After the signing of Memorandum of Understanding (MOU) between Ampol, GrainCorp and IFM to explore establishing Australia’s own integrated renewable fuels industry, a feasibility assessment of a renewable fuels facility in Brisbane, including a supply of local homegrown feedstocks, will be an initial priority.
An Australian renewable fuels industry, which would include both sustainable aviation fuel and renewable diesel, will significantly reduce our emissions and ultimately provide cheaper, cleaner and more secure fuel to the transport sector.
This industry announcement follows the Government’s Budget commitments last May for a number of measures to support a domestic renewable fuels industry.
This includes investing $1.7 billion over the next decade in the Future Made in Australia Innovation Fund, to support net zero innovations including low-carbon liquid fuels.
The Government also committed $18.5 million to develop a certification scheme for these fuels and $1.5 million for an impact analysis in relation to demand-side measures.
Infrastructure, Transport, Regional Development and Local Government Minister Catherine King said in a statement, “It’s great to see companies like Ampol, GrainCorp and IFM also recognising the benefits and importance of supporting Australia’s very own industry.
“As part of the Future Made in Australia plan, the Government is fast-tracking support for a local renewable fuels industry – from farm and feedstock to bowser – to help ensure our aviation, heavy vehicle, rail and maritime sectors are sustainable.
“I wish them all the best with their joint venture and look forward to advancing our own commitments to unlock Australia’s renewable fuels potential.”
Climate Change and Energy Minister Chris Bowen said, “Supporting a renewable fuels industry in Australia is about so much more than slashing transport sector emissions, it’s also about creating a new industry and jobs to ensure we continue to thrive in an ever-changing world.
