The consortium's first synthetic methanol plant will be built in Sweden. Image Credit: Liquid Wind
A consortium of companies led by Swedish low-carbon fuel company Liquid Wind has joined forces to develop the production of synthetic methanol for use as a marine fuel and in other outlets, the company said last week.
The companies will develop production facilities for synthetic methanol -- made from hydrogen produced using renewable electricity -- across Scandinavia, Liquid Wind said in a statement on its website.
Synthetic methanol is one of the low-carbon alternative fuels being proposed as a means for the shipping industry to comply with the IMO 2050 target of halving its greenhouse gas emissions over the next three decades.
The consortium plans to build six synthetic methanol production facilities by 2030, each with a production capacity of 45,000 mt/year, and aims to start supplying the product from 2023, the company said.
Liquid Wind is already in discussions with shipping companies, and expects to sign its first purchase agreements for the fuel later this year, it said.