We are currently in the 3rd Generation of biofuels. Some companies claim that the 4th generation biofuels are just around the corner. Over the years, the first and the second generation biofuels have failed to deliver what they had promised and even the 3rd generation has been unable to live up to its expectations even though millions of dollars have been invested in the research of biofuels by 100's of companies around the world.
We would be the exploring the reasons why every generation of biofuels has failed to replace fossil fuels and what have been their short comings. What has been the learning from the first 3 generations that we could build upon to have a successful 4th generation?
Even though the 1st and the 2nd generations (which are also known as biofuels from crops generation) failed, we have thousands of acres of land dedicated to crops that can be used for biofuels extraction. Can we put this investment to good use today or is it a "Sunk Cost”?
Incase there is a perspective that people are inquisitive to know more about, please post your points of interest and we will try to include them in the presentation.
Cheers,
Nipun n Raghav
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