Perth-based Renewable.bio has completed pre-contract terms for a long-term supply agreement with an international biofuels’ producer. The terms of the contract outline a 10-year agreement valued at over $200 million for the supply of Australian bioenergy from Australian forestry to meet international renewable energy and sustainability requirements. Source: Timberbiz
“This supply contract for Australian bioenergy will create employment opportunity for 100’s in regional Australia at the same time providing a pathway for the development of Australia as a bioenergy hub,” Angelo Dabala, CEO of Renewable.bio said.
“Agricultural and forest industry residue is an ideal source for conversion to bioenergy and as these resources are in regional Australia, this opportunity will create new industry development and lead a diverse economy.”
The planned supply of bioenergy will provide feedstock for a new industrial sized second-generation biofuels production facility currently under development.
Second generation biofuels require high capacity, consistent and certified biomass to underwrite the largescale capital and production requirements for modern biofuel demand.
The bioenergy and biofuels global market is estimated to collectively have a value of US$153 Billion by 2024, this contract supports Australia’s development of a biofuels industry and helps place bioenergy as a sustainable addition to Australia’s renewable energy future.