Axios Pro: Climate Deals

May 04, 2023

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🍻 We made it to Thursday!

Some personal personnel news: 👋 Hey, Megan here. Tomorrow is my last day on the Axios Climate Deals beat. It’s been an awesome ride, but I'm taking some time off to explore what's next for me. Thanks for reading, and a special thanks to all my talented colleagues. Stay in touch!

1 big thing: Alternative fuels' state of play

Illustration: Aïda Amer/Axios

Alternative fuels are gaining ground as more startups dig for ways to power machines and vehicles without fossil fuels, Megan writes.

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.

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.

Electric fuels: For some lighter-weight vehicles and machinery, going all-electric makes the most sense for fossil-fuel alternatives.

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