Funds will be used for the development of pioneering decarbonization projects in the United States, Chile, and Australia
PVTIME – HIF Global, the world leader in eFuels development, secured approximately US$ 260 million in equity investments to fund the global
expansion of its decarbonization business. The capital will be used for the development of carbonneutral eFuels projects in the United States, Chile and Australia that will supply ships, cars, trucks, and airplanes with renewable energy.
The equity investors include funds managed by globally recognized companies Porsche AG, EIG, AME, Baker Hughes, and Gemstone Investments. AME will remain the majority shareholder. Dr. Michael Steiner, Executive Board Member of Porsche AG, and R. Blair Thomas, EIG’s Chairman and CEO, will join HIF Global´s Board of Directors.
César Norton, President and CEO of HIF Global, said, “We are very thankful to the investors that placed their trust in us. HIF Global is our response to the global challenge of climate change and decarbonization, which requires a global solution, making our expansion into international markets a crucial part of our strategy. Our vision is to capture more than 25 million tons per year of CO2 from the atmosphere, produce approximately 150,000 barrels per day of eFuels, and make more than 5 million cars carbon-neutral.”
Meg Gentle, Executive Director of HIF Global, said, “Produced from green hydrogen and recycled CO2, eFuels provide a real decarbonization solution for cars, ships, and planes that are in use today without any modification to existing engines. Expanding on the success of our pioneering Haru Oni project in Magallanes, Chile, we expect to begin construction of HIF’s first commercial scale eFuels plant in the United States in 2023, followed quickly by similar facilities in Chile and Australia in 2024. Together with our strong partners, EIG, Porsche, and Baker Hughes, we will transition to a cleaner