The firm is of Chilean origin, dethroned UPM and will make a large outlay to build the Paysandú plant.
Hif Global became the company that will make the largest investment in the history of Uruguay, by contributing 4 billion dollars for the construction of a green hydrogen and renewable energy plant in Paysandu, But who is behind the firm that the Ancap Group board of directors praised for having “extensive experience”?
The company, leader in the green hydrogen sector, has its origins in Chili and was founded in 2016 by Cesar Norton Sacre, civil electrical engineer graduated from the Federico Santa Maria University of that country, who today serves as president. From then until today, he has been accompanied by three people whom he considers pillars, according to the Ex-Ante consultant, such as the general manager, Clara Bowman; the Vice President of Strategic Development, Juan José Gana; and the director of Innovation, Rolf Schumacher.
In those years, it not only became strong in the Latin American country, but also It has a presence in the United States, Europe, the Middle East and Asia. In fact, from the Ancap Group they had specified that the company has “extensive acquired experience” and highlighted its Matagorda project in Texas, United States; in Burnie, Tasmania, in Australia; and in Chile, with the Haru Oni Project and its successive commercial stages.
According to data from the consultant, Andes Mining Energy (AME) controls 80% of HIF Global, while the rest is shared Porsche (12%), the fund manager EIG, Baker Hughes and Gemstone Investments. The objective of the firm that will land in Uruguay is “to provide Highly Innovative Fuels to make the decarbonization of the planet possible.”
Hif Global aims to become the largest producer of eFuels in the world, “producing 140,000 barrels of eFuels per day by 2030, capturing more than 25 million tons of CO2 and turning 5 million vehicles carbon neutral,” according to its official website.
What is the millionaire investment that dethroned UPM?
The almost 4,000 million dollars that HIF Global will invest for the construction in Paysandú exceeds the largest investment to date, which had been the new UPM Paso de los Toros plant, which included a total of $3.47 billion. Now, the Finnish company is behind its Chilean counterpart.
It is that the project in Paysandú will require about 1.985 million dollars in carbon dioxide capture, methanol production, and synthetic gasoline completion. To this must be added others 2 billion dollars for the installation of wind turbine farms, photovoltaic farms and transmission lines within a radius of up to 180 kilometers from the city. Finally, the company committed an investment of $1.2 million in research, development and innovation initiatives.
From Grupo Ancap they also reported that it is expected that more than 3,200 workers are involved in the construction, which will start next year and last about three months. Once completed, it is estimated that the plant will employ 300 people full time and permanently for operation.
Source: Ambito
