The company has invested more than $100 million to develop and provide eFuels.

Porsche announced its latest investment in HIF Global LLC, a Santiago de Chile-based holding firm of international project developers of synthetic-fuel production facilities.

HIF Global LLC is currently working on the Haru Oni eFuel pilot facility in Punta Arenas, Chile. Porsche’s collaboration with Siemens Energy, ExxonMobil and Porsche’s initiative to produce synthetic fuels (also called eFuels), is expected to start in the middle of 2022. These synthetic fuels based on electricity allow combustion engines to run almost CO2-neutrally , making them as clean and as efficient as EVs.Haru Oni eFuel pilot plant in Punta Arenas in Chile

Porsche isn’t the only one to invest in HIF Global LLC. In 2020 , the German company announced its interest to eFuels. Porsche spent nine-digits on this technology with its latest investment.

“EFuels are a significant contribution to climate protection and enhance our electromobility in a meaningful manner. Porsche continues to invest in industrial eFuel production as part of its commitment towards sustainable mobility. Our investment in this innovative technology totals more than USD 100 millions,” Barbara Frenkel (Member of the Executive Board for Procurement) at Porsche AG.

In an international financing round for HIF Global LLC, Porsche will join Chile’s Andes Mining & Energy and American companies EIG and Baker Hughes Company. HIF Global LLC’s majority shareholder is AME. The extra capital will be used for the development of industrial eFuel plants in Chile, Australia, and the US.

Stuttgart-based company will use eFuel from Chile for its motorsport flagship projects. They will be used in future fueling ICE-powered Porsche cars, as well as at Porsche Experience Centers and the factory.