HAMR Energy revs up with funding round
Australian Financial Review article // “A sustainable fuels startup, chaired by former ExxonMobil executive Richard Owen, is on the hunt for $10 million to break into the nascent green aviation fuel industry and develop its pipeline of low-carbon liquid fuel projects.” // Read full media release below
A sustainable fuels startup, chaired by former ExxonMobil executive Richard Owen, is on the hunt for $10 million to break into the nascent green aviation fuel industry, and develop its pipeline of low-carbon liquid fuel projects.
HAMR Energy has launched its Series A funding round, hitting up high-net-worth individuals and venture capitalists along with energy, fuel, aviation and shipping companies. Strategic investors keen to secure early access to offtake agreements are in discussion to cornerstone the raise, people briefed on the matter said. Private capital will take up the rump of the deal.
HAMR Energy wants to turn biomass like timber offcuts and sawdust into fuel for shipping and aviation, betting on future demand from logistics and transport operators committed to decarbonisation. Qantas has committed to 10 per cent sustainable aviation fuel use in its mix by the end of the decade and 60 per cent by 2050, while global shipping giant Maersk ordered six vessels powered by green fuels in 2023.
The company is eager to kickstart four refineries. This includes its most advanced project, the Portland Renewable Fuels in Victoria, which is forecast to produce enough carbon methanol to power 45,000 one-way flights from Melbourne to Sydney every year. It will use the fresh funds to move through the development and planning phases. Sustainable aviation fuels are already being used by global airlines like American Airlines, British Airways and Qatar Airways and are available in key transport hubs like Los Angeles International Airport, Amsterdam Airport Schiphol and Changi Airport. But, they are not yet manufactured in Australia.
The key issue for industry participants is return on investment – how much it will cost to build the refineries and how much it can sell its product for. Those seeking to distribute fuels to the United States have also been impacted by tariffs
HAMR is capitalising on strong policy tailwinds, including recent state and federal initiatives to support domestic fuel production and decarbonisation.
Jet Zero Australia, a privately owned group backed by Airbus, LanzaJet and Qantas, is among the most advanced locally, working on building a plant in Townsville that would turn sugarcane and ethanol into aviation fuel. BHP had a project to produce sustainable fuels at the site of its Kwinana oil refinery, but put its efforts on ice in February.
Read full article here: https://www.afr.com/street-talk/sustainable-fuel-hopeful-hamr-energy-revs-up-with-funding-round-20250701-p5mblj
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HAMR Energy is an Australian energy company dedicated to accelerating the nation’s transition to low-carbon fuel. With our expertise in intricate energy projects, we produce green methanol to help decarbonise the shipping sector. We are committed to reducing carbon emissions and Australia's reliance on fuel imports. This will enhance energy security and build the economy.
We have the expertise, technology and vision to produce one million tonnes of green methanol per year by 2030, if we get the right backing and support.
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Connect with the team below:
Email: contact@HAMRenergy.com
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Nick Albrow | Patterson Advisory
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