HIF Global and Empresas GASCO announce first carbon-neutral liquefied gas in the world

First liquefied gas produced with renewable energy, operating at HIF Global's eFuels facility in southern Chile "Haru Oni"

eLG will be used by the Chilean company GASCO for different energy solutions

PUNTA ARENAS, Chile, Oct. 6, 2023 /PRNewswire/ -- HIF Global, the world´s leading eFuels company, and the Chilean gas company Empresas GASCO, today announced the first production of carbon-neutral liquefied gas ("eLG") generated with renewable energy from the strong winds of the Magallanes Region, at the Haru Oni eFuels facility in southern Chile.

The project involved an R&D investment of $3 million from GASCO and is part of the agreement signed in 2021 between both companies to promote a more sustainable gas that can be used, stored, and transported as conventional liquefied gas, without modifications required to infrastructure, capacity or equipment.

"Throughout more than 167 years, Empresas GASCO has been a protagonist of the main energy transformations in Chile. Participating in the production of the first carbon-neutral liquefied gas in the world is a new demonstration of our company's commitment to the development of innovative technologies and solutions that contribute significantly to the transition towards carbon neutrality," said the company's President, Matias Perez.

President and CEO of HIF Global, Cesar Norton, said "Today we celebrate a substantial milestone for the hydrogen derivatives industry, allowing us to continue to show a portfolio of alternatives to decarbonize our planet and reduce the reliability of fossil fuels. Empresas GASCO has been a great ally in achieving this goal, as we need to strongly promote innovation and development to efficiently address the urgency of climate change".

About eLG

eLG is a carbon-neutral liquefied gas that originates as a by-product of the synthetic gasoline production process at HIF's Haru Oni eFuels facility, during the conversion of eMethanol to eGasoline, using MtG (Methanol-to-Gasoline) technology.

The technology launched today allows eLG to be captured and stored. To be commercialized, eLG must be blended with traditional liquefied gas, in a proportion of eLG estimated to be between 10% and 30% of the total content. Its use is wide and diverse, and it can be applied in the different gas-based energy solutions offered by GASCO, which, in a first stage, is expected to reach a production of ~10,000 cylinders.

GASCO has performed, and will continue to perform, analyses and tests to certify the safety of the eLG's use and comply with existing regulations.  The eLG is expected to be applied in the future in the various GASCO formats and energy applications.

eFuels Laboratory

In addition, HIF Global and GASCO, together with the University of Magallanes, developed the first eFuels laboratory, located in the city of Punta Arenas.

This laboratory not only provides services for the Haru Oni eFuels facility but also strengthens the connection that both companies have with the academic community of Magallanes, to create knowledge and human capital that helps position the region as a leading player in Chile and globally in the fight against climate change.

About GASCO

Empresas GASCO S.A. is a corporation with more than 167 years of history, which, through its various subsidiaries and business lines, will continue to promote and develop energy solutions that enable different industries to have more efficient, safer and less polluting processes. More information at www.empresasgasco.com 

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 Demonstration 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 forward-looking statements and convey the uncertainty of future events or outcomes. Forward-looking statements in this press release relate to, among other things, the 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.

SOURCE HIF Global