Sydney, December 18, 2023 – HIF Global, the world´s leading eFuels company, today announces the appointment of Societe Generale, Sydney Branch as financial advisor for the HIF Tasmania eFuels Facility.
The project will be located on a sustainably certified plantation 30km south of Burnie in the state’s North-West and is on track to enter production in 2028. Carbon neutral eFuel can be used in existing car, truck, aircraft or ship engines without modification.
Ignacio Hernandez, HIF Asia Pacific’s CEO, said: “HIF’s developments in South America and the USA are already benefiting from Societe Generale’s expertise so we are extremely pleased to be expanding this relationship to encompass our Tasmanian project. We are making excellent progress towards securing the biomass, water and power that we need and engineering design is well underway. Discussions with potential offtakers are at an advanced stage so this is the ideal time to appoint a key advisor to help us drive towards financial close in 2025 and establish Australia’s position at the forefront of a new and low carbon global industry.”
Ben Arnott, Head of Energy+ Group, Australia for Societe Generale, said: “We are delighted to expand our global relationship with HIF and support this major eFuels project in Tasmania. It aligns perfectly with Societe Generale’s desire to be at the forefront of the energy transition, and we look forward to working with the HIF Asia Pacific team to arrange the necessary financing to bring this exciting project to fruition.”
Societe Generale is a top tier European bank with 117,000 employees serving 25 million clients in more than 60 countries across the world. It has been present and active in Australia since 1981. Operating from its Sydney branch, it serves clients by providing financial and advisory solutions as well as global markets solutions.
eFuels are made using electrolyzers powered by renewable energy to separate hydrogen from oxygen in water. The green hydrogen is combined with recycled 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.
About HIF Global
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 Latam, HIF USA, HIF Asia Pacific, and HIF EMEA are wholly owned subsidiaries of HIF Global. HIF Global is already producing eFuels in its Haru Oni eFuels Facility in Magallanes, Chile 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 forwardlooking 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 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 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 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.
Contact:
Ian Lawrence
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+61 459 182 366