HAMR Energy, a leading Australian low-carbon fuels and chemicals company, has signed a Memorandum of Understanding with German engineering giant thyssenkrupp Uhde to drive the development of the AUD $2 billion Portland Renewable Fuels Project. This strategic partnership aims to support the decarbonization of the shipping sector by producing 300,000 tonnes per annum (tpa) of Green Methanol.
The collaboration will leverage thyssenkrupp Uhde’s established PRENFLO® gasification technology combined with their innovative uhde® green methanol technology to convert forestry residue into high-value green chemicals. The Portland Renewable Fuels Project is a significant step towards HAMR Energy’s goal of having one million tonnes of Green Methanol under development by 2030.
David Stribley, Director of HAMR Energy, expressed enthusiasm about the partnership, stating “We’re excited to announce our partnership with a company with the capability of thyssenkrupp. Our visions are aligned, and this is a milestone on the road to tapping into the massive demand for clean fuels in the world’s shipping industry.”
“Green Methanol is an environmentally friendly, market-ready, and tech-ready solution that will be fueling ships around the globe. Partnering with thyssenkrupp means we’re making the strategically important moves to do this at a global scale and create local jobs right here in Australia,” Stribley added.
thyssenkrupp Uhde’s CEO, Nadja Håkansson, highlighted the company’s commitment to creating carbon-free value chains “We are excited to work alongside HAMR Energy on this important project, tapping into the demand for shipping fuel while making a real difference to a carbon-intensive industry,” said Håkansson.
Stribley also emphasized the urgency of the project, citing the international shipping industry’s significant carbon footprint, which is twice that of Australia’s emissions. “The switch to low-carbon fuels in the shipping sector can make a substantial impact in reducing global emissions.”
The Portland Renewable Fuels Project, supported by a $500,000 feasibility study grant from the Victorian Government’s Portland Diversification Fund, aims to produce 300,000 tonnes of Green Methanol annually. This production is equivalent to removing 80,000 cars from the road or decarbonizing 150,000 tonnes of fossil fuels. The project is expected to be operational by 2029.
The Victorian Government has shown strong support for the initiative, with Minister for Energy and Resources, Lily D’Ambrosio, stating “The Portland Renewable Fuels Project will help us decarbonise the hard-to-abate shipping sector and accelerate the development of our renewable hydrogen and renewable fuels sectors, while creating local jobs and supporting business in Portland and southwest Victoria.”
Minister for Regional Development, Gayle Tierney, added “The Portland Renewable Fuels Project represents a significant investment in Portland, driving economic growth, creating local jobs and positioning the region to be at the forefront of renewable energy innovation.”
HAMR Energy has engaged Sayers Group as strategic advisers to further strengthen the project’s development.
Why is Methanol Important?
Methanol is one of the most traded chemical commodities in the world. Many everyday products, such as furniture, plastics, paints, building materials, and medical supplies, are created using methanol. Increasingly, methanol is generated from sustainable sources and used as a clean-burning, low-carbon fuel, making it an attractive option for decarbonizing maritime industry and potentially aviation. With its ability to be made sustainably and reduce harmful emissions, methanol has the potential to improve air quality and reduce greenhouse gas emissions across multiple industries.
What is Renewable Methanol?
Historically, methanol has been synthesized from natural gas or coal, which is estimated to contribute 300Mt of CO2 emissions per annum. Renewable methanol, on the other hand, is a clean and eco-friendly liquid fuel made from sustainable sources like biomass or by using captured carbon dioxide and hydrogen produced from renewable electricity. Often called bio-methanol or e-methanol, it serves as an excellent alternative to traditional fossil fuels. By using renewable methanol, we can significantly reduce our carbon footprint and help protect the environment.
About thyssenkrupp Uhde
thyssenkrupp Uhde combines unique technological expertise and decades of global experience in the engineering, procurement, construction, and service of chemical plants. They develop innovative processes and products for a more sustainable future, contributing to the long-term success of their customers across the chemical industry. Their portfolio includes leading technologies for base chemicals, fertilizers, polymers, green hydrogen, and sustainable chemicals.
About HAMR Energy
HAMR Energy is an Australian energy company dedicated to accelerating the nation’s transition to low-carbon fuel. With expertise in intricate energy projects, HAMR Energy produces green methanol to help decarbonize the shipping sector. The company is committed to reducing carbon emissions and Australia’s reliance on fuel imports, enhancing energy security, and building the economy. HAMR Energy aims to produce one million tonnes of green methanol per year by 2030.
Source HAMR Energy