Sep, 2020 - By SMI
According to Prometheus Fuels, the company’s processes are 100% powered by wind and solar energy, and carbon neutral.
On June 9, BMW's hybrid venture firm, BMW i-Ventures has announced that the company has invested in an American energy startup, Prometheus Fuels. The company is working on some technologies to pull out carbon dioxide (CO2) from the atmosphere and process it into carbon-neutral gasoline. Moreover, BMW, a German company has joined forces with a Japanese automotive manufacturer, Toyota to build hydrogen fuel cell vehicles. Considering this, BMW has also presented a prototype of its iHydrogen Next concept vehicle.
While most of the developed world is moving toward battery-electric vehicles, some automotive manufacturers across the globe are plans to adopt green format to reduce CO2 emissions. Furthermore, many car manufacturers are looking forward to take proactive action against global environmental issues to reduce CO2 emissions by 2025. However, major improvements will be required to achieve significant reductions. According to Prometheus Fuels, the company’s processes are 100% powered by wind and solar energy, and carbon neutral. The company says that it can produce molecularly identical oil-based gasoline fuel using the company’s fuel separation and fuel synthesis techniques.
Other permanent fuels require vehicle modifications whereas Prometheus Fuels' gasoline does not require vehicle modifications. Prometheus' gasoline work with existing internal combustion engines. The company aims to price it at the same level as conventional gasoline before bringing the price down over time, so there is no price penalty for its use. According to Prometheus Fuels, the world will see a 10-gigaton reduction in CO2 each year (around 25% of global emissions) if all fuels made from gas and oil were replaced with the company’s style zero-net-carbon fuel. The company plans to sell its zero-net-carbon fuel by the end of 2020 at California retail pumps and expand its market presence in the international markets by 2021.
In search of customized market research solution? We are here to help you. Contact us.