The Biofuels Association of Australia (BAA) welcomes the Queensland Government announcement of $20 million in funding for an Asia-Pacific hub for biofutures industries.
Queensland Premier Annastacia Palaszczuk launched the Government’s Biofutures 10-Year Roadmap and Action Plan during a reception in San Francisco yesterday.
“The US Navy, the Royal Australian Navy and the major airlines all see Queensland’s potential to become a biofuels powerhouse,” she said.
“We have the will and determination to make this new industry a reality, and now through this funding we have the means to do it.”
BAA chief executive Mark Sutton said the biofuels industry was well-placed to grow further in the next few years.
“The introduction of a biofuels mandate commencing on January 1 next year is a big step in the right direction, but to get strong investment in the industry you need a mandate of 5% or higher,” he said.
Mr Sutton said there was still work to be done in educating motorists about biofuels, including the environmental benefits and that it was now compatible with most cars.