- Boeing invests in the development of Wagner’s sustainable fuels refinery in Brisbane to further advance SAF production in Australia
- Investment builds on Boeing and Wagner’s partnership announced earlier this year
BRISBANE, Queensland, July 24, 2024 – Boeing [NYSE: BA] has become an early investor in Wagner Sustainable Fuels (“Wagner”) to support the development of a sustainable aviation fuels (SAF) production facility at the Port of Brisbane, advancing the development of a domestic Australian SAF market.
Boeing’s financial contribution into the Wagner refinery is part of its strategy to support local SAF production in order to meet the global SAF demand as it remains the greatest technology to help decarbonize aviation towards 2050. Currently SAF represents 0.1% of global jet fuel use.
“We’re proud to invest in this project because it will make a real difference in developing a domestic SAF industry,” said Kimberly Camrass, Boeing’s sustainability lead for Australia and New Zealand. “The local SAF production is crucial not only to achieve Australia’s own climate goals, but also to support the global commercial aviation sector’s commitment of net zero CO₂ emissions by 2050.”
“Given Australia currently imports 90% of its liquid fuel including jet fuel, and the demand is expected to increase by 75% towards 2050, domestic SAF facilities like this could also strengthen the nation’s fuel security,” she added.
Building on the initial Boeing-Wagner partnership announced in April, Boeing’s investment will be directed towards an engineering study required for the eventual construction of the SAF refinery. The Port of Brisbane facility will generate SAF from LanzaJet’s Alcohol-to-Jet (ATJ) technology that converts ethanol produced from renewable feedstocks such as residual waste via the carbon recycling technology of LanzaTech (Nasdaq: LNZA).
“Our partnership with Boeing to advance the Wagner SAF refinery in Brisbane is a commitment to proactively grow the SAF industry in Australia,” said Matt Doyle, Wagner Sustainable Fuels Chief Executive Officer. “The investment from the Queensland Government and Boeing will underpin Australia’s first, fully integrated SAF production facility. “It will create local jobs, contribute to fuel security and reduced greenhouse gas emissions from aviation,” he said.
CSIRO and Boeing’s Sustainable Fuels Roadmap in 2023 identified that domestic SAF production not only enables local fuel production capacity to meet commercial demand, but also contributes to sovereign fuel security and regional jobs.
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About Boeing
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.
About Wagner Sustainable Fuels
Wagner Sustainable Fuels is company focused on reducing CO2 emissions from Australia’s hard to abate sectors including aviation and heavy transport through the supply of SAF and Renewable Diesel (RD). As part of the Wagner family’s group of companies, Wagner Sustainable Fuels is leading the development of renewable liquid fuels through the implementation of SAF blending facilities and renewable diesel supply chains in the near term and SAF/RD production facilities from waste products in line with global demand and Australia’s need to reduce GHG emissions across hard to abate sectors.