Japan’s largest shipowner, Mitsui OSK Lines (MOL), is investing in Houston-based e-fuels developer HIF Global.
HIF has a production target of about 4m tons per year of synthetic fuel (e-fuel) and synthetic methanol (e-methanol) from green hydrogen derived from renewable energy sources and recycled CO2 in four countries: the US, Chile, Uruguay, and Australia.
In March, MOL reached an agreement on the joint development of a supply chain for e-fuels and e-methanol, and signed a memorandum of understanding with Idemitsu Kosan and HIF. Like MOL, Idemitsu Kosan subsequently also invested in HIF.
Cesar Norton, president and CEO of HIF Global, said: “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 decarbonisation and a greener future from low cost production areas to market centres worldwide.”
