Porsche invests $75 million in eFuel production company

Porsche announced an investment of $75 million in HIF Global LLC, a Santiago de Chile-based company that is an internationally active project developer of eFuel production facilities. Initiated by Porsche with partners Siemens Energy and ExxonMobil, the production of eFuels from hydrogen and CO2 using wind energy is expected to start there in mid-2022. These electricity-based synthetic fuels will allow combustion engines to be operated in a potentially almost CO2-neutral manner.

File photo for representational purpose. (REUTERS)
File photo for representational purpose.

Porsche has initial plans to use the eFuel from Chile in motorsport flagship projects. In the future, the sports car producer mentioned the fuels will also be used in the company’s own vehicles with combustion engines during initial fuelling at the factory and at Porsche Experience Centers.

Also Read : Porsche, holoride launch in-car virtual reality feature in moving vehicle

Porsche added with this investment in HIF Global LLC, it will participate in international financing round alongside companies such as Andes Mining & Energy (AME) and the American companies EIG, Baker Hughes Company and Gemstone Investments. Member of the Executive Board for Procurement at Porsche AG Barbara Frenkel said EFuels make an important contribution to climate protection and also will complement the brand's electromobility goal. “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," added Frenkel.

Also check these Cars

Find more Cars
Porsche Macan (HT Auto photo)
₹ 69.98 - 84.04 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Porsche 718 (HT Auto photo)
₹85.46 Lakhs - 1.64 Cr* Ex-showroom price
Add to compare
Check latest offers
Porsche 911 (HT Auto photo)
₹ 1.64 - 3.08 Cr* *Ex-showroom price
Add to compare
Check latest offers
Porsche Taycan (HT Auto photo)
₹ 1.50 - 2.10 Cr* *Ex-showroom price
Add to compare
Check latest offers
Mahindra Thar (HT Auto photo)
₹ 10.98 - 16.94 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Tata Nexon (HT Auto photo)
₹ 8.10 - 13 Lakhs* *Ex-showroom price
Add to compare
Check latest offers

Also Read : Porsche 911EV could get a solid-state battery, likely to launch by 2030: Report

Porsche shared it has been researching the use of renewable fuels for some time. The premium automaker has also been conducting tests in the laboratory and on the race track which are proceeding successfully. Member of the Executive Board for Research and Development at Porsche AG Michael Steiner said, “We see ourselves as pioneers in eFuels and want to drive the technology. This is one building block in our clear, overall sustainability strategy."

First Published Date: 09 Apr 2022, 10:39 AM IST
Shopping Bag Shop Now
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299
51% OFF
AGARO Galaxy Cordless Tyre Inflator, Portable Air Compressor, Flash Light, Power Bank, Multipurpose Use, Rechargeable, Up to 150 PSI Air Pump for Car, Bike, Foot Balls, Inflatables, Black & Red
Rs. 2,199 Rs. 4,499
55% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 899 Rs. 1,999

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.