In Texas, HIF Global announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing $164 million to fund its eFuels projects. Idemitsu joins a premier group of existing HIF investors, including AME, EIG, Porsche, Baker Hughes, and Gemstone Investments
The investment by Idemitsu completes the first step in the four-part cooperation previously announced, which included investment, purchase of eFuels, development of the eFuels markets in Japan and creation of CO2 supply chains. The development of the Japanese market for eFuels is accelerating and is supported by Japanese policymakers in the Green Growth Strategy Through Achieving Carbon Neutrality in 2050.
