A major new study on the outlook for advanced liquid biofuels has been published by the International Renewable Energy Agency (IRENA). The Innovation Outlook:Advanced Liquid Biofuels provides a global technology outlook for advanced biofuels between 2015 and 2045, specifically liquid transport fuels for road, shipping and aviation use. Aimed at policy makers and investors, it discusses the commercial potential, including the technical and non-technical barriers to deployment, and the role of innovation in overcoming these barriers. It provides strategies to support advanced biofuels at all stages of the innovation chain.
The study, led by E4tech in collaboration with Hamburg University of Technology, shows the potential for innovation to reduce production costs by up to a third by 2045. However, it also highlights the importance of policy support and financial mechanisms to ensure that this potential is reached and that greenhouse gas emissions reductions of up to 95% (compared to fossil fuels) can be realised. The potential for advanced biofuels is great but so are the challenges. A competitive advanced biofuels industry will depend on innovative technology and supply chains, market development and policy support.
Learn more about E4tech’s work in biofuels and biochemicals here.