Porsche and Siemens have partnered to launch the Haru Oni project, initiative of HIF Global, which uses wind and solar energy to produce synthetic fuel in Patagonia, Chile. With the ideal climatic conditions for wind generation in the region, Meg Gentle, one of the project's top managers, believes the endeavor has enormous potential, Forbes reported on Sunday.
The production of the fuel takes place in several stages. First, wind energy is used to power electrolyzers that extract hydrogen from water. The hydrogen is then combined with recycled carbon dioxide, resulting in synthetic hydrocarbons indistinguishable from fossil gasoline.
Porsche AG is excited about the possibility of selling synthetic fuel to drivers interested in both combustion engine vehicles and eco-friendly lifestyles. The company plans to popularize synthetic fuel by using it to fuel the race cars.
HIF Global, lead developer of the Haru Oni project, is looking to construct thousands of wind turbines in Patagonia, which would be enough to produce billions of gallons of fuel a year and make Chile an exporter greener gasoline.
HIF aims to construct its first world-scale plant in Texas–near its chemical plants, and develop one in Tasmania.
Andrew Ellenbogen, managing director of EIG, a private equity firm with $24 billion under management, first invested in HIF in 2015 to build solar farms and gas-fired generation in Chile, said that demand for similar projects is boundless.