JOGMEC invests in leading e-fuels company HIF Global LLC
In a significant move towards advancing decarbonisation efforts, the Japan Organization for Metals and Energy Security (JOGMEC) has announced an investment of up to USD36 million in HIF Global LLC, a leading e-fuels company. This investment is made in partnership with Idemitsu Kosan Co., Ltd., which is investing USD114 million through its subsidiary, Idemitsu Efuels America Corp.
JOGMEC’s investment, approved on July 10, 2024, adheres to the organisation’s technical, economic, and business-environment criteria and has received the necessary consent from Japan’s Minister of
Founded in December 2021 and headquartered in Houston, Texas, U.S.A., HIF Global LLC, which stands for “Highly Innovative Fuel,” is led by President and CEO Cesar Norton.
HIF Global is renowned for its production of e-fuels, which are liquid fuels synthesised by combining hydrogen from renewable energy sources and carbon dioxide. These e-fuels can seamlessly integrate into existing infrastructure such as storage tanks and pipelines, and be used in engines without modification, making them a viable solution for early decarbonisation. Notably, e-methanol, a type of e-fuel produced by HIF Global, is gaining attention in the shipping industry as a potential replacement for conventional marine fuels, offering a path to significantly reduce greenhouse gas emissions.
HIF Global has been producing e-fuels since December 2022 at the Haru Oni demonstration plant in Magallanes, Chile. The company is now scaling its operations, with commercial projects in development across the United States, Australia, Chile, and Uruguay. HIF Global aims to produce four million tons of e-methanol equivalent annually.
Through this investment, Idemitsu plans to source e-methanol from HIF Global’s facilities, reinforcing its commitment to establishing a green and sustainable supply chain for e-fuels in Japan. JOGMEC’s investment marks a strategic step towards accelerating the establishment of hydrogen supply chains, including e-fuels, supporting Japan’s broader decarbonisation and energy transition objectives.
