Porsche invests £57m in Chilean-based e-Fuel producer, as part of a wider collaboration with ExxonMobil

Porsche have confirmed that they will be investing £57m in the Chilean-based company, HIF Global LLC, in return for a long-term stake within the company.

Porsche, alongside ExonnMobil and Siemens Energy, are collectively supporting the development of the Haru Oni efuel pilot plant in Chile. This move will stimulate industrial production of around 130,000 liters of eFuel deriving from both hydrogen and C02 in 2022.

If successful, capacity will then be expanded in two stages to around 55 million litres by 2024, and around 550 million litres by 2026.

For more information surrounding the initiative, read the full article here.