OXFORDSHIRE-based company Cella Energy is developing a fuel that could be used instead of petrol and would cost just 19 pence per litre.
The fuel uses hydrogen and is described by Cella energy as 'the perfect fuel' as it produces three times as much energy than its equivalent weight of petrol and when it burns its by-product is water.
At 19p pence per litre it would cost just £3.23 to fill a typical 17 litre tank, however the government would typically tax it so that its price at the pump would be around 60 pence per litre.
At the moment, at £1.28 for a litre of petrol, 48 pence is the petrol, 59p is fuel duty and 21 pence is VAT.
Stephen Voller, Chief Executive of Cella Energy said: "Early indications are that the micro-beads can be used in existing vehicles without engine modification. The materials are hydrogen-based, and so when used produce no carbon emissions at the point of use, in a similar way to electric vehicles."
Currently the product is still in testing and is expected to be available in three to five years.
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