Ørsted’s takes FID on FlagshipONE e-methanol project

In Sweden, Ørsted’s board of directors has taken final investment decision (FID) on the 50,000 metric ton/year FlagshipONE e-methanol project. FlagshipONE will be Ørsted’s first commercial-scale Power-to-X facility and is an important steppingstone towards Ørsted’s ambition of taking a leading position in renewable hydrogen and green fuels. Reinforcing the commitment to the FID, Ørsted has taken full ownership of FlagshipONE by acquiring the remaining 55% stake in the project from Liquid Wind AB, the original developer of the project.

Located in Örnsköldsvik in Northern Sweden, FlagshipONE is Europe’s largest FID’ed green e-methanol facility. FlagshipONE is expected to enter into operation in 2025 and will produce around 50,000 tons of e-methanol each year to help decarbonise the world’s shipping industry.