HIF Global, Idemitsu Kosan and MOL co-operate to develop eFuels supply chain
HIF Global, the world´s leading eFuels company, Idemitsu Kosan, the Japanese petroleum company and Mitsui O.S.K. Lines, Ltd., the international shipping company, today announce an agreement to develop an eFuels supply chain between HIF facilities and Japan.
The agreement also outlines how the companies will explore the potential for supplying carbon dioxide ("CO2") from Japan for use as a feedstock for the eFuels production process in HIF facilities under development in the USA, Australia and Chile.
HIF Global will assess demand for CO2 in its eFuels production facilities around the world. Idemitsu will study the capture of CO2 in Japan. MOL will examine the transportation and shipping of CO2 from Japan and eFuels to Japan.
Cesar Norton, President & CEO of HIF Global, said: "At HIF Global, we are developing a portfolio of eFuels facilities that would recycle approximately 25 million tonnes per year of CO2, equivalent to the emissions from over 5 million cars. Carbon neutral eFuels are an immediate replacement for fossil fuels across the global transport sector. Initiatives like this collaboration will bring us a step closer to fueling our world with renewable energy as we strive towards net zero emissions now."
Hiroshi Tanaka, General Manager (Carbon Neutral Transformation Department) of Idemitsu Kosan said: "As part of our commitment to sustainability, Idemitsu is actively working towards establishing a robust supply chain for eMethanol and eFuels. We recognize the importance of these low environmental impact alternatives in our business and their versatility. Through strategic collaborations such as this, we are confident in our ability to take a leading role in reducing carbon emissions in both the energy and transportation sectors. Additionally, we see tremendous potential in the development of various business opportunities within the supply chain. We look forward to exploring and capitalizing on these opportunities together."
Hirofumi Kuwata, Senior Managing Executive Officer of MOL, said: "Mitsui O.S.K. Lines is pleased to be working with HIF Global and Idemitsu Kosan to develop a value chain for CO2, synthetic fuel, and synthetic methanol, contributing to decarbonization throughout the lifecycle. We will establish efficient maritime transport of CO2, synthetic methanol, and synthetic fuel within the supply chain connecting Japanese and overseas projects."
The parties will also discuss the sale and purchase of eFuels and analyze the resulting greenhouse gas emissions reduction.
eFuels are made using electrolyzers powered by renewable energy to separate hydrogen from oxygen in water. The green hydrogen is combined with recycled carbon dioxide to produce carbon neutral eFuels, which are chemically equivalent to fuels used today and can therefore be dropped-in to existing engines without requiring any modifications.
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