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Porsche invests $75m in classic-friendly eFuel producer


Porsche is doing its best to ensure that you can continue to drive classic 911s in the future, with its continued commitment to developing carbon-neutral eFuels for internal-combustion engines. 

The Stuttgart-based manufacturer’s latest step in this direction is a $75m investment in Chilean eFuel company HIF Global LLC in return for a long-term stake. Porsche is being joined in the venture by other major investors EIG, AME, Baker Hughes and Gemstone Investments. 

Now armed with an investment sum in the “low nine-figure USD range”, HIF Global LLC expects to produce eFuels at its Haru Oni eFuel pilot plant in Chile from mid-2022. 

The additional funds also mean that new eFuel facilities will be developed in Chile, the US and Australia – all of which have large supplies of renewables to tap into for eFuel production. 

It is likely that classic car owners will have to wait for some time before filling up their tanks with carbon-neutral eFuels, but Porsche’s commitment to the internal-combustion engine’s future alongside its development of EV powertrains is encouraging. Indeed, Porsche is already utilising eFuels in its Porsche 911 GT3 Cup series.

In the meantime, the manufacturer will continue researching renewable fuels in its laboratories and on race circuits around the world: “We see ourselves as pioneers in eFuels, and we want to drive the technology. This is one building block in our clear, overall sustainability strategy,” summarises Porsche board member for R&D Michael Steiner.

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