Porsche increases its participation in the industrial production of synthetic fuels | 4/6/22

Porsche is increasing its participation in the industrial production of synthetic fuels.

As announced by the group, US$75 million will be invested in HIF Global LLC holding and thus acquired a 12.5 percent stake. HIF is a holding company of international project developers for eFuels production plants. Among other things, the Santiago de Chile-based company is building the “Haru Oni” eFuels pilot plant in Punta Arenas. Wind-powered hydrogen and carbon dioxide e-fuels are expected to start production from mid-2022. According to Porsche, these synthetic fuels allow combustion engines to run in a potentially nearly CO2-neutral way.

By investing in HIF Global LLC, Porsche is participating in an international financing round. In addition to the sports car manufacturer, Chilean company Andes Mining & Energy (AME) and American companies EIG, Baker Hughes Company and Gemstone Investments also invest. AME remains the largest shareholder in HIF.

DJG / cbr / bb

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