HIF Global, a leading company in the eFuels industry, recently announced an investment of US$164 million from existing shareholders and the Japanese energy company Idemitsu Kosan. This partnership includes esteemed investors such as AME, EIG, Porsche, Baker Hughes, and Gemstone Investments. Idemitsu’s investment marks the completion of the first phase of a four-part collaboration that was previously announced, focusing on investment, eFuels procurement, market development in Japan, and establishing CO2 supply chains.
Cesar Norton, President & CEO of HIF Global, said: “We welcome our new partner Idemitsu into this exciting journey to fuel our world with renewable energy. This collaboration represents more than just an investment; it’s a reflection of our shared vision for a greener future. We are very thankful for the support of our shareholders to continue developing a portfolio of eFuels facilities around the world that can recycle approximately 25 million tonnes per year of CO2, equivalent to the emissions from over 5 million cars.”
The eFuels market in Japan is rapidly evolving and is receiving support from the country’s policymakers who are working towards achieving carbon neutrality by 2050 through the Green Growth Strategy.
Susumu Nibuya, Representative Director, Executive Vice President and Chief Operating Officer of Idemitsu Kosan added: “To achieve carbon neutrality by 2050, we have decided to initially focus our resources on e-methanol, along with blue ammonia and SAF. We are eager to learn from HIF Global, a pioneer in e-methanol with extensive expertise in this field. Together, we aspire to develop a market for e-methanol and synthetic fuels.”
