In Singapore, the Business Times reported that the Australian government said it would invest $731 million in the development of a low-carbon fuels industry.
The money to be released over 10 years and is intended to stimulate private investment in products like biodiesel and sustainable aviation fuel, the government said.
Australia is a major producer of crops such as canola, sugarcane and sorghum, that can be used to make fuel.
“Thanks to our advanced farming practices and access to cheap and reliable renewable energy, Australia is in an enviable position to produce cleaner, low-carbon liquid fuels that jets, ships, construction machines and heavy trucks need to reach net zero,” the government statement said.
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Tags: Australia, biofuels
Category: Policy
