The minute
- Jet Zero Australia announced $30 million in new financing backed by returning investors Airbus and Qantas and new strategic investor Posco International.
- The funds will be used to complete Front-End Engineering Design for Project Ulysses in Townsville, Australia, and advance toward a Final Investment Decision and construction.
- The project has received its final Development Permit Decision Notice from the Queensland Office of the Coordinator-General.
Why it matters: Domestic SAF production remains a critical bottleneck for aviation decarbonization. Advancing Project Ulysses through engineering design and permitting milestones signals that private capital from both airlines and industrial partners is aligning behind regional fuel supply chains needed to scale SAF beyond pilot volumes.
Qantas and Airbus first invested in Jet Zero Australia in 2023, and Posco International now joins as a new strategic backer. According to Qantas Group Chief Sustainability Officer Fiona Messent, domestic SAF production in Australia will support fuel security, create jobs and help aviation meet its decarbonisation objectives. The project is expected to generate approximately 1,000 jobs during construction and 100 permanent operational positions, via ESG Today.
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