Porsche buys into green liquid fuels developer

Automotive company Porsche AG has bought into HIF Global which has ambitious plans to manufacture carbon neutral liquid auto fuels in Australia, the United States and Chile.

The company, which is building the Haru Oni eFuels pilot plant in Chile (pictured), raised US$260 million in equity to fund the global expansion of its business to supply ships, cars, trucks, and airplanes with renewable energy.

The investors include funds managed by Porsche AG, EIG, AME, Baker Hughes, and Gemstone Investments, with Porsche AG’s Dr Michael Steiner to join the HIF Global board.

In the Haru Oni plant renewable energy from the wind drives electrolysis to produce green hydrogen. The project will also capture CO2 from the atmosphere and use a process of synthesis to combine the CO2 and hydrogen to produce liquid eFuels.

The comcept behind the company is that liquid fuelled internal combustion vehicles will be around for a long time, and current petrol stations would not need to be altered to handle the carbon neutral alternative.

HIF is now looking for sites in Australia, according to reports, and are considering sites in northern Queensland, Victoria and Tasmania.

CEO of HIF Global César Norton said: “HIF Global is our response to the global challenge of climate change and decarbonisation, which requires a global solution, making our expansion into international markets a crucial part of our strategy.

“Our vision is to capture more than 25 million tons per year of CO2 from the atmosphere, produce approximately 150,000 barrels per day of eFuels, and make more than 5 million cars carbon-neutral.”

Picture: HIF Global/artist’s impression Haru Oni facility

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