April 5, 2023
Energy one step ahead
MOU signed with HIF Global for strategic partnership in e-synthetic fuel sector
Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shunichi Kito, hereinafter referred to as “Idemitsu”) has signed a strategic partnership MOU with HIF Global (hereinafter referred to as "HIF"), a producer of e-fuels in South America, North America, Australia and other regions, to accelerate the production, practical application, and diffusion of e-fuels in Japan.
e-fuels are liquid fuels produced by synthesizing hydrogen from renewable energy sources and atmospheric CO₂. The fuels are attracting attention as an energy source that achieves carbon neutrality (virtually zero CO₂ emissions) throughout the entire product life cycle, from raw material production to product use. They are expected to be socially implemented as an early decarbonization measure because it is possible to utilize existing infrastructures such as storage tanks and pipelines for distribution, and the engines of automobiles, ships, and aircrafts can be used without the need to modify.
So far, Idemitsu has had talks with HIF for early social implementation of e-fuels, and has done activities such as visiting the Haru Oni verification test facility located in the south region of Chile, Magallanes. In order to further accelerate the discussion through the signing of the MOU, Idemitsu will jointly consider the following items with HIF.
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Procurement and domestic supply of e-fuels from overseas projects
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Joint investment in e-fuels production facilities in Japan and overseas
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International transportation and utilization of CO₂ collected in Japan (conversion into raw materials)
Schematic Illustration of Future Collaboration
Schematic Illustration of Future Collaboration
Schematic Illustration of Future Collaboration
At the same time, we will obtain samples of e-gasoline produced by HIF to confirm factors such as its environmental impact and performance for the practical application and diffusion in Japan. In addition, we will also move ahead with considerations into the production of e-fuels at the Group's refineries and complexes, aiming to establish a system for the production and supply of e-fuels in Japan by the late 2020's.
当社は2022年11月に発表した「中期経営計画（2023～2025年度） 」において、下記3つの事業領域の社会実装を通じ、事業ポートフォリオ転換を推進することを表明しました。
This initiative is positioned as an effort to develop and socially implement "Energy one step ahead" and "Diverse resource conservation / resource recycling solutions" among the three business domains that Idemitsu has identified to realize a carbon-neutral society in 2050. Idemitsu will contribute to the realization of a carbon-neutral society by promoting the practical application and diffusion of e-fuels.
■About HIF
HIF Global is the world’s leading eFuels company, developing projects to convert hydrogen using low cost renewable power into carbon neutral liquid eFuels that can be transported and utilized in existing infrastructure. The name HIF represents the mission of the company: to provide Highly Innovative Fuels to make decarbonization of the planet possible. HIF Chile, HIF USA, HIF Asia Pacific, and HIF EMEA are wholly owned subsidiaries of HIF Global. HIF Global started producing the first liters of synthetic Fuels from the Haru Oni Demonstration Facility in Magallanes, Chile in December 2022 and intends to begin construction of the commercial scale HIF Matagorda eFuels Facility in Texas in 1Q2024. HIF Global’s first Australian development, in Tasmania, was announced in July 2022. For more information, visit www.hifglobal.com
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MOU signing ceremony with HIF -
e-fuel produced by HIF
Regarding news release
contact information
Idemitsu Kosan Co.,Ltd. Public Relations Department, Public Relations Division