Idemitsu Kosan Co., Ltd.
Invested in HIF Global to build a supply network for synthetic methanol (e-methanol)
First investment as a Japanese company to promote synthetic methanol (e-methanol) business
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Idemitsu Kosan Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo, President and CEO: Shunichi Kito, hereinafter referred to as the “Company”) is a manufacturer of synthetic fuel (e-fuel) and synthetic methanol (hereinafter referred to as “e-fuel”) in South America, North America, Australia, etc. We will invest (investment amount: 114 million USD) in HIF Global (Headquarters: Texas, USA, hereinafter referred to as “HIF”), which is developing a project for “methanol”). This is the first investment by a Japanese company in HIF. Through this
investment, we will promote the construction of supply chains in Japan and overseas for e-methanol, which is highly versatile as a synthetic fuel, carbon-neutral fuel, and its raw material, and contribute to a carbon-neutral society.
[Image 1: https://prtimes.jp/i/23740/466/resize/d23740-466-dc1d819fbde7ad836afd-0.jpg&s3=23740-466-ece692dac02b42814db7bc88a3de8110-2048×1366.jpg] Photos from the investment ceremony with HIF
Our company is focusing on investing in e-methanol along with blue ammonia and SAF* in order to realize a carbon-neutral society by 2050. E-methanol, which is produced by synthesizing CO2 recovered from the atmosphere and hydrogen derived from renewable energy, can be used directly as a marine fuel, a demand for which is expected to continue to grow. Furthermore, it is possible to selectively produce synthetic fuels such as synthetic gasoline, synthetic diesel, and synthetic SAF, as well as synthetic chemicals. Based on these points, we position e-methanol as a strategically important product.
HIF is developing new energy businesses, including e-methanol, on a large scale and at multiple locations in South America, North America, and Australia, and aims to produce approximately 4 million tons of e-methanol in the future. We are anticipating this. In 2023, we concluded an MOU with HIF regarding a strategic partnership in the field of synthetic fuels, and since then we have begun joint studies on e-methanol and other initiatives aimed at early social
implementation of e-methanol and synthetic fuels. We have made progress.
This time, we will invest in HIF and promote the production and development of e-methanol and synthetic fuel at our overseas bases. In addition to dispatching directors to HIF, we will also dispatch human resources in the fields of marketing and project development to provide cutting-edge support for development and management of HIF’s e-methanol and synthetic fuel production projects. Gain knowledge and know-how.
Furthermore, by leveraging our existing supply and sales network in the fuel oil business, we will quickly form and introduce a market for the e-methanol business, aiming for a scale of 500,000 tons at domestic and overseas bases in 2035. We aim to build an e-methanol supply system in the future.
[Image 2: https://prtimes.jp/i/23740/466/resize/d23740-466-2c4ede3cd4133298db3e-1.png&s3=23740-466-a7219f39c236edb65683792a8ab8105d-835×304.png ]
Image diagram of e-methanol supply chain
*Sustainable Aviation Fuel ■About HIF
HIF Global is one of the world’s leading companies driving projects that convert hydrogen into synthetic fuels that can be transported and used using existing infrastructure, based on low-cost renewable energy. The company name HIF represents the company’s philosophy of “providing highly innovative fuels that enable the decarbonization of the planet,” and the company operates globally. In December 2022, we successfully produced the first synthetic fuel from the Haru Oni demonstration plant in Magallanes, Chile. Future plans include construction of commercial-scale plants in Matagorda, Texas, USA, Tasmania, Australia, Paysandú, Uruguay, and Magallanes, Chile. Name: HIF Global LLC
Address: 711 Louisiana Street, Suite 1100 Houston, Texas 77002 Representative: Cesar Norton, President & CEO
URL: https://hifglobal.com/
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