MOL Invests in HIF Global: Boosting E-Fuel Projects Worldwide
Key Ideas
  • HIF Global secures a $220m investment from Mitsui O.S.K Lines, bringing its total backing to $220m in 2024.
  • The investment will be used to expand e-fuel projects in the US, Australia, Chile, and Uruguay.
  • Mitsui O.S.K Lines aims to contribute to building an e-fuel supply chain with strategic partners, emphasizing global accessibility and decarbonization.
  • Previous partnerships and agreements indicate a growing focus on developing overseas supply chains and commercial exports of hydrogen-based e-fuels.
Hydrogen-based e-fuel developer HIF Global has received a substantial investment of $220m from Mitsui O.S.K Lines (MOL) through its subsidiary MOL Clean Energy. This investment, along with support from other Japanese investors, will facilitate the expansion of e-fuel projects in multiple countries. HIF Global plans to utilize the funding to enhance its projects in the US, Australia, Chile, and Uruguay. The partnership with MOL is expected to play a crucial role in establishing an e-fuel supply chain to promote decarbonization and a greener future globally. The collaboration also focuses on developing overseas supply chains and commercial exports of green hydrogen-based e-fuels. The initiative includes shipping captured CO2 from Japan to project sites, demonstrating a commitment to sustainable practices. HIF Global's successful commercial export of hydrogen-based e-fuels from Chile to the UK highlights progress in the adoption of green technologies in the transportation sector. The investment and partnerships signify a positive step towards achieving environmental sustainability and advancing the energy transition.
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