- uploaded: Jan 30, 2011
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Transcript by http://www.newsy.com
BY CHARLIE MCKEAGUE
You're watching multisource business video news analysis from Newsy.
Gas prices have eclipsed the 3.00 dollar a gallon mark again. But- don't panic just yet. The latest innovation is a synthetic hydrogen fuel from a British company which promises to produce it in mass for just $1.50 a gallon. The company also says its fuel can be used without engine modifications.
We're monitoring the hydrogen hoopla from Gizmag, Cella Energy, HydroWaterPower.com, and Ubergizmo.
Gizmag, which broke the story, explains how the company is doing it and what the new fuel could mean for a cleaner future.
"The technology was developed using advanced materials science, taking high energy materials and encapsulating them using a nanostructuring technique called coaxial electrospraying. Apart from promising a future transportation fuel with a stable price regardless of oil prices, the fuel is hydrogen based and produces no carbon emissions when burned."
The UK-based company called "Cella Energy" has been working on the fuel for 4 years. On its website the company explains why the breakthrough could be so huge. It claims very few modifications would be needed.
"Refueling takes place from a regular fuel pump and requires no high pressure or very-low temperatures. This fits easily within the existing refueling infrastructure and means hydrogen could be provided for a billion existing road vehicles immediately."
Hydrogen gas has always been a potential solution to reducing oil consumption -- but its been a struggle to develop and implement it efficiently. A report from Hydro Water Power brings context and explains why.
"Hydrogen and Oxygen. They knew that these two individual gases could be produced from water. But found it was very expensive to do so, requiring tremendous amounts of electricity. In addition, the resulting quantities were small and dangerous if not handled properly. As a result, for decades, many believed that there was little to no commercial future for water as an alternative fuel source."
But times have changed -- and it appears a new generation of hydrogen energy is on its way. A writer for Ubergizmo explains why the new fuel could be boom or bust for big energy companies.
"No idea on whether energy companies are willing to see this hit the mass market since it might mean they lose out on their profit margin, or will they also be racing to churn out a similar kind of gasoline as well to compete?"
So what do you think? Is Hydrogen the answer to the energy crisis? Or just one of many?
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Transcript by Newsy.