Agreement paves the way for e-Fuels, made from renewable
electricity, water, and recycled carbon dioxide, to reduce net
CO2 emissions in the aviation sector
FARNBOROUGH, UK,
July 23,
2024 /PRNewswire/ -- HIF Global has
announced the signing of a Memorandum of Understanding with Airbus
to advance the global development of e-Fuels for aviation
("e-Sustainable Aviation Fuel" or "e-SAF") via the methanol to jet
fuel ("MTJ") pathway. The MoU provides a framework for negotiation
of definitive agreements in relation to four key workstreams:
technical, project development, commercial and advocacy.
The collaboration was signed at the Farnborough Air Show in
England, one of the most
prestigious global aerospace, aviation and defense industry
fairs.
Clara Bowman, Chief Operating
Officer of HIF Global, said, "The International Energy Agency
projects that aviation activity will double from 2022 levels by
20301. We are therefore in a global race to supply and
scale up sustainable fuels to aviation, the hardest to abate of all
the transportation sectors. Collaboration between HIF and Airbus
will help accelerate the airline sector's adoption of e-SAF and
facilitate the industry's transition to net zero."
e-SAF is a type of Sustainable Aviation Fuel made by combining
recycled CO₂ and green hydrogen produced with renewable
electricity. e-SAF is a drop-in fuel which can be used in existing
airplanes without any modifications to their engines. HIF Global is
designing e-SAF production facilities based on methanol to jet fuel
synthesis, also called the MtJ pathway.
In May 2023, HIF Global announced
agreements with Johnson Matthey and
Honeywell UOP to conduct preliminary engineering for HIF's first
Sustainable Aviation Fuel facility in the United States.
About HIF Global
HIF Global is the world's leading e-Fuels company, developing
projects worldwide to convert renewable energy into near carbon
neutral e-Fuels that can be utilized in existing engines. The name
HIF represents the mission of the company: to provide Highly
Innovative Fuels to make decarbonization of the planet possible.
HIF is producing e-Fuels today at its HIF Haru Oni e-Fuels facility
in southern Chile and is
developing commercial-scale e-Fuels facilities in Texas, Uruguay, Australia, and Chile. For more information, visit
www.hifglobal.com
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
Information in this press release includes various statements
that are forward-looking statements within the meaning of the U.S.
federal securities laws. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking
statements. Words such as "can," "expect," potential," "to be,"
"will," and similar expressions are used to identify
forward-looking statements and convey the uncertainty of future
events or outcomes. Forward-looking statements in this press
release relate to, among other things, the expectations of our
plans, strategies, and objectives, including with respect to the
timing and other aspects of the HIF e-Fuels facilities. Such
statements are based on management's current expectations and
assumptions and are subject to known and unknown risks and
uncertainties that may cause actual results or events to differ
materially from expectations expressed or implied in the
forward-looking statements. Factors that could cause actual results
or events to differ materially from those described in the
forward-looking statements include (without limitation): our
ability to timely obtain or maintain necessary permits to construct
and develop the HIF e-Fuels facilities; our ability to execute
operational objectives on a timely and successful basis;
legislative, policy, fiscal and regulatory developments; the
outcome of commercial negotiations; our ability to raise
financing; consumer preferences or demand; and various
economic, business, and competitive factors affecting our business.
All forwardlooking statements contained in this press release
are expressly qualified in their entirety by the cautionary
statements contained or referred to in this paragraph. HIF Global
urges you to carefully review and consider the cautionary
statements made in this press release and cautions you not to place
undue reliance on forward-looking statements, which speak only as
of the date of this press release. HIF Global undertakes no
obligation (and expressly disclaims any such obligation) to update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
1 The Role of E-fuels in Decarbonising
Transport, (2024), International Energy Agency
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SOURCE HIF Global