Jet Zero Australia secures record government investment for Project Ulysses

Jet Zero Australia has welcomed a Commonwealth and Queensland Government grant support worth $14 million (€12.5 million) to progress Project Ulysses - the company’s flagship sustainable aviation fuel (SAF) project in Townsville.
The jointly announced government funding represents $9 million (€8 million) of funding from the Australian Renewable Energy Agency (ARENA) as part of ARENA's Advancing
Renewables Program, and $5 million (€4.5 million) funding from the Queensland Government through the Queensland New-Industry Development Strategy (QNIDS) grow local production capabilities and establish SAF value chains in Queensland.
Project Ulysses aims to convert Australia’s agricultural by-products into 102 million litres of SAF and 11 million litres of renewable diesel per annum.
The $14 million (€12.5 million) in Commonwealth and Queensland funding represents the largest government funding commitment to advance a SAF project in Australian history.
It follows over $30 million (€27 million) in private investment made into Jet Zero Australia by investors, including project partners Qantas, Airbus and Idemitsu Kosan.
The funding represents the largest government investment into the SAF industry in Australia and facilitates completion of Front-End Engineering and Design (FEED) activities and progresses at-scale commercial deployment of Alcohol-to-Jet (ATJ) SAF technology.
Jet Zero Australia CEO Ed Mason said the project is targeting to commence production by 2027.
“Delivering Project Ulysses will help capture the economic benefits of a domestic SAF industry for Australia which is expected to be worth $10 billion annually and create up to 26,200 jobs nationwide by 2030, with regional Australia positioned more than anywhere to benefit,” Mason said.
“The grant announcements today build on an early $760,000 grant received by Jet Zero from the Department of State Development and Infrastructure that supported the Project’s initial feasibility study.”