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
Frankfurt (Dow Jones)
“Total coffee aficionado. Travel buff. Music ninja. Bacon nerd. Beeraholic.”
More Stories
Wealthy families take more risks when it comes to money.
Salesforce and NVIDIA Form Strategic Collaboration to Drive AI Customer Innovation
Changing banks causes problems for customers