In recent years, renewable technologies have reached technical readiness, providing commercially viable solutions for the energy transition – some backed by over 15 years of research and development.
But as legislation and technology for low-carbon energy industries converge, a new emerging market has been created – the renewable fuels market.
This market lies at the crossroads of two welldeveloped and formerly independent global industries – agriculture and energy. The $5 trillion (€4.2 trillion) agricultural industry has the expertise to process large quantities of biological products.
While the $3.3 trillion (€2.8 trillion) energy industry has the know-how to produce transportation fuels.1
The integration of these industries means we now have technologies that can convert bio-based feedstocks such as animal fats, used cooking oils, vegetable oils, and greases (FOGs) into fuels that can power the world’s vehicles. The shift to renewable fuels is taking off. As of 2019, the market is estimated at $160 billion (€135 billion).
Today, the market is experiencing anywhere from 7-39% annual growth rates. This...
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