An Ontario researcher says he has discovered a new and inexpensive way to convert carbon dioxide into a liquid fuel using sunlight.

University of Waterloo engineering professor Yimin Wu says the process mimics photosynthesis, which is why he's dubbed it "artificial leaf."

He says the discovery could have many applications and help in the fight against global warming.

Carbon dioxide conversion has long held the potential to reduce greenhouse gases that contribute to climate change.

Wu says the oil, steel and automotive companies could use the technology to reduce their carbon dioxide emissions.

The study was published today in the journal Nature Energy.