HIF Global, a leader in the eFuels industry, has announced a significant funding boost of US$164 million, with contributions from both existing shareholders and new investor Idemitsu Kosan, a major Japanese energy company. This financial infusion will support HIF Global’s international portfolio of eFuels facilities, which aim to recycle around 25 million tonnes of CO2 annually—equivalent to the emissions from over 5 million vehicles.
Cesar Norton, President & CEO of HIF Global, expressed gratitude for the investment, noting, “We welcome our new partner Idemitsu into this exciting journey to power our world with renewable energy. This collaboration is more than an investment; it reflects our shared commitment to a greener future.”
Susumu Nibuya, Executive Vice President and COO of Idemitsu Kosan, emphasized the strategic focus on e-methanol, blue ammonia, and Sustainable Aviation Fuel (SAF) to achieve carbon neutrality by 2050. “We are eager to learn from HIF Global, a pioneer in e-methanol with extensive expertise. Together, we aspire to develop a market for e-methanol and synthetic fuels,” said Nibuya.
The partnership also marks the completion of the first phase of a four-part cooperation plan, which includes investment, purchase of eFuels, development of the eFuels markets in Japan, and creation of CO2 supply chains. This initiative is gaining momentum with the support of Japanese policymakers and the Green Growth Strategy, aimed at achieving carbon neutrality by 2050.
