CEFC finance helps ResourceCo turn waste into fuel

The Clean Energy Finance Corporation (CEFC), Australia, is lending AUD30m to ResourceCo to build two new plants that will transform selected non-recyclable waste streams into Processed Engineered Fuel (PEF). This solid fuel will initially be used locally but will also be exported as an alternative to coal and gas for cement kilns in Asia.

The first plant is to be built at Wetherill Park in Sydney, New South Wales (NSW), and the second in another Australian state yet to be announced. 

CEFC Bioenergy and Energy from Waste Sector lead, Henry Anning, said PEF demonstrated the potential to transform waste that would otherwise go into landfill into a baseload energy source as part of Australia's future clean energy mix, while also lowering emissions. "Through this investment with ResourceCo we are demonstrating the ability to use the latest energy from waste technology to deliver cleaner energy solutions to the Australian economy," Mr Anning said. 

"Waste levies in states such as NSW, the ACT, South Australia, Western Australia and Victoria, are improving the business case for this kind of alternative use of the waste, rather than it going into landfill." 

The CEFC finance will enable ResourceCo to accelerate the development of the Wetherill Park plant, and proceed with a similar facility in another Australian state in due course. 

ResourceCo Managing Director, Simon Brown, said: "At ResourceCo we are committed to playing a key role in helping to achieve Federal Government environmental targets, including waste reduction and carbon emission avoidance. With critical finance support from the CEFC, the opening of the NSW alternative fuel plant will work to achieve just that. 

"Our business operates across both Australia and South East Asia, which places us in a prime position to drive this new initiative forward and make a real difference in the way in which these communities view and deal with waste." 

When operational, the Wetherill Park plant will process around 150,000tpa of waste to produce PEF and recover other commodities such as metal, clean timber and inert materials.