HIF Global, the global e-fuels company, has taken an investment from Japanese shipping magnate Mitsui O.S.K. Lines, according to a news release.
The $220m investment will finance the expansion of its e-fuels projects in the USA, Australia, Chile, and Uruguay. MOL is the third Japanese entity to invest in HIF Global this year, following Idemitsu Kosan and the Japan Organization for Metals and Energy Security.
“The HIF – Japanese partnership now represents a value chain of collective capabilities, where HIF produces e-Fuels, MOL transports fuel cargoes to market centers, and Idemitsu provides further handling in ports and refineries,” the release states.
MOL joins HIF Global’s existing investor portfolio, which also includes AME, EIG, Porsche, Baker Hughes, and Gemstone Investments.
Cesar Norton, President and CEO of HIF Global: “As one of the largest shipping companies, MOL is pivotal to the global accessibility of e-Methanol. We welcome MOL to the HIF partnership as we build a strategic value chain delivery capability that supplies decarbonization and a greener future from low cost production areas to market centers worldwide. Together we develop the capability to produce e-Fuels and deliver them to our customers on MOL’s fleet of carriers” MOL aims to contribute to the building of e-Fuels supply chain together with strategic partners towards reducing emissions and the sustainable society.”
