Currently reading: Porsche invests £57 million in synthetic fuel maker HIF Global
Manufacturer acquires 12.5% stake in the company building the Haru Oni e-fuels plant in Chile

Porsche has taken a significant step towards its goal of commercialising synthetic fuels with the acquisition of a stake in multinational e-fuels maker HIF Global.

The deal, worth some $75 million (£57.2m), has Porsche take a 12.5% share in HIF, which is leading construction of the Haru Oni eFuels plant in Punta Arenas, Chile, which will produce synthetic fuel for use in ICE Porsche cars from mid-2022.

The German manufacturer is one of several large companies investing in HIF, alongside Chile-based Andes Mining and Energy (which remains the majority shareholder) and American firms EIG, Baker Hughes and Gemstone Investments.

The amount raised in this funding round is said to total more than $100m (£76.

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