The world's hunger for fossil fuels shows no sign of abating – despite the fact that we will eventually run out of them. But one German company is looking to cut our carbon ties.
In the U.S., coal accounted for roughly 39 percent of the 4 trillion kilowatt hours of electricity generated during 2013, comfortably outstripping natural gas, nuclear and renewables, according to the U.S. Energy Information Administration.
With this in mind, Dresden-based Sunfire is hoping to use renewable energy, water and carbon dioxide to "close" the carbon cycle and produce sustainable fuels that will lessen our reliance on fossil fuels.
The company describes its vision as "taking water from the ocean and carbon dioxide from the air and using regenerative electricity to convert them into liquid fuels… and gases."
Sunfire are working to produce a fuel that can fit seamlessly into the existing supply chain. A crucial part of its process is the use of what it describes as "steam electrolysis."
"Because we use steam, we need approximately 16 percent less electricity than normal, standard electrolysis," Sebastian Becker, Chief Technical Engineer at Sunfire, told CNBC's Sustainable Energy.