Porsche is investing $75m into a synthetic fuels company

We know Porsche has been looking into the use of eFuels for a while, and the company has now announced that it is investing $75million into a firm called HIF Global LLC. Among other things, HIF Global LLC is building the Haru Oni eFuel pilot plant in Punta Arenas, where large-scale production of a synthetic fuel is set to begin in mid-2022.

What’s more, Porsche says the fuel will be created sustainably using wind energy.

These synthetic fuels are electricity-based and allow for nearly-CO2-neutral running of combustion engines, with Porsche having tested them in everything from race cars to an old 993-gen 911.

“eFuels make an important contribution to climate protection and complement our electromobility in a meaningful way,” said Porsche board member Barbara Frenkel.

“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 $100million.”

Blimey – that’s a whole lot of cash. Interesting too, as this news comes just a couple of weeks after Audi told TG.com that synthetic fuels weren’t part of its long-term future…