Australian government to invest in two biofuel projects

The Australian Government announced that it will invest A$9.8 million (US$10.2 million) in two projects through the Australian Renewable Energy Agency’s (ARENA) Advanced Biofuels Investment Readiness Program.
Minister for Resources and Energy Martin Ferguson announced the recipients of these funds will be Licella Pty Ltd. and Muradel Pty Ltd. Licella will receive A$5.4 million (US$5.6 million) to assess the feasibility of constructing its first pre-commercial biofuel plant while Muradel will receive A$4.4 million (US$4.6 million) to demonstrate its algal biofuel technology.
“Australia has a chance to capitalise on a number of competitive advantages, such as our abundant sunshine and climate, to build an advanced biofuels industry that will help diversify our liquid fuel sources and reduce greenhouse gas emissions,” Ferguson said.
“Following earlier Australian Government support, ARENA is making these investments after seeing both of the home-grown companies prove the potential of their advanced biofuel technologies.
“The new investments are expected to take the local industry forward by creating the next step in the commercialisation pathway for these advanced biofuel technologies.” (February 28, 2013)