Porsche has announced it is investing $75 million in a holding company called HIF Global LLC, which is involved in multiple eFuel production facilities. The investment comes as no surprise, as Porsche's involvement in eFuels is known, and the company had already initiated a pilot program in Chile with several partners.
This year, the Haru Oni eFuel pilot plant in Punta Arenas is expected to start manufacturing eFuels from hydrogen and CO2 using just wind energy. Once production is scaled up, the facility will be able to supply synthetic fuels with an almost neutral CO2 footprint, as they do not require fossil fuels to be manufactured.
With the investment from Porsche, the HIF Global LLC will continue to develop industrial eFuel facilities in Chile, the U.S., and Australia. All three mentioned countries have been selected by the group because they have large supplies of renewable energy. The companies involved have not specified a timeline for when the facilities in U.S. or Australia will be ready.
Porsche plans to be a pioneer in the eFuel game, and the company has conducted multiple laboratory tests, as well as racetrack tests. Various racing cars made by Porsche were tested in diverse conditions while running eFuels, and the tests have been successful.
The eFuel made in Chile should go on to be used in the company's flagship products in motorsport. In the future, Porsche wants to supply its ICE-equipped vehicles with eFuels from the factory. We are referring to the initial fueling, which is required to allow the vehicle to be transported from the factory and to the trailer that carries it to the firm's shipping partners.
As usual with transactions like these, the relevant antitrust authorities will have to analyze and approve the deal before it becomes final. Later, Porsche wants to help HIF Global LLC in developing synthetic fuels for other sectors, such as transportation.
The idea is to have an eFuel alternative for the aviation and shipping sectors, which have a big carbon footprint that will not go away even if everyone in the world becomes an EV owner overnight.
With the investment from Porsche, the HIF Global LLC will continue to develop industrial eFuel facilities in Chile, the U.S., and Australia. All three mentioned countries have been selected by the group because they have large supplies of renewable energy. The companies involved have not specified a timeline for when the facilities in U.S. or Australia will be ready.
Porsche plans to be a pioneer in the eFuel game, and the company has conducted multiple laboratory tests, as well as racetrack tests. Various racing cars made by Porsche were tested in diverse conditions while running eFuels, and the tests have been successful.
The eFuel made in Chile should go on to be used in the company's flagship products in motorsport. In the future, Porsche wants to supply its ICE-equipped vehicles with eFuels from the factory. We are referring to the initial fueling, which is required to allow the vehicle to be transported from the factory and to the trailer that carries it to the firm's shipping partners.
As usual with transactions like these, the relevant antitrust authorities will have to analyze and approve the deal before it becomes final. Later, Porsche wants to help HIF Global LLC in developing synthetic fuels for other sectors, such as transportation.
The idea is to have an eFuel alternative for the aviation and shipping sectors, which have a big carbon footprint that will not go away even if everyone in the world becomes an EV owner overnight.