Bioenergy investment to support Australia’s path to net zero

Leading Australian resource recovery company ResourceCo says an increasing focus on Australia’s carbon footprint, future net zero commitments from larger corporations, and bolder government policy is driving strong confidence in the sector.

The Clean Energy Finance Corporation (CEFC) recently identified an investment pipeline of up to $7.8 billion across Australia’s waste, bioenergy, recycling, and resource recovery sectors.

New and expanded infrastructure requirements for the sector are expected to deliver 9,000 construction jobs, 2,600 indirect jobs, and as many as 1,400 direct or ongoing jobs.

CEO of ResourceCo, Jim Fairweather, says global market pressures, evolving consumer preferences and an increasing focus on the country’s carbon footprint, both at an individual company and nationwide level, are driving significant transformation.

“It’s an exciting time to be involved and it’s important that we all work together to capture the opportunities for expansion across the Australian sector, driving strong economic and environmental outcomes,” Mr Fairweather says.

As an experienced investor in the bioenergy and thermal energy from waste sectors, the CEFC sees immediate and important investment opportunities in recycling and resource recovery, drawing on proven technologies and products.

Amongst those is Processed Engineered Fuel (PEF), which has the potential to address constrained and increasingly expensive landfill, and growing demand from industrial facilities, both in Australia and overseas, for lower carbon waste-derived fuels.

Head of ResourceCo Energy Systems, Henry Anning, agrees the scope for PEF is increasing as the global market continues to explore options for accelerating emissions reduction, while achieving cost-efficiencies.

“Increasingly, large-scale businesses are looking to renewable energy as a viable alternative to expensive, emissions generating fossil fuels. We’re continuing to progress some interesting and ambitious new projects across our national footprint which bears testament to the evolving opportunity,” Mr Anning says.

As a company, ResourceCo is a leader in the development of energy from waste plants, which deliver strong environmental and economic outcomes by repurposing materials otherwise destined for landfill, to generate clean energy.

ResourceCo Energy manufactures PEF primarily from waste timber materials but also non-recyclable plastics, cardboard, paper, and textiles.

“We’re solidifying our commitment to make progress for real change and to play our part in progressing Australia’s transition to a circular economy,” Mr Anning says.

ResourceCo’s optimism is also shared by its tyre recycling division, Tyrecycle, which is undertaking an expansive capital investment program – the biggest in the history of the company – with new plants planned for Sydney and Perth, as well as bolstering operations in South Australia, Victoria, and Queensland.

“We’re expanding our production capacity and capability for tyre-derivedfuel (TDF) and rubber crumb (used in road construction), ahead of the December 2021 ban on the export of whole-baled tyres,” Mr Fairweather says.

“We’re focused on progressing growth opportunities to improve access to export markets and supply chains, while also expanding local markets for recycled tyre-derived fuel products.

“We’ve got an important role to play in embracing innovation to expand the sector into a sustainable global contributor to a circular economy. The upside is huge.”