Idemitsu Makes $114 Million Investment in HIF Global to Develop eFuels

HIF Global , the world´s leading eFuels company, announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing US$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.

(From the left) Roberto Simon, CFO of HIF Global; Keitaro Sugihara, CEO & President of Idemitsu Americas Holdings Corporation; Clara Bowman, COO of HIF Global; Susumu Nibuya, Representative Director Executive Vice President, Chief Operating Officer of Idemitsu Kosan; Cesar Norton, President & CEO of HIF Global; Hiroshi Tanaka, General Manager of Carbon Neutral Transformation Department of Idemitsu Kosan; Meg Gentle, Executive Director of the Board of HIF Global; Naoki Oi, Vice President of Idemitsu Americas Holdings Corporation; Renato Pereira, CEO of HIF USA © HIF Global

Cesar Norton, President & CEO of HIF Global, said: “We welcome our new partner Idemitsu into this exciting journey to fuel our world with renewable energy. This collaboration represents more than just an investment; it´s a reflection of our shared vision for a greener future. We are very thankful for the support of our shareholders to continue developing a portfolio of eFuels facilities around the world that can recycle approximately 25 million tonnes per year of CO₂, equivalent to the emissions from over 5 million cars.”

Susumu Nibuya, Representative Director, Executive Vice President and Chief Operating Officer of Idemitsu Kosan said: “To achieve carbon neutrality by 2050, we have decided to initially focus our resources on e-methanol, along with blue ammonia and SAF. We are eager to learn from HIF Global, a pioneer in e-methanol with extensive expertise in this field. Together, we aspire to develop a market for e-methanol and synthetic fuels.”

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.