Australian low-carbon fuels company HAMR Energy has entered into a Memorandum of Understanding with chemical engineering leader thyssenkrupp Uhde to develop the Portland Renewable Fuels Project in Victoria, valued at $2 billion.
This initiative aims to decarbonise the shipping sector by producing 300,000 tonnes per annum of Green Methanol using thyssenkrupp Uhde’s advanced technologies.
The collaboration will see thyssenkrupp Uhde supply a facility that integrates its PRENFLO gasification technology with its innovative uhde green methanol technology.
This facility will convert forestry residue into high-value green chemicals, marking a significant step in HAMR Energy’s goal to develop one million tonnes of Green Methanol by 2030.
David Stribley, Director of HAMR Energy, expressed enthusiasm about the partnership, highlighting its alignment with the company’s vision to meet the growing demand for clean fuels in the global shipping industry.
“Green Methanol is an environmentally friendly, market-ready solution that will fuel ships around the globe,” Stribley stated.
He emphasised the strategic importance of the partnership in scaling operations globally and creating local jobs in Australia.
thyssenkrupp Uhde, based in Germany, brings substantial expertise and scale to the project.
CEO Nadja Håkansson noted that the agreement aligns with thyssenkrupp’s purpose of creating carbon-free value chains.
“We are excited to work alongside HAMR Energy on this important project, tapping into the demand for shipping fuel while making a real difference to a carbon-intensive industry,” Håkansson said.
The Portland Renewable Fuels Project is expected to be operational by 2029 and aims to produce green methanol equivalent to removing 80,000 cars or decarbonising 150,000 tonnes of fossil fuels.
The Victorian government is supporting the project with a $500,000 feasibility study grant through its Portland Diversification Fund.
Minister for Energy and Resources, Lily D’Ambrosio, highlighted the project’s role in decarbonising the shipping sector and accelerating the development of renewable hydrogen and fuels sectors, while Minister for Regional Development, Gayle Tierney, emphasised its potential to drive economic growth and innovation in Portland and southwest Victoria.
HAMR Energy has also engaged Sayers Group as strategic advisers, further strengthening the project’s development framework.
With Victoria’s competitive advantages and ambitious renewable energy targets, the Portland Renewable Fuels Project is poised to position Australia as a key player in the global sustainable fuels market.