State of play: Alternative fuels
- Megan Hernbroth, author of Axios Pro: Climate Deals
Illustration: Aïda Amer/Axios
Alternative fuels are gaining ground as more startups dig for ways to power machines and vehicles without fossil fuels.
Why it matters: Investors are clamoring to fund the future of fuel, even though most of the technology and science remains in early stages.
Fuel replacements: Hydrogen and ammonia are both considered drop-in fuels because they can run on lightly retrofitted vehicle engines without major changes. Understandably, oil and gas majors have expressed interest in backing some promising hydrogen startups.
- Bridging the hydrogen transportation gap
- Norway makes a hydrogen play in Texas
- CERAWeek preview: All eyes are on green hydrogen
- Troubled EV maker Nikola eyes hydrogen
Novel fuels: Other options, like sustainable aviation fuel, are looking toward entirely new ways to power machinery and vehicles. Though decades-old, novel interpretations of nuclear energy have also been growing in popularity among climate investors.
- Air Company inks $65M fuel deal with U.S. Air Force
- Renewable Natural Gas maker Divert secures $63M
- Here come the first 10 small reactors
Electric fuels: For some lighter-weight vehicles and machinery, going all-electric makes the most sense for fossil-fuel alternatives.