Australia promises US$735mil to develop biofuel industry
- The Albanese Government announced a $1.1 billion investment in low-carbon liquid fuels, benefiting private businesses and farmers, as stated by Treasurer Jim Chalmers and Climate Change and Energy Minister Chris Bowen in Brisbane.
- CSIRO projected that a low-carbon liquid fuel industry could provide between $6 billion and $12 billion annually in direct economic benefits.
- Bowen noted this investment would create more Australian jobs, increase farm profitability, and lower emissions, as liquid fuels represent a third of Australia's emissions.
- Bioenergy Australia called this investment 'ground-breaking,' asserting it will promote decarbonization and attract global investors to Australia's low-carbon fuel development.
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Government unveils $1.1 billion low-carbon fuel strategy amid climate push
A low carbon strategy was placed on centre stage by the Federal Goverment today. Alternatives to fossil fuels are provided by canola, sorghum and sugar. The government has invested more than $1 billion to secure the supply of low carbon liquid fuel sources was announced today.
Federal Govt pledges $1.1B towards low carbon fuels - Prime Mover Magazine
A Mack tanker at a service station in Burpengary, QLD. Image: KRUTOPIMAGES/stock.adobe.comLow carbon liquid fuels are set to receive a $1.1 billion injection from the Federal Government. The investment, according to a statement issued today, has been made to strengthen supply chains for the more sustainable fuels that can power trucks, cargo ships and planes into the future. The new ten-year Cleaner Fuels Program will stimulate […] The post Fede…
Australia Bets Big on Biofuels With $735 Million Investment
Australia is making a major bet on biofuels as part of its net-zero ambitions. On Wednesday, the government announced it will invest A$1.1 billion (US$735 million) over the next decade to develop a domestic low-carbon fuels industry, a move widely welcomed by the country’s powerful agricultural sector. The funding package, which will be spread over 10 years, is designed to unlock private sector investment in next-generation fuels such as biodies…
Australia promises US$735mil to develop biofuel industry
CANBERRA: The Australian government said on Wednesday it would invest A$1.1 billion (US$735 million) in the development of a low-carbon fuels industry, a move welcomed by farm groups, who hope it will boost demand for biofuel feedstocks like canola and sugarcane. © New Straits Times Press (M) Bhd
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