Ørsted’s Board of Directors has taken final investment decision (FID) on the 50,000 tonnes/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.