Horizon Power and Futureenergy Australia explore renewable diesel opportunities.
Horizon Power announce it has signed a non-binding Memorandum of Understanding with FutureEnergy Australia to investigate opportunities to establish a renewable diesel industry in regional Western Australia.
FutureEnergy Australia, an incorporated joint venture between WA based Carnarvon Energy and Frontier Impact Group, was formed to build and operate renewable fuel biorefineries in regional Western Australia.
The Memorandum of Understanding establishes a clear path forward for the two organisations to explore opportunities for the development and production of renewable diesel in Western Australia.
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Horizon Power’s Chief Financial Officer, Mike Houlahan said the arrangement with FutureEnergy Australia provides the potential to accelerate decarbonisation of regional power generation through renewable diesel while also supporting regional economic growth and job creation.
Mike Houlahan, Chief Financial Officer, said:
We see renewable diesel as a future low emission fuel that can be used within our energy systems as an alternative to fossil fuel diesel or more expensive energy sources like battery energy storage systems.
“Developing a local supply of zero emission renewable diesel has the potential to help reduce carbon emissions across a number of industries. The potential to also establish an industry in regional Western Australia will also create regional jobs and drive economic growth.”
“We look forward to working with FutureEnergy Australia to explore opportunities to support Western Australia’s emerging renewable diesel industry.”
Highlights:
- Horizon Power executes Memorandum of Understanding (MOU) with FutureEnergy Australia to investigate renewable diesel opportunities in Western Australia
- FutureEnergy Australia is an incorporated joint venture between Carnarvon Energy and Frontier Impact Group
- A local zero emission, renewable diesel industry is a potential decarbonisation pathway
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Horizon Power and FutureEnergy Australia explore renewable diesel opportunities, Jully 12, 2022
