Jet Zero Australia raises $21.6 million for SAF plant
In Australia, Jet Zero Australia said it has achieved three major milestones for Project Ulysses, its proposed commercial-scale SAF and renewable diesel (RD) refinery in Townsville, Australia.
The firm said it has completes a $21.6 million funding round, backed by Qantas and Airbus, while it welcomed Posco International as a new strategic investor. The company also said it has secures final development approval for its proposed refinery site in Townsville from the Queensland Government.
The funding round, managed by Barrenjoey, received strong institutional investor support, including investment from Qantas and Airbus. The proceeds will primarily fund completion of Front-End Engineering Design (FEED) and the project’s continued progression towards Final Investment Decision (FID) and construction.
The project is expected to create approximately 1,000 jobs during construction and 100 permanent operational roles, while helping establish a broader Australian biofuels industry capable of supporting more than 18,000 jobs by 2040 across feedstock production, agriculture, refining, manufacturing and logistics, the company added.
Category: SAF
