Mitsui O.S.K. Lines, Ltd. (MOL) has inked a memorandum of understanding with Idemitsu Kosan Co., Ltd. and HIF USA LLC and HIF Asia Pacific Pty Limited (HIF), subsidiaries of HIF Global, to collaborate on the joint development of a synthetic fuel (e-fuel) / synthetic methanol (e-methanol) supply chain, encompassing CO2 marine transport. This strategic partnership aims to pave the way for a more sustainable future by leveraging renewable energy sources and reducing carbon emissions.
Synthetic fuels and methanol, which are crucial components of this supply chain, are produced through the synthesis of green hydrogen derived from renewable energy sources and CO2. The collaborative effort spans the entire lifecycle of the product, from production to consumption, with a strong emphasis on reducing carbon emissions and facilitating rapid commercialization.
Key areas of focus within this joint development project include:
- CO2 marine transport from Japan to HIF’s overseas synthetic fuels/methanol production plants.
- Establishing a supply chain for transporting synthetic fuels/methanol produced by HIF at overseas production plants back to Japan.
- Ensuring efficient and cost-competitive marine transportation of CO2 and synthetic methanol.
The collaboration between MOL, Idemitsu, and HIF is aimed at spearheading the decarbonization of the energy and transportation sectors while identifying and capitalizing on potential business opportunities.
Each company brings a distinct role to the table:
- MOL will contribute its expertise in international marine transport of synthetic fuels/methanol and CO2.
- Idemitsu Kosan will focus on studying CO2 capture in Japan and its application as a raw material.
- HIF will provide its knowledge on synthetic fuels/methanol and explore effective ways of utilizing CO2.
Idemitsu, in alignment with its 2030 Vision “Your Reliable Partner for a Brighter Future” and 2050 Vision “Shape the Change,” is committed to promoting diverse and environmentally friendly low-carbon energy solutions. As part of this commitment, Idemitsu aims to establish a green supply chain for biomass-derived fuels and chemicals, including synthetic fuels, by 2030.
Meanwhile, HIF Global, a pioneer in synthetic fuels production, is dedicated to developing projects that convert hydrogen produced with low-cost renewable power into carbon-neutral liquid synthetic fuels. With successful demonstrations at the Haru Oni Demonstration Facility in Chile, HIF plans to expand its operations with commercial-scale facilities in the USA and Australia.
Through this collaborative endeavor, MOL, Idemitsu, and HIF are poised to drive innovation in the energy and transportation sectors, fostering a more sustainable and environmentally conscious future.
Source MOL