Australia allocates $735 mln for biofuels development

stimulate private investment in sustainable aviation fuel and biodiesel production. Australia is one of the world’s leading producers of fuel crops such as sugarcane, canola, and sorghum. Australia imports most of its gasoline and exports a significant portion of these crops. Australian canola is a key feedstock for the European biodiesel sector. The statement stated that “thanks to our advanced agricultural practices and access to affordable and reliable renewable energy, Australia has an enviable opportunity to produce cleaner, lower-carbon liquid fuels for aircraft, ships, construction equipment, and heavy trucks to achieve net-zero emissions.” Jim Chalmers, Australia’s Minister for Finance, stated, “This is a down payment on developing a completely new industry in Australia.” The goal is for Australians and our economy to be major beneficiaries of the global transformation toward net-zero emissions. Australian farming groups have been lobbying for government investment in ...