Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that, through its wholly-owned subsidiary MOL Clean Energy, US. LLC, it decided to invest in HIF Global LLC (HIF; CEO: Cesar Norton, Headquarters: Houston, Texas, U.S.), a company developing and operating e-Fuels projects globally.
MOL members visited HIF USA office
(Second from left in the front row: Mr. Daisuke Fujihashi, MOL General Manager of Carbon Solution Business Development Unit. Fourth from right in the front row: Ms. Meg Gentle, HIF Global Executive Director of the Board. Third from right in the front row: Mr. Renato Pereira, HIF USA Chief Executive Officer)
HIF has a production target of about 4 million tons per year (Note 1) of synthetic fuel (e-fuel) and synthetic methanol (e-methanol) from green hydrogen derived from renewable energy sources and recycled CO2 in four countries: the U.S., Chile, Uruguay, and Australia. e-Fuels and e-Methanol are expected to achieve swift and broad application as they can make immediate and significant contributions to reducing the carbon footprint of the entire product life cycle, from production through use of the product. HIF Global will start with the production of e-Gasoline and e-Methanol, and is targeting the future production of synthetic sustainable aviation fuel (e-SAF) and synthetic chemicals. e-Methanol is also expected to be adopted as an alternative marine fuel that will contribute to the decarbonization of the shipping industry.
In March, MOL reached an agreement on the joint development of a supply chain for e-Fuels and e-Methanol, and signed a memorandum of understanding (MoU) with Idemitsu Kosan Co., Ltd., HIF USA LLC, a subsidiary of HIF Global, and HIF Asia Pacific Pty Limited (Note 2). With this investment in HIF Global, MOL will further promote the establishment of a supply chain for e-Fuels and CO2, setting the stage to decarbonize all types of mobility.
