• Hydrogen – While hydrogen is a promising fuel, HVO is more readily available in comparison, especially since the UK government has removed import taxes on HVO. This makes HVO a more accessible and immediate solution, whereas hydrogen infrastructure is still in development.
• Electric Vehicles – Electric vehicles face challenges with sufficient range and charging infrastructure, particularly in heavy-duty transport sectors. Full electrification is still in the early stages of development, and the upfront investment is extremely high.
• Gas-to-Liquid (GTL) – GTL is a synthetic fuel made by converting natural gas into diesel through Fischer-Tropsch synthesis. However, GTL has lower energy efficiency and reduced energy density compared to traditional fuels like HVO and diesel, making it less efficient in terms of performance and cost-effectiveness.