The Queensland Government has given the company $18.56 million out of its $180.6 million Sovereign Industry Development Fund, while the Australian Renewable Energy Agency has handed over $3.15 million and Climate Tech Partners has awarded the company $2 million, with support from Qantas and Airbus.
Wildfire Energy will use the funds to build the Bulwer Island Biofuels Hub, which will use the company’s locally developed Moving Injection Horizontal Gasification (MIHG) technology to produce electricity from non-recyclable waste in its first phase, before later moving into the production of sustainable aviation fuel (SAF).
For the business events sector, the development of a local SAF industry will be critical to the decarbonisation of events, with up to 80 per cent of event emissions coming from air travel.
Australia isn’t making SAF locally yet, but there have been a variety of investments in recent years – in Queensland particularly – in facilities that will be able to produce SAF.
The major investment in Wildfire Energy with a view to future SAF production comes not long after the International Air Transport Association (IATA) lamented the disappointing levels of SAF production around the world. By the IATA’s estimation, SAF produced around the world this year will make up less than one per cent of total aviation fuel consumed.
The IATA has previously suggested that jet fuel will need to be 65 per cent SAF in order for the commercial aviation industry to reach net zero by 2050.
Wildfire Energy’s biofuel hub will be located right beside Brisbane Airport, ideal for future SAF production and use.
