HIF Global begins approval process for its first carbon neutral eFuels manufacturing facility in Australia

Located in Tasmania, the facility plans to produce up to 100 million litres per year of carbon neutral eFuels

SYDNEY, July 8, 2022 /PRNewswire/ -- HIF Global, the world's leading eFuels company, announced today that it has begun the development of Australia's first large-scale, carbon-neutral eFuels production facility in Tasmania. HIF Asia Pacific, a wholly owned subsidiary of HIF Global, filed a Notice of Intent (NoI) with the Tasmanian Environment Protection Authority (EPA) seeking approval for the facility, which will be located in north-west Tasmania.

Cesar Norton, President and CEO of HIF Global, said, "Our global plan is to produce over 8 billion liters a year of carbon neutral eFuels - enough to decarbonise 5 million vehicles. Australia represents our third decarbonisation hub around the world. Australia has exceptional renewable energy resources that can be transformed into liquid fuels and used in existing engines. Today, we begin the first step in Tasmania to produce hydrogen from renewable energy, capture carbon dioxide from a biogenic source and produce highly competitive eFuels that will be the carbon-neutral energy of tomorrow."

HIF Asia Pacific CEO Ignacio Hernandez explained, "At full operations, the HIF Tasmania facility is expected to produce up to 100 million litres per year of carbon neutral eFuels, reducing global CO₂ emissions by approximately 260,000 tons per year, the equivalent of decarbonising 52,000 cars on the road today. We expect to begin construction in 2024, prioritising local employment and technology. We look forward to working with our Australian partners as we develop this facility, which will help revolutionise the decarbonisation of global transportation."

The HIF Tasmania Carbon Neutral eFuel Facility will be located approximately 30 km south of Burnie. With 250 megawatts of electrolyser capacity and at least 40 years of operating life, the facility design is similar to other eFuels facilities in Chile and the United States that HIF Global is preparing for construction in 2023. The HIF Tasmania facility has been designed to be emissions free, with the water for electrolysis primarily extracted from biowaste.

About eFuels

Electricity based fuels, or eFuels, are clean, carbon neutral fuels produced from renewable energy, 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 engines and infrastructure.

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 utilised in existing infrastructure. The name HIF represents the mission of the company: to provide Highly Innovative Fuels to make decarbonisation of the planet possible. HIF Chile, HIF USA, HIF Asia Pacific, and HIF EMEA are wholly owned subsidiaries of HIF Global. HIF Chile is currently constructing the Haru Oni Demonstration Facility in Magallanes, Chile. 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 commercial facilities HIF Global expects to develop worldwide. 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 commercial facilities in Asia-Pacific, Chile and USA; 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.