Eco Innovator March 2012

Government Policy

Australia Attractive for Advanced Biofuels

"There is intense international interest in the development and production of advanced biofuels, most notably from the United States' Navy, which is seeking to source 50 per cent of its energy from renewables by 2020. Given the sheer size and geographic disbursement of the US Navy, this policy has the potential to be a significant game changer for the biofuels industry globally," says the minister for Resources and Energy, Martin Ferguson.

"The United States is looking to biofuels to reduce its dependence on imported oil and decrease the environmental impacts of their energy use," he said.

Mr Ferguson recently visited the US to raise the profile of Australia's clean energy capabilities and attract investors to Australia who are looking for new international sites to develop advanced biofuel projects.

Advanced biofuels are seen as the future of the biofuels industry because they are not derived from or compete with food sources and do not deplete native forests.

The US has committed to tripling biofuel production by 2022, and in the last two years has announced 40 advanced biofuels projects valued at over US$850 million. By 2016, the US Navy under secretary Ray Mabus also plans to deploy a "Great Green Fleet" powered entirely by alternative fuels, including advanced biofuels.

"Australia has great potential to grow a range of non-food crops for energy. We also have world-class scientists and expertise in managing large clean energy projects," said the minister.

"The Australian Government recognises the growing role Australia could play in the research and commercialization of advanced biofuels as they emerge as a growing energy source globally."





Search Eco Investor