Fossil-free fuels to meet climate goals: P1 Fuels continues growth trajectory and launches new financing round for mass market entry

BERLIN, Oct. 5, 2023 /PRNewswire/ -- P1 Performance Fuels, one of the leading producers of 100% fossil-free fuels for petrol engines, is planning to expand production to supply car manufacturers for initial fuelling (First Fill) and companies with fleets. Supplying the first petrol stations is also on the agenda. To scale-up production, P1 Fuels is building a demonstration plant in Germany that will open in 2024, with an industrial production facility planned for 2029. P1 will start approaching investors for funding this month.

The green tech company's Advanced Synthetic Fuels are free of fossil fuels. On a tank-to-wheel basis, the manufacturing process already closes the carbon cycle by capturing the same amount of CO2 during production as P1 fuels release during combustion. Thus, no additional CO2 is released into the atmosphere. Taking production and transport into account (well-to-wheel), the CO2 reduction is 77.4 percent. Once production is scaled-up, P1 Fuels will be able to improve greenhouse gas reductions to 94 percent compared to fossil fuels.

P1 Fuels founder and CEO Martin Popilka stated: "We are enabling a smooth transition to fossil-free fuels right now. No changes to the engine or refuelling infrastructure, including petrol stations, are required. With widespread availability to consumers, CO2 emissions from road traffic could be reduced quickly and significantly to protect the climate, starting today. P1 fuels are therefore a vital building block in achieving international and national climate goals."

An important message from the German Federal Ministry of Finance recently expressed its conviction that all climate-neutral forms of propulsion should be treated equally and receive the same tax benefits as electric mobility. "This could quickly bring the prices of fossil-free and fossil fuels to almost the same level," said Popilka.

It is estimated that there are currently about 1.3 billion fossil-fuelled passenger cars in the world. While 21 percent of global CO2 emissions come from transport, 41% of which come from passenger cars. A large number of these cars are internal combustion engines that will still be around for decades to come. Fuelling these cars with e-fuels, which are virtually CO2-neutral, will make a significant contribution to achieving climate goals. This calculation must also take into account those countries that will only have a limited ability to ensure nationwide e-mobility over the next few decades. To rapidly reduce CO2 emissions from transport with synthetic fuels, industrial-scale production needs to be ramped-up.

P1 Fuels' key markets are the EU, Japan and, in the future, the US. The company uses artificial intelligence (AI) to further develop and optimize formulations, manufacturing processes, and products. As Popilka emphasized, "We have started building a demonstration plant in Germany, which will open in 2024, while an industrial production facility is planned for 2029. Over the next five years, we will work hard to significantly scale-up our production capacity and achieve a much greater market impact. This will enable us to sell our fossil-free fuels at competitive prices through petrol stations, which will be the next step in our goal to provide a cost-effective and equivalent replacement for fossil fuels. Our goal is to massively reduce greenhouse gas emissions and help tackle the climate crisis."

P1 fuels are certified, have the same performance as fossil fuels, work in all petrol engines and comply with UK and EU fuel regulations. The company's signature fuel, P1 Super Eco100 Pro, has been tested on engines in various passenger car categories and can be used in all vehicles with petrol engines. P1 Fuels has worked successfully with motorsport organizations and more than 20 OEMs for many years to ensure that its fossil-free fuels deliver the same performance as conventional fuels, even at very high and very low temperatures.

Since 2018, P1's fuels have delivered proof-of-performance in motorsport and are used in racing cars and classic cars. Martin Popilka was a racing driver himself: "Only with an environmentally friendly fuel can we pursue motorsport with a clear conscience. We have therefore developed P1 Super Eco100 Pro out of pure conviction, completely independent of outside interests. And we have tested it in high-performance engines." P1 now fuels vehicles in the FIA World Rally Championship, DKM (German Karting Championship), FIA Karting Championship and at many other international races "Our next goal is to massively scale-up the production of P1 fuels, so that consumers and companies alike have a real choice to run their cars or entire fleets on fossil-free fuel."

Companies are under increasing pressure to demonstrate that their operations are sustainable. Fossil-free fuels help with both Scope 3 reporting requirements and cradle-to-wheel traceability of CO2 emissions.

About P1 Fuels

P1 Performance Fuels is one of the leading producers of 100% fossil-free fuels for petrol engines. P1 fuels are certified, have the same performance as fossil fuel and work in all spark ignition engines. The greentech company's Advanced Synthetic Fuel achieves a CO2 reduction of 77.4% compared to conventional petrol (well-to-wheel). To scale production, P1 Fuels is currently building a demonstration plant in Germany. The company has an impressive track record in motorsport. Since 2018, P1 Fuels have proven their performance in race cars, classic cars, and with more than 20 OEMs, demonstrating an equal performance to conventional fuels, even at very high and very low temperatures. In 2021, P1 Fuels beat several multinational oil companies to become the sole fossil-free fuel supplier to the FIA World Rally Championship (WRC) for the 2022-2024 seasons. Currently, the fossil-free P1 Super Eco100 Pro meets the EN 228 standard and is therefore approved for road use in the European Union and the United Kingdom. It also complies with the Japanese Industrial Standard (JIS) and is certified by the Fédération Internationale de l'Automobile (FIA). Variants of the fuel are also approved for the US market.

Founded in 2018, P1 Performance Fuels is headquartered in Berlin and has a team of 30 staff. More information at: www.p1fuels.com.

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SOURCE P1 Fuels