A$500K - HAMR Energy awarded government grant
Link to Government Announcement
HAMR Energy, in collaboration with the Victorian Government, is poised to revolutionize the shipping industry with an innovative project set to transform Portland, Victoria, into Australia's foremost green shipping fuel production hub. Backed by a generous investment of $500,000 from the Portland Diversification Fund, this endeavor marks a significant step towards a sustainable, low-carbon future.
The grant will support the next phase of engineering design and planning works to establishing a state-of-the-art plant dedicated to converting plantation forestry residue into green methanol. Complementing this facility will be a 100-megawatt electrolyser, designed to produce renewable hydrogen from water.
Shipping accounts for over 2% of global greenhouse gas emissions, prompting the urgent need for sustainable alternatives. Green methanol, a cleaner, renewable fuel source, offers a remarkable 90% reduction in carbon intensity compared to conventional heavy fuel oil. Portland, strategically situated near Australia's largest plantation forestry production area, is ideally poised to house this pioneering renewable methanol facility.
Portland's deep-water port, a bustling gateway for 300 vessels and an annual throughput of approximately 5 million tonnes of forestry products, further underscores the city's suitability for this groundbreaking initiative.
This project aligns seamlessly with the Victorian Government's visionary $17.4 million Portland Economic Diversification Plan, a testament to their steadfast commitment to fostering long-term economic prosperity in the Glenelg Shire. Since 2015, the Victorian Government has allocated over $41 billion towards rural and regional development, driving transformative growth and generating a surge in job opportunities across local communities.
Minister for Energy and Resources, Lily D’Ambrosio, hailed this announcement as a monumental stride towards Victoria's burgeoning renewable hydrogen industry, a force that will fortify the renewable energy transition and play a pivotal role in decarbonizing hard-to-abate sectors, including shipping.
Member for Western Victoria, Jacinta Ermacora, echoed this sentiment, emphasizing the government's unwavering dedication to fortifying Portland's economic resilience and ensuring a robust and diversified economy for years to come.
David Stribley, Director and Company Secretary of HAMR Energy, expressed his enthusiasm for contributing to Victoria's ascension as a renewable energy production powerhouse and fervently endorsed the accelerated decarbonization of the global shipping industry.
In this groundbreaking endeavor, HAMR Energy, in partnership with the Victorian Government, is not only propelling Portland to the forefront of sustainable energy innovation but also setting an inspiring example for regions across the globe. This visionary project is a testament to the power of strategic planning, innovation, and community-led efforts in shaping a more sustainable and prosperous future for all.
