A consortium including Porsche has built an installation that can make gasoline out of water and air. The process used “wind power to electrolyze water into hydrogen and oxygen. The hydrogen is then combined with carbon captured from the air or industrial sources to synthesize methanol, which in turn can then be converted into longer hydrocarbons to be used as fuel.”
Porsche plans to use the initial output to fuel their race cars, but eventually scale it up to industrial levels. It’s wildly expensive now – about ten times the cost as producing petroleum-based fuels.
The big problem with converting CO2 into fuel is where to get the CO2 – it’s all around us, but not in easily convertible forms.