Porsche, EIG, AME, Baker Hughes Company, and Gemstone Investments completed the acquisition of a minority stake in HIF Global for $260m.

Porsche, EIG, AME, Baker Hughes Company and Gemstone Investments completed the acquisition of a minority stake in HIF Global, an eFuels company, for $260m. “Produced from green hydrogen and recycled CO2, eFuels provide a real decarbonization solution for cars, ships, and planes that are in use today without any modification to existing engines. Expanding on the success of our pioneering Haru Oni project in Magallanes, Chile, we expect to begin construction of HIF’s first commercial scale eFuels plant in the United States in 2023, followed quickly by similar facilities in Chile and Australia in 2024. Together with our strong partners, EIG, Porsche, and Baker Hughes, we will transition to a cleaner earth,” Meg Gentle, HIF Global Executive Director.