Japan’s Mitsui O.S.K. Lines, through its subsidiary MOL Clean Energy, has invested in Houston-based e-fuel developer HIF Global.
HIF Global is aiming to produce around 4 million tonnes of synthetic fuel (e-fuel) and synthetic methanol (e-methanol) annually. It will manufacture the fuels from renewable energy sources and recycled CO2 derived from four countries: Australia, Chile, Uruguay, and the USA.
Across both production and its use, e-fuels and e-methanol are projected to have immediate and broad application as they can make instant and substantial contributions to reducing carbon footprint. HIF Global said it would start with the production of e-gasoline and e-methanol and is targeting the future production of synthetic sustainable aviation fuel, and synthetic chemicals.
In March 2024, MOL reached an agreement on the joint development of a supply chain for e-fuels and e-methanol and signed a memorandum of understanding (MoU) with Idemitsu Kosan, HIF USA and HIF Asia.
HLPFI reported in June 2024 that MOL had become a larger partner in the shipping industry’s G2 Ocean. More recently – in July 2024 – the company agreed to purchase a 25 percent stake in Tanzania’s Alistair Group.
