MOL backs HIF Global on worldwide e-Fuel rollout

In Chile, HIF Global announced a strategic investment by Mitsui O.S.K. Lines to support the expansion of e-Fuels projects in the United States, Australia, Chile, and Uruguay. The amount of the investment by MOL was not disclosed.

MOL’s investment is part of HIF Global’s $220 million equity funding raised in 2024. The collaboration adds to HIF’s partnerships with other key players, including Japanese energy company Idemitsu Kosan and the Japan Organization for Metals and Energy Security. The collective efforts aim to establish a complete value chain, from e-Fuels production to transportation and handling at ports.

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 decarbonization and a greener future from low cost production areas to market centers worldwide.”

e-Fuels, made by combining hydrogen from renewable energy with recycled CO2, are carbon-neutral alternatives to traditional fuels. They can be used in existing engines without modification, offering a sustainable solution for industries like shipping, aviation, and road transport.

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