- Funds will be used for the development of pioneering decarbonization projects 
in the United States, Chile, and Australia

HIF Global ( 
https://c212.net/c/link/?t=0&l=en&o=3495529-1&h=1720728954&u=https%3A%2F%2Fwww.hifglobal.com%2F&a=HIF+Global 
) , the world leader in eFuels development, secured approximately US$ 260 
million in equity investments to fund the global expansion of its 
decarbonization business. The capital will be used for the development of 
carbon-neutral eFuels projects in the United States, Chile and Australia that 
will supply ships, cars, trucks, and airplanes with renewable energy.

The equity investors include funds managed by globally recognized companies 
Porsche AG, EIG, AME, Baker Hughes, and Gemstone Investments. AME will remain 
the majority shareholder. Dr. Michael Steiner, Executive Board Member of 
Porsche AG, and R. Blair Thomas, EIG's Chairman and CEO, will join HIF Global´s 
Board of Directors.

Cesar Norton, President and CEO of HIF Global, said, "We are very thankful to 
the investors that placed their trust in us. HIF Global is our response to the 
global challenge of climate change and decarbonization, which requires a global 
solution, making our expansion into international markets a crucial part of our 
strategy. Our vision is to capture more than 25 million tons per year of CO2 
from the atmosphere, produce approximately 150,000 barrels per day of eFuels, 
and make more than 5 million cars carbon-neutral."

Meg Gentle, Executive Director of HIF Global, said, "Produced from green 
hydrogen and recycled CO2, eFuels provide a real decarbonization solution for 
cars, ships, and planes that are in use today without any modification to 
existing engines.  Expanding on the success of our pioneering Haru Oni project 
in Magallanes, Chile, we expect to begin construction of HIF's first commercial 
scale eFuels plant in the United States in 2023, followed quickly by similar 
facilities in Chile and Australia in 2024. Together with our strong partners, 
EIG, Porsche, and Baker Hughes, we will transition to a cleaner earth."  

About eFuels

Electricity based fuels, or eFuels, are clean, carbon-neutral fuels produced 
from renewable, green hydrogen and carbon dioxide taken from the atmosphere. 
eFuels have the same chemical properties as fossil-based fuels and, as a 
result, can be used as direct substitutes in existing motors and 
infrastructure. As an example, one version of eFuel is a carbon-neutral 
gasoline substitute that can be used by existing cars and trucks without any 
modifications to the engine. Current gas stations would not need to be altered 
in any way, as consumers could simply pull up to existing pumps and fill their 
tanks. And no changes are necessary to existing infrastructure, either; eFuels 
can be transported around the world like regular fuels are transported today.

About HIF Global

HIF Global is the world leading eFuels company, developing projects to convert 
hydrogen made 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 Chile, HIF USA and HIF 
Australia are wholly owned subsidiaries of HIF Global. HIF Chile is currently 
constructing the Haru Oni Demonstration Plant in Magallanes, Chile. For more 
information, visit: www.hifglobal.com. 

About AME

AME is the fifth largest electricity generator in Chile with an installed 
capacity of clean electricity generation of 865 MW, including Generadora 
Metropolitana and Santiago Solar.  AME is developing a portfolio of projects in 
the construction and permitting stages of more than 1,700 MW, including the 
largest solar project in South America, the 480 MW CEME1 solar plant under 
construction today in the Antofagasta region in the Atacama Desert.  A pioneer 
in the use of solar and wind energy, AME is the founder and majority 
shareholder of HIF Global, which is developing approximately 25,000 MW of 
facilities to produce eFuels from green hydrogen and CO2 captured from the 
atmosphere to decarbonize vehicles in use today worldwide.  Visit: www.ame.cl 
for more information.

About Porsche

Dr. Ing. h.c. F. Porsche AG, with headquarters in Stuttgart-Zuffenhausen, is 
one of the most profitable car makers in the world. In 2021, Porsche delivered 
more than 301,000 vehicles of the 911, 718 Boxster, 718 Cayman, Cayenne, Macan, 
Panamera and Taycan models to customers worldwide. Thereby, the sports car 
manufacturer's operating profit amounted to 5.3 billion euros, up 27 per cent. 
Porsche operates plants in Stuttgart and Leipzig as well as a development 
centre in Weissach. The sports car manufacturer employs 37,000 people. Porsche 
is committed to innovation, many of the technologies have their origins in 
motorsport. Porsche is aware of every aspect of its corporate responsibility: 
economic, environmental and social. By 2030, the company plans to have a 
balance sheet CO2-neutral footprint across the entire value-added chain and the 
life cycle of new vehicles sold. More information at 
https://newsroom.porsche.com/en.html.

About EIG

EIG is a leading institutional investor to the global energy and infrastructure 
sectors with $23.0 billion under management as of December 31, 2021. EIG 
specializes in private investments in energy and energy-related infrastructure 
on a global basis. During its 40-year history, EIG has committed $39.7 billion 
to the energy sector through 379 projects or companies in 38 countries on six 
continents. EIG's clients include many of the leading pension plans, insurance 
companies, endowments, foundations and sovereign wealth funds in the U.S., Asia 
and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, 
London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional 
information, please visit: EIG's website at www.eigpartners.com.

About Baker Hughes

Baker Hughes is an energy technology company that provides solutions for energy 
and industrial customers worldwide. Built on a century of experience and 
conducting business in over 120 countries, our innovative technologies and 
services are taking energy forward – making it safer, cleaner and more 
efficient for people and the planet. Visit: www.bakerhughes.com.

About Gemstone Investments

Gemstone Investments is the family office investment firm founded by Meg Gentle 
to make investments in the energy sector that advance the decarbonization of 
the atmosphere. www.gemstoneinvestments.com 

Contact: Eva Bandola
         bandola@cgcn.com

SOURCE:  HIF Global