The Green Car Congress blog has an article on a CO2 to fuels process by a company called Carbon Sciences.
1) The use of biocatalysts (enzymes?) to effect the transformations under mild conditions.
2) The use of relatively “dilute” CO2 streams, which could lower the costs for CO2 separation from power plant-flue-gas streams.
My graduate research is in a closely related area, the photocatalytic conversion of CO2 to fuels in which CO2 and water react upon light-induced electron transfer to/from a suitable photosensitizer. This reaction is not very efficient. On the other hand, the heterogeneous hydrogenation of CO2 with H2 is fairly effective (but involves high temperatures), a Japanese company, Mitsui Chemicals will begin the construction of a pilot plant this year to produce 100 T/year of methanol (CH3OH) from CO2 and solar-produced hydrogen.