Porsche invests $32 million into synthetic fuel project in Chile

German automobile manufacturer, Porsche, has partnered with Siemens Energy and the German Government, to build a plant in Chile that will produce ‘eFuel’, a carbon-neutral fuel source capable of powering petrol and diesel vehicles with only minor modifications.

Porsche will invest €20 million ($32 million AUD) into the new synthetic fuel project, with hopes of the continued use of the internal combustion engines in their iconic sports cars.

The new project titled, Haru Oni, will be located in Southern Chile, an area ideal for the development of a wind farm. Green hydrogen will be created through wind power, and then combined with captured carbon to produce the eFuel.

Essentially, the factory will develop synthetic methanol which can be converted into petrol through ExxonMobil’s “methanol to gasoline” priority technology.

According to the participating companies, the plant aims to produce 130,000 litres of eFuel by 2022, before increasing production to 55 million litres by 2024, and 550 million litres by 2026.

Porsche has confirmed that it will continue to develop electric vehicles, however, it believes eFuels may be key to the sustainable continuation of ICE vehicles.

“Electromobility is a top priority at Porsche,” explained Porsche CEO, Oliver Blume. “eFuels for cars are a worthwhile complement to that – if they’re produced in parts of the world where a surplus of sustainable energy is available. They are an additional element on the road to decarbonization. Their advantages lie in their ease of application: eFuels can be used in combustion engines and plug-in hybrids and can make use of the existing network of filling stations.”

Source: CarsGuide | How synthetic fuels could save the V8, diesels and sports cars.

7 December 2020

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