Houston, June 9th, 2023 - HIF Global, the leading eFuels company, announced its expansion to Uruguay, where it will commence development of an approximately 4 billion USD eFuels project in the city of Paysandú.
The President of Uruguay, Luis Lacalle, yesterday announced HIF Global as the winner of the tender process conducted by the state-owned Ancap group company ALUR to negotiate the purchase of 150,000 tons per year of biogenic carbon dioxide (“C02”), approximately 20% of the total CO> required for the eFuels facility.
President and CEO of HIF Global, Cesar Norton, said, “This is our first step to initiate projects in Uruguay and continue our global fight against climate change. Our focus now will be on the permitting and engineering of the HIF Paysandú eFuels facility, the first plant of its kind in the country. We will use the CO2 supplied by ALUR to unlock additional renewable energy production in Uruguay and convert it into carbon-neutral eFuels, creatinga new industry and contributing to decarbonization of the transportation sector.”
About the HIF Paysandú eFuels facility
eFuels, including eMethanol, are made using electrolyzers powered by renewable energy to separate
hydrogen from oxygen in water. The green hydrogen will be utilized together with biogenic carbon
dioxide to produce carbon neutral eFuels, which are chemically equivalent to fuels used today and can
therefore be dropped-in to existing engines without any modifications required.
The HIF Paysandú eFuels facility is expected to produce over 256 million liters per year of eGasoline by combining 100,000 tons per year of green hydrogen produced at the facility and 710,000 tons per year of captured CO.. Thisis equivalent to decarbonizing more than 150,000 vehicles annually.
HIF estimates the facility will require 1 gigawatt (*GW”) of electrolyzer capacity, 2 GW of renewable electricity, 1,500 jobs during the construction phase and 300 permanentjobs during operations.
About HIF Global
HIF Global is the world's leading eFuels company, developing projects to convert hydrogen using lowcost 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 2024. HIF Global's first
Australian development, in Tasmania, was announced in July 2022. 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, our expectations of our plans, strategies, and objectives,
including with respect to the timing and other aspects of the HIF eFuels 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 forwardlooking 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 eFuels 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 forward-looking 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 notto place undue reliance on forwardlooking 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.
Press contact:
Eva Bandola
bandolaQcgen.com
+1 630 956 1776