- Jet Zero Australia secures A$29 million for its Sustainable Aviation Fuel (SAF) project from Idemitsu, Qantas, and Airbus.
- The refinery in Queensland aims to produce 102 million litres of SAF and 11 million litres of renewable diesel annually.
Jet Zero Australia announced new funding of 29 million Australian dollars from Idemitsu, Qantas, and Airbus. This is for its Sustainable Aviation Fuel (SAF) project.
Jet Zero’s foundational investors, Qantas and Airbus, supported Idemitsu Kosan’s first investment outside Japan in a SAF project. Qantas and Airbus previously pledged $2 million and established a $200 million fund to integrate at least 10 per cent SAF into Qantas’ fuel mix by 2030.
The refinery to be set up in Queensland will convert bioethanol from domestic agricultural by-products into 102 million litres of SAF and 11 million litres of renewable diesel annually. When blended with conventional jet fuel, SAF can reduce carbon emissions by up to 80 per cent.
(Conversion rate: $1 = 1.5131 Australian dollars)