Tokyo, Japan— Mitsui O.S.K. Lines, Ltd. (MOL) has announced a strategic investment in HIF Global LLC, a U.S.-based company focusing on the development and operation of e-Fuels projects worldwide. The move, executed through MOL’s wholly-owned subsidiary, MOL Clean Energy, US LLC, marks a significant step toward the decarbonization of the global mobility industry.
HIF Global, headquartered in Houston, Texas, is at the forefront of producing synthetic fuels (e-Fuels) and synthetic methanol (e-Methanol) from green hydrogen and recycled CO2. These clean energy solutions are derived from renewable energy sources, enabling a closed carbon loop that can drastically reduce the overall carbon footprint. HIF has set an ambitious production target of 4 million tons per year, spanning projects across four countries: the U.S., Chile, Uruguay, and Australia.
Why does this matter? Well, synthetic fuels like e-Gasoline and e-Methanol are expected to make a swift and meaningful impact in decarbonizing not just the shipping industry, but the entire mobility sector. As these products can be utilized in existing combustion engines, they offer an immediate solution to reducing emissions without the need for entirely new infrastructure. Moreover, the potential for e-Methanol as a marine fuel is highly anticipated, particularly for the shipping industry, which has been under increasing pressure to meet global carbon reduction targets.
The investment builds on MOL’s existing commitments to clean energy solutions. Earlier this year, MOL signed a memorandum of understanding (MoU) with Idemitsu Kosan Co., Ltd., HIF USA LLC, and HIF Asia Pacific Pty Limited, aimed at co-developing a supply chain for e-Fuels and e-Methanol. This latest financial commitment to HIF further cements MOL’s role in facilitating a supply chain that can deliver synthetic fuels globally.
HIF Global’s executive team, including CEO Cesar Norton and HIF USA Chief Executive Officer Renato Pereira, welcomed MOL members to their Houston office, underscoring the collaborative spirit between the two companies. According to MOL’s General Manager of Carbon Solution Business Development, Daisuke Fujihashi, this partnership signals a clear push toward a more sustainable future for all forms of mobility, from road transport to aviation and marine sectors.
HIF’s future plans are also worth noting. In addition to e-Gasoline and e-Methanol, the company aims to expand into synthetic sustainable aviation fuel (e-SAF) and synthetic chemicals. This could have far-reaching implications not only for maritime industries but also for aviation, one of the most challenging sectors to decarbonize.
For MOL, the investment in HIF is more than a financial transaction; it’s a strategic step toward establishing a resilient supply chain for synthetic fuels. As global industries face mounting pressure to transition toward cleaner energy, MOL’s involvement with HIF could play a pivotal role in shaping the future of decarbonized mobility.
HIF Global is the world’s leading e-Fuels company, developing projects to convert hydrogen produced with low-cost
renewable power into carbon-neutral liquid synthetic fuels that can be transported and utilized in existing infrastructure.
The name HIF represents the mission of the company: to provide “Highly Innovative Fuels” to make decarbonization of the planet possible. HIF Chile, HIF USA, HIF Asia Pacific, and HIF EMEA are wholly owned subsidiaries of HIF Global. Having
successfully produced its first e-Fuel from the Haru Oni Demonstration Facility in Magallanes, Chile, in December 2022, HIF plans to construct commercial-scale plants in Matagorda, Texas, U.S.; Magallanes, Chile; Paysandu, Uruguay, and Tasmania,
Australia