing our global presence in the eFuel space, and through this partnership, we will explore the feasibility of developing eFuel facilities outside of Europe to meet the increasing market demand of fossil-free fuel.”
Hong Namkoong, President and CEO of Samsung E&A, said: “Building on our strong legacy as a leader in Oil & Gas EPC, Samsung E&A acknowledges the pivotal role of eFuels in combating climate change. By harnessing our expertise in EPC and modular manufacturing, we are committed to driving growth in the eFuel market. Through our strategic collaboration with Liquid Wind, we aim to ensure the successful delivery of their eFuel projects, advance efforts to mitigate climate change, and unlock new business opportunities in this transformative sector.”
The collaboration agreement was signed by Claes Fredriksson, CEO and founder of Liquid Wind, and Hong Namkoong, President and CEO of Samsung E&A. The signing ceremony took place in Seoul during the Sweden-South Korea Strategic Summit on 5 December 2024 and in presence of a large high-level business delegation to Japan and South Korea, led by Business Sweden.
On 21 November 2024, Liquid Wind announced the raising of €44 million ($47 million) in Series C financing with Uniper, Hycap and Samsung Ventures to meet the increasing demand for low-carbon fuels. The raise represents one of the largest European funding rounds in the eFuel sector this year and will accelerate the development of green eFuel production for hard-to-abate sectors including shipping.