GrainCorp, IFM Investors team up for first SAF facility in Australia
Australian Agribusiness company GrainCorp signed an MoU with the IFM Investors to explore the possibility of producing Sustainable Aviation Fuel (SAF) in Australia.
“The need for sustainable aviation fuel continues to grow and, here in Australia, we have a significant opportunity to be at the forefront of global feedstock and renewable fuel supply,” Robert Spurway, CEO, GrainCorp.
The companies will conduct feasibility studies on sustainable fuel production in Australia, through long-term domestic feedstock supply including waste and residues, crop-based oils, and bio-organics.
The feasibility initiative evaluate the long-term feedstock supply, key feedstock and SAF end user market locations, sustainable farming practices and long term potential for a major sustainable fuels production industry in Australia.
The companies will also carry out a feasibility study for a SAF facility capable of producing a targeted 720,000 metric tonnes of renewable fuels annually.
IFM Investor’s portfolio includes major airports in Australia and other airports globally, while GrainCorp is the largest processor of renewable feedstocks in Australia and New Zealand.
Earlier this year, the Australian National Science Agency announced its plan to developing the local SAF industry to produce around 5bn litres by 2025.