At COP28, Ørsted announced that the EU-Catalyst Partnership, which consists of the European Commission, Breakthrough Energy Catalyst, and the European Investment Bank (EIB) Bank, has vowed to support Ørsted’s FlagshipONE project, Europe’s largest e-methanol plant for shipping. Breakthrough Energy Catalyst will acquire a 15 % equity interest in FlagshipONE and provide a grant to the project, subject to the fulfilment of funding conditions. FlagshipONE is expected to produce up to 55,000 tonnes of e-methanol each year and is located on the grounds of the Swedish biomass-fired combined heat and power plant ‘Hörneborgsverket’ in Örnsköldsvik, operated by Övik Energi. The e-methanol from FlagshipONE will be produced using renewable energy, which is almost exclusively the electricity source in this part of Sweden, and biogenic carbon dioxide captured from Hörneborgsverket. In addition, FlagshipONE will use steam, process water, and cooling water from Hörneborgsverket, and excess heat from the e-methanol production process will be delivered back to Övik Energi and integrated into their district heating supply. https://lnkd.in/ebcbzMiF