Mitsui O.S.K. Lines, Ltd. (MOL) has announced its investment in HIF Global LLC, a company developing and operating e-fuel projects.
According to MOL, HIF aims to produce around 4 million tons annually of synthetic fuels and methanol (e-fuels and e-methanol) from green hydrogen and recycled CO2 in the U.S., Chile, Uruguay, and Australia. These fuels are expected to play a key role in reducing the carbon footprint of transportation and various industries.
What are e-fuels?
Electrofuels are advanced gaseous and liquid fuels normally produced from hydrogen and often captured carbon dioxide (CO2) and which use sustainable electricity as the principal power source for the generation of the fuel. The “e” refers to the method of production of the fuel.
With this latest investment, MOL seeks to promote the decarbonization of mobility across sectors, including shipping, where e-methanol is seen as a potential alternative marine fuel.
HIF Global’s future plans also include producing synthetic sustainable aviation fuel (e-SAF) and synthetic chemicals.
