Published on May 8th, 2022 | by Daniel Sherman Fernandez0
Save Up For An Electric Car Or Wait For RM45.00 Per Liter eFuel
eFuel will be rather expensive to start, but prices will come down to USD2.00 per liter in 2 years.
Porsche some years ago came with the idea to develop a synthetic petrol or efuel. Yes, it is estimated to cost at the pump almost RM45.00 a liter. However, once in full production and with high volume, it is estimated to fall to USD2.00 plus a liter (which is about RM9.00) in 2 to 3 years’ time. For us, we will wait for this e-fuel to arrive as we want to keep driving our old modern classic cars that have no more monthly instalments.
So, this revolutionary fuel will slowly replace petroleum and in turn reduce a number of environmental issues and also the help to reduce emissions. How much, the calculations are still in progress.
Meanwhile, the cost of producing batteries for electric cars is still not saving the environment as mining costs are not being measured by the European Union (EU) nations who just want clean air and clean motoring at the expense of South American and African nations who are mining the rare minerals and using cheap labor.
Just recently in April 2022, Porsche announced that they were investing USD75 million in a company that is an active developer of E-Fuel. HIF Global LLC is based in Santiago Chile is already building an eFuel pilot plant in Punta Arenas (Chile).
PRESS RELEASE: Initiated by Porsche and implemented with partners including Siemens Energy and ExxonMobil, production of eFuels from hydrogen and CO2 using wind energy is expected to start there in mid-2022. These electricity-based synthetic fuels allow combustion engines to be operated in a potentially almost CO₂-neutral manner.
With its investment in HIF Global LLC Porsche is participating in an international financing round alongside the Chilean company Andes Mining & Energy (AME) and the American companies EIG, Baker Hughes Company and Gemstone Investments.
In total, an amount in the low nine-figure USD range is flowing into HIF Global LLC. AME remains the majority shareholder of HIF Global LLC. The additional capital will be used to develop industrial eFuel facilities in Chile, the US and Australia, which have large supplies of renewable energy.
“EFuels make an important contribution to climate protection and complement our electromobility in a meaningful way. By investing in industrial eFuel production, Porsche is further expanding its commitment to sustainable mobility.
In total, our investment in the development and provision of this innovative technology amounts to more than USD 100 million,” says Barbara Frenkel, Member of the Executive Board for Procurement at Porsche AG.
In addition, e-methanol is an important raw material for other applications, such as in the chemical industry, where it can replace raw materials of fossil origin. E-methanol is an intermediate product that is produced during the generation of eFuel,” explains Michael Steiner, Member of the Executive Board for Research and Development at Porsche AG.
Porsche has been researching the use of renewable fuels for some time. Tests in the laboratory and on the race track are proceeding successfully: “We see ourselves as pioneers in eFuels and want to drive the technology. This is one building block in our clear, overall sustainability strategy,” emphasizes Michael Steiner.
The sports car manufacturer initially plans to use the eFuel from Chile in motorsport flagship projects.