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Funding
HIF Global raises USD 164 million in corporate funding
Carbon Capture, Utilization & Storage (CCUS)
May 13, 2024
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Carbon Capture, Utilization & Storage (CCUS)

Carbon Capture, Utilization & Storage (CCUS)

May 13, 2024

HIF Global raises USD 164 million in corporate funding

Funding

  • HIF Global, a provider of sustainable e-fuels, has raised a total investment of USD 164 million led by Idemitsu Kosan, a Japanese energy company, and its existing shareholders. Existing investors include AME, EIG, Porsche, Baker Hughes, and Gemstone Investments. This brings the company's total funding to USD 424 million.

  • The investment, led by Idemitsu, completes the first step of the four-part collaboration announced in April 2023 . This includes investment, purchase of e-fuels, development of e-fuels markets in Japan, and creation of CO2 supply chains.

  • The funds raised will be used to expand the development of HIF Global's e-fuel projects in several locations, including the US, Australia, Chile, and Uruguay. The company is already producing e-fuels at its Haru Oni eFuels facility in Magallanes, Chile, and plans to begin construction of the HIF Matagorda eFuels facility in Texas in late 2024.

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