Jet Zero Australia has today welcomed Commonwealth and Queensland Government grant support worth $14 million to progress Project Ulysses, the company’s flagship Sustainable Aviation Fuel (SAF) project in Townsville.
The jointly announced government funding represents $9 million of funding from the Australian Renewable Energy Agency (ARENA) as part of ARENA’s Advancing Renewables Program, and $5 million funding from the Queensland Government through the Queensland New-Industry Development Strategy (QNIDS) grow local production capabilities and establish SAF value chains in Queensland.
Project Ulysses aims to convert Australia’s agricultural by-products into 102 million litres of SAF and 11 million litres of renewable diesel per annum.
The $14 million in Commonwealth and Queensland funding represents the largest government funding commitment to advance a SAF project in Australian history.
It follows over $30 million in private investment made into Jet Zero Australia by investors, including project partners Qantas, Airbus and Idemitsu Kosan.
The funding represents the largest government investment into the SAF industry in Australia and facilitates completion of Front-End Engineering and Design (FEED) activities and progresses at-scale commercial deployment of Alcohol-to-Jet (ATJ) SAF technology.
Jet Zero Australia CEO Ed Mason, pictured here with Scott Stewart MP and Les Walker MP, said the project is targeting to commence production by 2027.
“Delivering Project Ulysses will help capture the economic benefits of a domestic SAF industry for Australia which is expected to be worth $10 billion annually and create up to 26,200 jobs nationwide by 2030, with regional Australia positioned more than anywhere to benefit”, Mr. Mason said.
“The grant announcements today build on an early $760,000 grant received by Jet Zero from the Department of State Development and Infrastructure that supported the Project’s initial feasibility study. The Project will also contribute to domestic energy security by bolstering domestic jet fuel production for civilian and potentially military aircraft in an important city like Townsville.”
Minister for Climate Change and Energy, Chris Bowen, said: “The Albanese Government is supporting the airline industry to become more sustainable and drastically reduce emissions.
“This government committed $30 million for ARENA to invest in projects seeking to develop domestic sustainable aviation fuel production. It is great to see that investment starting to pay dividends.
“Townsville brings together outstanding renewable energy resources along with its port and its people. This brings our investment in renewable hydrogen and fuel projects in Townsville to well over $100 million.”
Resources and Critical Minerals Minister and Member for Townsville, Scott Stewart, said: “There is great potential in creating jobs through projects like this which is why we are working with the Commonwealth Government to back Townsville’s future.
“We know how important it is for the city to leverage off its existing strong industries, but we want to ensure there are new sustainable jobs for the future which is what this project will do.”
About ARENA’s SAF Initiative: ARENA’s Advancing Renewables Program and SAF Initiative is a $30 million funding program designed to support the development of new SAF projects using renewable feedstocks in Australia.
About the QNIDS: The Queensland New-Industry Development Strategy identifies six key enabling sectors – renewables manufacturing, batteries, biofutures, hydrogen, critical minerals and the circular economy. QNIDS leverages Queensland’s existing strengths to accelerate development of these industries and to diversify our economy while decarbonising it in addition to creating high value jobs.
For media inquiries please contact Jet Zero Australia’s Media Team on media@jetzero.com.au
