Porsche has announced it has invested $75 million into HIF Global, acquiring a sizeable stake in one of the world’s leaders in eFuel research and development.
HIF Global’s eFuel technology combines hydrogen, CO2 and wind-turbine-sourced renewable energy, with Porsche saying that this electricity-based synthetic fuel translates to “nearly-CO2 neutral” running of internal combustion engines.
The Chilean company is currently building a plant in Punta Arenas that was initiated by Porsche, helping to secure additional funding from Siemens Energy and ExxonMobil, with Chile’s Andes Mining & Energy remaining the largest single shareholder.
HIF Global says the facility should be up-and-running in mid-2022 – so, any time now – and says that it is looking to expand its production facilities in Australia, the US and further into Chile thanks to access to renewable power.
Porsche says that future generations of its flagship racers would be some of the pioneers of the eFuel, adding that it’s possible that eFuel could power combustion vehicles at its factory and at its Porsche Experience Centres.
Interestingly, none-other-than Formula 1 has confirmed that by 2025, the next-generation of powertrains must be powered by 100 per cent sustainable eFuel, as it hopes to become carbon neutral by 2030.
Part of F1’s mandate is that the fuel can run in any internal combustion engine without any modifications and be created with energy sourced from renewables, a carbon capture scheme, or biomass, while reducing emissions by “at least 65” over a traditional blend of petrol.
Perhaps not so coincidentally, Porsche has confirmed a return to Formula 1 after a three-decade hiatus with a partnership alongside Red Bull Powertrains, which would likely see the research and development from the company’s eFuel investments trickle down into some fancy powertrain wizardry.
