Porsche is strengthening its commitment to the industrial production of eFuels, by investing $75 million in HIF Global LLC. In return, the sports car manufacturer acquires a long-term stake in HIF Global LLC, a holding company of internationally active project developers for eFuel production facilities.
Among other projects, the Santiago de Chile-based company is building the Haru Oni eFuel pilot plant in Punta Arenas (Chile). Initiated by Porsche and implemented with partners such as Siemens Energy and ExxonMobil, production of eFuels from hydrogen and CO2 wind power use is expected to begin there in mid-2022, according to the company. These electricity-based synthetic fuels2– the neutral operation of combustion engines, specifies the company.
AME remains the majority shareholder of HIF Global LLC. The additional capital will be used to develop industrial eFuel facilities in Chile, the United States and Australia.
“Porsche is investing in an attractive business sector with its stake in HIF Global LLC. Synthetic fuels offer attractive prospects in all transport sectors, from the automotive industry to the aviation and maritime transport sectors. , e-methanol is an important raw material for other applications, such as in the chemical industry, where it can replace raw materials of fossil origin. generation of eFuel,” said Michael Steiner, Member of the Board of Management for Research and Development at Porsche AG.
The sports car manufacturer initially plans to use Chile’s eFuel in flagship motorsport projects. In the future, the company says it is also conceivable that they will be used to power the company’s own vehicles with combustion engines during initial refueling at the factory and at Porsche Experience Centers.