HIF Global, a world leader in eFuels development, announced it has 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. HIF’s Haru Oni green hydrogen plant in the Magallanes region of Chile – the largest facility of its type in Latin America and one of the first worldwide – began construction in 2021 and is expected to begin producing eFuels later this year.
Latham & Watkins LLP represents HIF Global in the transaction with a deal team led by partner Tony Del Pino, with associates Jason Schnier, Maria Pilar Villanueva, and Francisco Lanusse. Advice was also provided on finance matters by partner David Penna, with associate Costanza Garcia, and on tax matters by partner Enrique Rene de Vera.