Singapore-based Southern Asian Carbon Limited (SACL) is seeking financing for its three planned sustainable aviation fuel (SAF) plants in Australia, sources told Fastmarkets on Tuesday September 3.

All three plants will produce cellulosic ethanol as a feedstock for SAF made via the alcohol-to-jet pathway; they are projected to cost a total of nearly $2.5 billion, according to SACL’s statement.

The facility planned for the Port of Portland in Victoria, Australia, will use sustainable woodchips to produce cellulosic ethanol, SACL said.

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