BMW i Ventures, has announced an investment in an energy company working to capture carbon dioxide from the air and turn it into net zero carbon fuel.
Silicon Valley technology startup Prometheus Fuels aims to sell the product at gas stations later this year, at a competitive price with fossil fuels.
The venture capital wing of the auto manufacturer says the replacement of all fuels made from oil and gas with net zero carbon alternatives could reduce 25% of global carbon dioxide emissions.
Greg Smithies, Partner, BMW i Ventures, said: “By creating carbon-neutral gasoline from carbon dioxide captured from the air, Prometheus Fuels allows the climate impact of today’s internal combustion engines to be massively reduced immediately.”
Rob McGinnis, Founder and CEO of Prometheus, commented: “This investment will help us to accelerate our efforts to bring our zero-net carbon fuel to market quickly.”