Queensland Government Eyes Biofuels Fund to Help Economy

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February 10, 2016

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(Biofuels International) The Australia-based Queensland Government is to investigate the establishment of a biofutures industry development fund, which would look to financially assist first mover investment in the biofuels industry.

According to local news website Daily Mercury, Premier Annastacia Palaszcuk made the announcement following the second meeting of her Biofutures Cabinet Committee.

“I’ve said it before and I’ll say it again: biofuels could have the same transformative effect on Queensland’s economy as the LNG industry, but it won’t happen without Government commitment,” Palaszcuk said.

“We already have a very constructive relationship with the US Navy, which is extremely interested in Queensland’s capacity to produce biofuels for their fleet.”

She added that global companies like food and beverage giant Asahi are tapping into Queensland’s research expertise in that space.

According to the news website, Palaszczuk said the Biofugres Cabinet Committee had determined that an “early-investment” development fund should be considered. READ MORE and MORE (Sydney Morning Herald)

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