ETFuels has developed a unique production model that combines vast renewable energy farms with green fuels production facilities
Capital injection from SWEN Capital Partners’ SWIFT 2 fund gives ETFuels the opportunity to accelerate towards 2030 goal of 1.4M tonnes of green methanol production for the shipping industry and other end-markets, ETFuels reports.
ETFuels is delighted to announce a significant investment from SWEN Impact Fund for Transition 2 (SWIFT 2), a European impact strategy dedicated to renewable gas infrastructure managed by SWEN Capital Partners, that positions the company ETFuels as a leading Pan-Atlantic producer of green fuels.
ETFuels has developed a unique production model that combines vast renewable energy farms with green fuels production facilities. This model unlocks renewable energy, allowing ETFuels to produce green fuels in a more cost competitive, scalable and sustainable way for their shipping customers, delivering a 91% reduction in emissions compared to heavy fuel oil.
Lara Naqushbandi, CEO of ETFuels commented: "With the costs of carbon capture, renewables and electrolyzers continuing to fall, ETFuels will play a crucial role in decarbonizing shipping. To enable our vision of energy transition at hyperscale we are delighted to have SWIFT 2 join our existing investor base. SWIFT 2 has demonstrated a pioneering focus on investing in green molecule opportunities since 2019 and we value the trust they have shown in our team."
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