Jet Zero Australia has achieved what it terms a ‘significant milestone’, having successfully received funding commitments of A$29 million ($19 million). This will be used to support the flagship alcohol-to-jet sustainable aviation fuel Project Ulysses initiative in North Queensland, alongside investing in other renewable fuel opportunities in the region.
“The ongoing support from Qantas ands Airbus… as well as ongoing investment from our existing shareholders Chancery Hill, Dragonfly Enviro Capital and Audacy has remained crucial to the project’s success,” commented Jet Zero Australia CEO Ed Mason.
He also welcomed one of Japan’s largest energy conglomerates, Idemitsu, as a new strategic shareholder; able to provide “significant financial backing and capabilities in project development and renewable fuels”. Idemitsu’s investment agreement represents the company’s first engagement with an overseas SAF project.
Jet Zero Australia raises $19m in funding
