Mitsui O.S.K. Lines Ltd. announced that, through its wholly-owned subsidiary MOL Clean Energy, US. LLC, it decided to invest in HIF Global LLC, a company developing and operating eFuels projects globally.

HIF has a production target of about 4 MMtpy of synthetic fuel (eFuel) and synthetic methanol (eMethanol) from green H₂ derived from renewable energy sources and recycled CO₂ in four countries: the U.S., Chile, Uruguay, and Australia. eFuels and eMethanol are expected to achieve swift and broad application as they can make immediate and significant contributions to reducing the carbon footprint of the entire product lifecycle, from production through use of the product.

HIF Global will start with the production of eGasoline and eMethanol and is targeting the future production of synthetic sustainable aviation fuel (eSAF) and synthetic chemicals. eMethanol is also expected to be adopted as an alternative marine fuel that will contribute to the decarbonization of the shipping industry.

In March, MOL reached an agreement on the joint development of a supply chain for eFuels and eMethanol and signed a memorandum of understanding (MoU) with Idemitsu Kosan Co., Ltd., HIF USA LLC, a subsidiary of HIF Global, and HIF Asia Pacific Pty Limited. With this investment in HIF Global, MOL will further promote the establishment of a supply chain for eFuels and CO₂, setting the stage to decarbonize all types of mobility.