Has this got any chance of reducing our CO2 footprint?
With a feed of CO2 plus electricity, you can make a number of chemicals. Some companies look to make fuels - but there's plenty of other chemicals that can be made this way. Fuels are attractive, but also borderline thermodynamically impossible to make profitable vs petrochemical fuels, unless energy is free. Even still, SAFs (sustainable aviation fuels) and other green-washed products can be profitable here. There's also a few use cases for being able to generate fuel in remote places (space, at sea, military applications, national security in case of pipeline blockade)
We're producing an unbelievable amount of solar energy right now, and that amount is skyrocketing. Especially in China, who seems at the front of a shift toward renewables.