SVT Västernorrland told about the major investment Flagship One, which would become Europe’s largest facility for e-methanol, for the first time in September 2021. The facility would be completed in 2025 and at full capacity it could produce up to 55,000 tons of e-methanol per year.
Övik Energi confirms
Last December, Bill Gates came out and declared that he was prepared to invest 240 million euros in the planned facility.
Investment in fossil-free ship fuel in Örnsköldsvik
So now everything comes to nothing. The Danish owner Ørsted, which is a partner with Bill Gates-founded Breakthrough Energy Catalyst, is said to have made the decision already on Wednesday. During Thursday morning, Övik Energi’s CEO Roland Nordin confirmed the whole thing to SVT.
According to a press release from Østed, the reason is that profitability has dropped sharply during the first half of 2024. The losses should have amounted to around five billion kroner – but then the 2.3 billion that the group invested in investments in the Örnsköldsvik plant are included.
SVT Västernorrland continues reporting during the day.