Jet Zero Australia gets $19m for its SAF project

Jet Zero Australia, a biofuel refiner, has secured new funding of A$29 million ($19.2 million) for its Sustainable Aviation Fuel (SAF) project, Reuters reported on Tuesday.

The funding comes from Idemitsu, Qantas, and Airbus, with Idemitsu making its first investment in a SAF project outside Japan.

Qantas and Airbus, who are foundational investors in Jet Zero Australia, previously committed A$2 million to the project.

The refinery, located in Queensland, will produce up to 102 million litres of SAF and 11 million litres of renewable diesel annually by converting bioethanol from agricultural by-products.

SAF can reduce carbon emissions by up to 80 per cent and will help Qantas achieve its goal of using at least 10 per cent SAF in its fuel mix by 2030.