Porsche-Backed HIF Gets Go-Ahead for Giant Texas E-Fuel Plant
- Startup’s $6 billion plant to make 200 million gallons a year
- Substitute is being tested in South America on Porsche models
Photographer: Eddie Seal/Bloomberg
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HIF Global LLC., a clean energy startup backed by Porsche AG, won regulatory approval to build a $6 billion facility in Texas that is betting on renewable power to produce substitutes for gasoline and shipping fuel.
The plant is expected to harness wind power to produce about 200 million gallons a year by 2027 of the substitute that could be used in ships as methanol or further processed to become a carbon-neutral gasoline, Meg Gentle, executive director of the Houston-based company, said at the BNEF Summit in New York on Monday.