Porsche investing $75M in HIF Global eFuels

April 13, 2022 |

In Germany, Porsche is investing $75 million in HIF Global LLC. In return, the sports car manufacturer is acquiring a long-term stake in HIF Global LLC, a holding company of internationally active project developers of 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 including Siemens Energy and ExxonMobil, production of eFuels from hydrogen and CO2 using wind energy is expected to start there in mid-2022. These electricity-based synthetic fuels allow combustion engines to be operated in a potentially almost CO-neutral manner.

With its investment in HIF Global LLC Porsche is participating in an international financing round alongside the Chilean company Andes Mining & Energy (AME) and the American companies EIG, Baker Hughes Company and Gemstone Investments. In total, an amount in the low nine-figure USD range is flowing into HIF Global LLC. AME remains the majority shareholder of HIF Global LLC. The additional capital will be used to develop industrial eFuel facilities in Chile, the US and Australia, which have large supplies of renewable energy.

Category: Fuels

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