Porsche has invested $75 million in HIF Global, a Chile-based eFuel production company.
eFuels, of course, are still petrol but are produced from hydrogen and CO2 using renewable energy. These fuels, according to Porsche, enable nearly-CO2-neutral operation of regular combustion engines.
“EFuels make an important contribution to climate protection and complement our electromobility in a meaningful way. By investing in industrial eFuel production, Porsche is further expanding its commitment to sustainable mobility. In total, our investment in the development and provision of this innovative technology amounts to more than USD 100 million,” says Barbara Frenkel, Member of the Executive Board for Procurement at Porsche AG.
HIF Global is building the Haru Oni eFuel pilot plant in Punta Arenas, a small town at the southernmost tip of Chile. In fact, the town is considerably closer to the tip of Antarctica than it is to Santiago.
Porsche expects production to begin in “mid-2022.”
“Porsche is investing in an attractive business area with its stake in HIF Global LLC. Synthetic fuels offer attractive prospects across transportation sectors, from the automotive industry to the aviation and shipping sectors. In addition, 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. E-methanol is an intermediate product that is produced during the generation of eFuel,” explains Michael Steiner, Member of the Executive Board for Research and Development at Porsche AG.
Porsche initially plans to use the eFuel from Chile in its “flagship” motorsport projects – whether that is in Formula 1 or sportscar racing, remains to be seen.
The company also hopes that in the future, it will be able to use eFuels to power its own vehicles during initial factory fuelling and at Porsche Experience Centres.
“We see ourselves as pioneers in eFuels and want to drive the technology. This is one building block in our clear, overall sustainability strategy,” says Steiner.
