While we live in an increasingly sustainable world, there’s no doubt that fossil fuels are continuing to dominate the energy marketplace in the UK.

This trend is likely to continue into the future too, with most figures suggesting that fossil fuels will still account for an estimated 77% of all energy consumption in the year 2050.

Despite this, we’re continuing to see considerable innovation in this market, particularly in a business climate that’s increasingly driven by corporate social responsibility. Below, we’ll look at three examples of innovative energy tech that are currently taking the business market by storm.

#1. The Rise of Waste to Energy Management Techniques

Waste represents a significant issue for businesses, both from an environmental and a cost perspective.

This is particularly true in relation to materials such as plastic, of which just 44.9% is recycled on an annual basis.

With this in mind, it stands to reason that concepts such as waste to energy have gained considerable traction in recent times. This covers a range of technologies that convert non-recyclable waste (such as certain types of plastic) into usable forms of fuels, heat and electricity, providing huge benefits to businesses in the process.

This is not only delivering considerable cost savings to businesses, but it’s also boosting the natural environment and putting non-recyclable materials to good use.

#2. The Production of Oil Without any Greenhouse Gases

As we’ve already touched on, the demand for fossil fuels such as oil has never been higher, and this is posing a considerable threat to the natural environment across the globe.

This has forced companies to invest in interim technology that improves the efficiency of such fuels, such as flow controls designed to minimise waste, rather than looking to replace them directly.

Beyond this, Petroteq. Inc has also created an innovative and patented solution that leverages oil sands extraction as a way of minimising waste, eliminating greenhouse gases and negating the need to use high temperature liquids.

This taps into a previously neglected extraction method, by using a proprietary closed-loop that is focused solely on oil sands exploitation.

#3. The Extraction of Lithium in Just 24 Hours

Battery technology is also delivering huge benefits to businesses in the modern age, with this market set to peak at $120 billion in less than two years.

There are some issues that remain with this technology, however, particularly with in-demand products such as Lithium painfully slow to extract and central to an extremely wasteful mining process.

However, we’ve recently seen a new way developed to extract lithium, which is considered to be the single most important material in the battery market revolution.

With this new technique, businesses would be able to extract lithium in a little under 24 hours, dramatically improving their efficiency while also enabling them to bring products to market quicker.