Montevideo and Houston – December 26, 2025. HIF Global, the world’s leading e-Fuels company, and Alcoholes del Uruguay (“ALUR”), company of the state-owned ANCAP group, have signed the Implementation Agreement (“HIF-ALUR agreement”), which establishes the framework for the interaction between HIF's future e-Fuels facility in Paysandú and ALUR's biofuel plant nearby.
The HIF Paysandú e-Fuels facility, with an estimated investment of USD 6 billion, aims to produce 700,000 tons of renewable fuels annually. The HIF Paysandú e-Fuels facility is expected to recycle 900,000 tons of CO2 per year, of which approximately 150,000 tons will come from ALUR.
Earlier this year, HIF’s project was selected through an international call made by ALUR for the development of an initiative to reutilize biogenic carbon dioxide from the company biofuel facility in Paysandú.
Cesar Norton, President and CEO of HIF Global, stated: “This agreement is an important step forward for our project in Uruguay, and we will continue working energetically towards its realization. We trust in our collaborative work with the authorities, which will allow us to keep Uruguay among the countries leading the production of renewable fuels”.
"This collaboration represents a key step forward in the development of a sustainable fuels industry in Uruguay, strengthening the ANCAP Group's strategy of promoting projects that create economic and environmental value both locally and globally," added ANCAP’s acting president, Diego Durand.
The HIF e-Fuels plant in Paysandú is awaiting the final resolution for the land-use change where it will be located, as well as the subsequent Environmental Location Viability. Additionally, the HIF team is advancing in the Environmental Impact Study, the engineering for the facility and its associated infrastructure and access services.
This agreement reaffirms the commitment of both parties to promote initiatives that foster a cleaner and more sustainable economy, while exploring opportunities to position Uruguay as a leader in innovative energy solutions for the world. Uruguay is one of the global leaders in energy transition, with over 97% of its electricity matrix derived from renewable sources.
About e-Fuels
e-Fuels are synthetic fuels produced with renewable energy and recycled CO2 from industrial, biogenic sources, or directly from the atmosphere. They are chemically equivalent to current conventional fuels, which means they can be used in existing cars, boats, and airplanes without the need to modify engines or infrastructure. HIF has been producing e-Fuels for two years at its HIF Haru Oni plant in southern Chile, and has completed eight exports to its customer Porsche, the German automotive company
About HIF Global
HIF Global is the world's leading e-Fuels company, developing large infrastructure projects to recycle captured CO2 and produce synthetic hydrocarbons for existing engines. The name HIF represents the mission of the company: to provide Highly Innovative Fuels that advance global energy sustainability. HIF is producing e-Fuels today at its HIF Haru Oni e-Fuels facility in southern Chile and is developing commercial-scale e-Fuels facilities in United States, Uruguay, Australia, and Chile. For more information, visit www.hifglobal.com
About ALUR
Uruguayan company, leader in the production of biofuels. ALUR manages agro-industrial chains in a sustainable manner and with high value to produce biodiesel, bioethanol, chemicals, animal feed, energy, and sugar. It has agro-industrial complexes located in Montevideo, Paysandú, and Artigas, where more than 4,000 people work directly and indirectly in these chains. ALUR is the supplier to ANCAP for the biofuel blending it carries out by legal mandate and is defined as a green and innovative arm of the group. It is involved in several developments and projects across all technological routes for renewable liquid fuels. For more information, visit www.alur.com.uy.
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 e-Fuels 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 e-Fuels 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.
Press contact:
Eva Bandola | [email protected] | +1 630 956 1776