Viva Energy Australia Pty Ltd (‘Viva Energy’) today announced the signing of a ‘Heads of Agreement’ (HOA) with American based low-carbon fuel producer, Gevo.
Viva Energy Australia CEO, Scott Wyatt welcomed the opportunity to work together with Gevo to investigate the feasibility of commercialising biofuels from regionally sourced resources within Australia.
“Viva Energy has already shown a strong commitment in supporting biofuel initiatives around the country having invested more than $20 million into biofuel projects, including supply agreements with local biofuels producers and the construction and commissioning of a new biofuels blending facility in Queensland”, Mr Wyatt said.
“Our partnership with Gevo, our membership of BioEnergy Australia, and our investment to date in biofuel projects illustrates Viva Energy’s commitment towards supporting more sustainable fuels into the future,” Mr Wyatt said.
Gevo uses low-carbon renewable resource-based carbohydrates as raw materials and is developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity.
Gevo CEO, Patrick Gruber said that the HOA with Viva Energy will support and strengthen the efforts by Gevo and the Queensland Government under the Waste to Biofuels funding initiative.
"Viva Energy is a key player in the Australian energy industry with significant supply chain infrastructure and strong customer relationships across the country, “Mr Gruber said.
“Through Viva Energy’s facilities in Queensland and as the operator of the Brisbane Airport hydrant system, we have previously worked with Viva Energy to supply Sustainable Aviation Fuel (SAF) to flights taking off from Brisbane.
“We are now advancing beyond just talk and demonstration of SAF, with our collaborative partnership not only strengthening our development efforts in Queensland, but bringing the prospect of renewable jet fuel and gasoline closer to reality in Australia.”
About Viva Energy
Viva Energy is one of Australia’s leading energy companies and supplies approximately a quarter of the country’s liquid fuel requirements. It is the exclusive supplier of high quality Shell fuels and lubricants in Australia through an extensive network of more than 1,260 service stations across the country.
Viva Energy Australia owns and operates the strategically located Geelong Refinery in Victoria, and operates bulk fuels, aviation, bitumen, marine, chemicals and lubricants businesses supported by more than 20 terminals and 50 airports and airfields across the country.
Gevo is commercialising the next generation of gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions.
In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion dollar business.