Porsche-Backed E-Fuels Maker to Build $1B Australian Plant
upstart writes:
Porsche-backed e-fuels maker to build $1b Australian plant:
E-fuels group HIF Global, which is backed by Porsche, has chosen Tasmania as the site for a $1 billion production plant for synthetic green fuels, confirming a take-off in major decarbonisation investments amid growing momentum towards net zero emissions.
The plant, to be located south of Burnie in the north-west of the island state, would produce up to 100 million litres a year of carbon-neutral e-fuels once fully operational. Construction is targeted to begin in 2024 just after financial close.
HIF, which is 12.5 per cent owned by Porsche, flagged earlier this year it was examining prospective sites in northern Queensland, Victoria and Tasmania to build a plant in Australia, with access to renewable energy and strong winds as important factors to consider.
[...] The plant will use renewable energy to split water into oxygen and hydrogen using a 250 megawatt capacity electrolyser. Carbon dioxide is then filtered from the air and is combined with the green hydrogen to produce synthetic methanol, which is then converted into fuel using a methanol-to-gasoline technology licensed by ExxonMobil. The water used in the electrolysis process will be primarily extracted from biowaste.
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