Porsche has increased its investment in eFuels, acquiring a 12.5 percent stake in fuel production company HIF Global -
has acquired a 12.5 percent stake in HIF Global, a holding company for a number of eFuel production facilities around the world, including Chile where Porsche, Siemens Energy and ExxonMobil have already embarked on eFuel production. This latest $75 million investment by Porsche is in addition to the $25 million it has already invested at the pilot Haru Oni plant in Punta Arenas.
Away from automotive, Porsche is also in conversation with the aviation and marine industries, both of which have more pertinent need to find an alternative fuel to those they currently burn. A byproduct of eFuel production, E-methanol, is not only a possible replacement for the fuel currently used by the shipping industry, but also a suitable replacement for fossil fuels in the manufacture of other industrial materials, further reducing CO2 output.
How eFuels absorb carbon in the production process is all down to the science of precisely how their form of synthetic fuel is made. Step one is to create green hydrogen through a process of electrolysis. This process is very energy intensive, and when created from fossil fuel-sourced electricity doesn’t make ecological sense.
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