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Introduction of new, non-oil derived fuels will impact the oil-derived market share.
"The opportunity, as we think about increasing our consumption of biologically derived fuels, is to consider what besides fuels can we make," said Erik Straser, general partner of MDV Mohr Davidow Ventures, a venture capital firm in Menlo Park, Calif.
Algae derived fuels are expensive compared to petroleum derived fuels, but this could change.
Biomass derived fuels meet these expectations and can partly replace fossil fuels.
Solid waste derived fuels are being increasingly considered for application in waste-to-energy processes.
Photosynthetically derived fuels are a renewable, potentially carbon-neutral and scalable alternative reserve.
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Liquid transportation biofuels derived from sustainable lignocellulosic biomass have the potential to significantly reduce greenhouse gas emissions relative to petroleum-derived fuels.
Engines that burn biomass-derived fuels emit carbon dioxide, but the fuels will have been made from plants that absorbed carbon dioxide from the air months earlier.
Likewise, much of the demand for waste-derived fuels stems from lower-than-expected waste supply in countries such as The Netherlands, Denmark and Sweden, where energy-for-waste capacity is high.
Kuwaitis, for instance, often leave their air conditioning — powered by electricity generated from natural gas or oil-derived fuels — running for weeks while on vacation, said an official at the World Bank.
The first-generation fuel cells will use hydrocarbon-derived fuels rather than pure hydrogen, explains Ball.
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