SCHIPHOL-RIJK (dpa-AFX) - Airbus SE (EADSF.PK) said on Thursday that it is joining hands with the Qantas Group, and the Queensland Government to invest in a North Queensland biofuel refinery, being jointly developed by Jet Zero Australia and LanzaJet.
The facility, funded under Qantas and Airbus Australian Sustainable Aviation Fuel Partnership, will convert agricultural by-products into jet fuel.
Qantas Group and Airbus will jointly invest AUD$2 million of an initial capital raising of AUD$6 million, with the Queensland Government contributing AUD$760,000.
The capital raised will be used to conduct a detailed feasibility study and early-stage project development.
Construction of the proposed plant is expected to begin in 2024. The facility will utilize LanzaJet's alcohol-to-jet technology to produce up to 100 million litres of sustainable aviation fuel or SAF per year.
In addition, the Qantas Group and Airbus have committed to investing up to $200 million to accelerate the establishment of a SAF industry in Australia.
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