EU-Catalyst Partnership supports Ørsted’s FlagshipONE project

Energy

Sweden – Ørsted has unveiled the EU-Catalyst Partnership’s support for its FlagshipONE project, positioning it as a beacon of innovation for decarbonizing the shipping sector.

The EU-Catalyst Partnership, comprising the European Commission, Breakthrough Energy Catalyst, and the European Investment Bank (EIB), has committed support to this transformative venture. Breakthrough Energy Catalyst, a unique collaborative model fostering public-private partnerships for climate technologies, will acquire a 15% equity interest in FlagshipONE. This partnership, accompanied by a grant, underlines the project’s significance and potential impact on the maritime landscape.

Funding for FlagshipONE

The funding landscape for FlagshipONE includes contributions from Breakthrough Energy Catalyst, Horizon Europe grants, and a quasi-equity investment from EIB through InvestEU. This collective support not only validates the project’s potential but also reflects a concerted effort to drive innovation in sustainable technologies.

E-Methanol production

Located in Örnsköldsvik, Sweden, FlagshipONE is slated to produce up to 55,000 tonnes of e-methanol annually. This production capacity is expected to facilitate over a 95% reduction in carbon emissions compared to conventional fossil fuels. The project aligns with Ørsted’s commitment to advancing green fuels and combating climate change.

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Wim Raaijen
I am a creative publisher, editor in chief, writer, vlogger and moderator with a journalistic and philosophic based view. Trying to re-invent the concept of publishing, based on platforms and partners, instead of separated media and advertisements. I am interested in industrial subjects like transition, sustainability, safety, energy efficiency, innovation and responsibility.