Our definition of Powerfuels embraces a broad range of technologies including hydrogen, synthetic gas (e.g. methane, propane) as well as synthetic liquid fuels and chemicals (e.g. methanol, diesel, gasoline, kerosene, ammonia, Fischer-Tropsch products). In line with the long-term goal of reducing GHG emissions, the carbon needed for the production of hydrocarbon powerfuels (methane, propane, methanol etc.) can originate from carbon capture of existing emission streams and biogenic sources or from direct air capture technologies that draw carbon dioxide from the ambient air. Nitrogen (required for ammonia synthesis) can be captured by direct air separation units. In line with our definition of Powerfuels, “e-fuels” and “synthetic fuels” are synonyms.
A global perspective is essential to address climate change
Due to the inherently global nature of climate change, a global approach is required to mitigate global warming. For the first time, there will be common binding minimum standards from 2024 onward for reporting by states on their greenhouse gas emissions and climate protection measures. The challenge of climate change presents both wide-ranging threats and opportunities for the private sector. Governments are called upon to promote policies that safeguard competitiveness, economic growth and jobs, and enable companies to use their innovative power to protect the climate and make the transition to a sustainable global economy possible. In this context, technology openness is key in order to enable a level playing field between the various climate change mitigation options available.
Powerfuels are game changers
Powerfuels are game changers for reaching climate targets due to 5 key reasons:
1) They are climate-friendly solutions for applications with no viable alternatives.
2) They reduce the overall costs of the energy transition by capitalising on already existing and well-developed infrastructures and providing long-term storage options.
3) They allow worldwide trade and transport of potentials of renewable energy production on a global market.
4) They can accelerate the de-fossilisation of existing consumer end-use equipment as green drop-in alternatives to fossil fuels.
5) They provide flexibility as they can fit any country-specific decarbonisation approach.