IFM Investors, GrainCorp and Ampol has signed a three-way memorandum of understanding (MOU) to explore the establishment of an integrated renewable fuels industry in Australia.
As the initial priority under the MOU, Ampol and IFM will progress the feasibility assessment of a renewable fuels facility at Ampol’s Lytton Refinery in Brisbane and work with GrainCorp to explore the supply of homegrown feedstocks, including additional crushing capacity to supply canola oil, to the future plant.
The announcement builds on the existing feasibility work conducted by each of the parties to develop feedstock supply and production capacity of renewable fuels, including sustainable aviation fuel (SAF) and renewable diesel (RD) in Australia.
“Australia has a compelling competitive advantage in infrastructure, technical expertise and the availability of raw materials necessary to develop a renewable fuels capability,” says Ampol Managing Director and CEO Matt Halliday.
“A combination of Ampol’s existing infrastructure and capabilities, such as the Lytton site and Ampol’s broader distribution network with established channels to market and strong customer relationships, can play a pivotal role in creating a national renewable fuels ecosystem.
“The Australian-led team of Ampol, IFM and GrainCorp brings together expertise in complex infrastructure development, manufacturing and distribution, and supply chains.
“This foundational agreement is a significant step in establishing a renewable fuels industry in Queensland and Australia – creating benefits in energy security, supporting regional development and stimulating agriculture and manufacturing industries.”
