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Doha – Swiss-based cleantech company Synhelion is planning to invest $1 billion in Morocco to develop a sustainable synthetic fuel production facility using solar power technology, the company’s CEO and co-founder Gianluca Ambrosetti announced in early February.
The project aims to produce approximately 100,000 tons of fuel using “sun-to-liquid” technology developed by the Swiss Federal Institute of Technology.
The process involves solar fields with sun-tracking mirrors that reflect sunlight onto a tower, concentrating the rays to achieve temperatures exceeding 1,000 degrees Celsius.
“After Germany and Spain, we aim to develop our next project in Morocco because it offers suitable conditions for expanding renewable fuel production thanks to its exceptional solar resources, availability of raw materials, and strong industrial sector,” Ambrosetti told Asharq Business.
The production process combines concentrated solar radiation in a thermal reactor with methane, carbon dioxide, and water.
The resulting steam and gases are then converted into liquid fuels such as gasoline, diesel, or jet fuel.
The company’s executives met with Karim Zidane, the Minister delegate in charge of Investment, last month during the World Economic Forum in Davos to present the investment project.
Financing will rely on a combination of bank funding, share sales, and potential government financing, according to Ambrosetti.
Synhelion has already secured European government funding and maintains backing from major companies including Lufthansa, Italian energy firm Eni, and Switzerland’s largest car importer Amag.
The company aims to achieve competitive production costs in the long term, targeting $1 per liter to compete with other fuel types, particularly in the aviation sector.
“The new technology has proven its effectiveness and safety, which encourages its global adoption,” Ambrosetti remarked.
Read also: German Fund Backs 100,000-ton Green Ammonia Project in Morocco
