Ethanol has five times higher volumetric energy density (6.7 kWh/L) than hydrogen (1.3 kWh/L) and can be used safely in fuel cells for power generation. In Brazil in particular there is great interest in better fuel cells for ethanol as that country distributes low-cost ethanol produced in a renewable way from sugar cane. Theoretically, the efficiency of an ethanol fuel cell should be 96 percent, but in practice at the highest power density it is only 30 percent, due to a variety of reasons. So there is much room for improvement.
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Source: Phys.org