Ethtec plans to construct a $30 million purpose-built facility in the Hunter Valley, expected to produce 270,000 litres of biofuel per annum – with the aim of making the technology available to the commercial market within five years.
The company is seeking to make advanced biofuels a viable option to support the reduction of greenhouse gas emissions particularly in the transport industry, which contributes up to 16% of Australia’s total emissions.
The global market for biofuels or ethanol is in the region of 100 billion litres but by 2050 the International Energy Agency estimates that demand will increase to over 900 billion litres.