The MoU marks a significant step forward in the development of HAMR Energy's flagship Portland Renewable Fuels Project (PRF Project) in Victoria. The project will produce up to 300,000 tons per year of renewable methanol, derived from forestry residue biomass and green hydrogen, which can be used to fuel plans and ships, helping decarbonize hard-to-abate transportation.
The partnership aligns with the Australian Government's Cleaner Fuels Program, announced earlier, which will provide $1.1 billion to support the supply of low carbon liquid fuels (LCLF).
David Stribley, Co-Founder of HAMR Energy, said, “Our MoU with OneFortyOne is another important milestone as we continue to develop our pipeline of LCLF projects and finalize our Series A fundraise. We have MoUs in place to supply all the feedstock for the PRF Project, and recently completed Pre-FEED with global chemical design company ThyssenKrupp UHDE, positioning us to move quickly through the next phase of project development.
"We are looking forward to working with OneFortyOne, our other project partners, state and federal governments and offtakers so that locally-sourced forestry residues are soon fueling Australian aviation and shipping.”
Under the MoU, OneFortyOne will work with HAMR Energy to supply biomass residues initially to the PRF Project, with the potential to then leverage the learnings into New Zealand, where OneFortyOne has forestry assets in the Nelson/Marlborough regions in the South Island. The parties will explore optimal biomass specifications and supply chain logistics with the intention to progress to long-term supply agreements in due course.
Nick Chan, Director of Corporate Strategy at OneFortyOne, said, “This is a pivotal moment for trans-Tasman forestry – we believe our industry is the logical partner in this LCLF space given the predictability and reliability we offer through scale and consistency of feedstock supply, year-round operations, and utilization of well-established infrastructure and supply chains.
“We are happy to have entered this MoU with HAMR and, if successful, we will diversify our end market exposure while working towards decarbonising our supply chain, particularly Scope 3 transport emissions. This is another example of how we’re innovating across both Australia and New Zealand.”
Over the next 18–24 months, OneFortyOne will support HAMR’s development efforts, including supplying sample wood fibre for testing and in-field operational trials to refine feedstock assumptions, in addition to progressing supply agreements.
