In Australia, GrainCorp reported that global fund manager IFM Investors, GrainCorp and Australia’s largest transport energy provider Ampol have signed a three-way Memorandum of Understanding 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 firm noted that 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 SAF and renewable diesel in Australia. Danny Elia, Global Head of Asset Management, IFM Investors, said: “As a major investor in airports, we have a significant interest in facilitating cleaner flying so we are proud to support this significant step in developing a SAF industry right here in Australia. IFM’s long term investment approach is key to this emerging industry – we bring the scale, skill and dependability needed to support our iconic Australian partners, GrainCorp and Ampol, to kickstart a new industry that will create new jobs and economic opportunity.”
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