Ørsted has shelved its hydrogen-based e-fuels project in Sweden, incurring a DKK 1.5bn ($221m) loss, but says it remains committed to renewable hydrogen.
The FlagshipONE project, planned for Örnsköldsvik, Sweden, was expected to start operations next year, producing 55,000 tonnes of e-methanol annually for shipping by combining renewable hydrogen and captured carbon dioxide (CO2). H2 View understands the plans reached a final investment decision (FID) two years ago.
However, Mads Nipper, Group President and CEO of Ørsted said the company took the decision to “de-prioritise” its efforts within the e-fuels market and cease the development of FlagshipONE.
The CEO added, “The liquid e-fuel market in Europe is developing slower than expected. We will continue our focus and development efforts within renewable hydrogen, which is essential for decarbonising key industries in Europe and closer to our core business.
