Gevo, Viva sign agreement to develop renewable hydrocarbons
March 10, 2020
Gevo, Inc. has signed a Heads of Agreement (HOA) with Viva Energy Australia Pty Ltd., one of Australia’s leading energy companies and the exclusive supplier of Shell fuels and lubricants in Australia.
The HOA will further solidify both parties’ intent to work collaboratively on activities in Australia to establish the technical and commercial feasibility of converting biomass into sustainable jet fuel and renewable gasoline from regionally sourced renewable resources. Under the HOA, both Gevo and Viva will develop and enhance commercial and advocacy relationships to further foster the use of renewable hydrocarbons, including sustainable aviation fuel (SAF) in Queensland and, more broadly, the country of Australia. Ultimately, this HOA will support and strengthen the efforts by Gevo and the Queensland government under the Waste to Biofuels funding initiative.
“Viva Energy is a key player in the Australian energy industry with a refinery, more than 20 import terminals, and supplies more than 1,260 service stations across the country. Through their terminals in Brisbane and as the JV operator of the Brisbane Airport hydrant system, we have worked with Viva Energy on several occasions to supply SAF to Queensland-based flights. We are now advancing beyond just talk and demonstration of SAF, such that this HOA and collaborative partnership will not only strengthen our development efforts in Queensland but will also go a long way in making renewable jet fuel and gasoline a reality in Australia,” said Patrick Gruber, CEO of Gevo.
“This HOA presents as an exciting opportunity for our business to work together with Gevo on investigating the feasibility of the commercialization of biofuels from regionally sourced renewable resources within Australia. Viva Energy has already shown a strong commitment in supporting biofuel initiatives around the country having invested more than $20 million into biofuel projects, including supply agreements with local biofuels producers and the construction and commissioning of a new biofuels blending facility in Queensland.
Our partnership with Gevo and our investment to date in biofuel projects illustrates Viva Energy’s commitment towards supporting more sustainable fuels into the future,” said Viva Energy CEO, Scott Wyatt.
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