BIOREFINERY INTEREST CRACKS THE TON

A whopping 100 companies have indicated interest in biorefining in Queensland, as the 18 January deadline looms for the Palaszczuk Government’s Biofutures Acceleration Program.

Minister for State Development Dr Anthony Lynham said the program aims to create jobs and drive investment in regional Queensland by attracting companies to build commercial-scale biorefineries that process materials such as agricultural and industrial waste.

“As of today, 100 parties have downloaded the Expression of Interest documents from the Department of State Development’s website,” Dr Lynham said.

“We are looking for one or more proponents with the expertise and insight to help take Queensland’s biofutures industry to the next level.

“The Palaszczuk Government’s vision is to create a $1 billion sustainable export-oriented industrial biotechnology and bioproducts sector in Queensland by 2026.

“We have allocated almost $20 million in funding over three years to realise this ambition and support the Queensland Biofutures 10-Year Roadmap and Action Plan.

“We are reaching out to international and national decision makers in key overseas markets such as the USA, Asia, Brazil and Canada to promote this unique opportunity to develop a biorefinery in Queensland by inviting EOIs.

“The global market for industrial biotech and bioproducts is expected to be worth $1.1 trillion by 2022 and Queensland is well positioned to take advantage of this growing industry.

“Queensland has enormous potential as one of the world’s leading biorefinery locations as it offers an ideal mix of raw materials, subtropical climate, established infrastructure and close proximity to international markets.

“We aim to make the most of our many bio-advantages as a state, leading to future job creation and investment for regional Queensland.”

Dr Lynham said the Palaszczuk Government had already had success in attracting bioindustry companies to the state.

“We have established a partnership with the US Navy – potentially the biggest biofuels customer in the world - and the only partnership of its kind with a state government anywhere in the world.

“We also attracted Southern Oil to Queensland to develop Australia’s first complete renewable fuels pilot plant on the site of its world-leading Northern Oil Refinery in Gladstone.

“The biofuels pilot plant scheduled to open this year is the next step towards a $150 million, commercial-scale biofuel plant.”

The Government’s Biofutures Acceleration Program Invitation for Expression of Interest is available via www.dsd.qld.gov.au/bap.

ENDS

Date:                           04 January 2017

Media Contact:          Benjamin Mulcahy 0419 562 389